Caterpillar Inc. (NYSE:CAT) Shares Sold by Advisory Resource Group

Advisory Resource Group lowered its position in Caterpillar Inc. (NYSE:CAT) by 2.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,638 shares of the industrial products company’s stock after selling 36 shares during the quarter. Advisory Resource Group’s holdings in Caterpillar were worth $540,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC increased its position in shares of Caterpillar by 38.3% in the 4th quarter. Proficio Capital Partners LLC now owns 2,218 shares of the industrial products company’s stock worth $805,000 after purchasing an additional 614 shares during the last quarter. Victrix Investment Advisors acquired a new stake in shares of Caterpillar in the 4th quarter worth approximately $2,090,000. Pacific Point Advisors LLC acquired a new stake in shares of Caterpillar in the 4th quarter worth approximately $579,000. Brighton Jones LLC lifted its stake in shares of Caterpillar by 51.5% in the 4th quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company’s stock worth $2,688,000 after acquiring an additional 2,519 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Caterpillar by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 46,809,540 shares of the industrial products company’s stock worth $16,980,629,000 after acquiring an additional 284,366 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Price Performance

NYSE:CAT opened at $359.73 on Thursday. The company has a 50-day moving average of $331.20 and a 200-day moving average of $347.71. The company has a market capitalization of $169.45 billion, a price-to-earnings ratio of 17.53, a PEG ratio of 2.38 and a beta of 1.37. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $418.50. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.77 and a current ratio of 1.32.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $4.25 EPS for the quarter, missing analysts’ consensus estimates of $4.35 by ($0.10). The business had revenue of $14.25 billion for the quarter, compared to the consensus estimate of $14.64 billion. Caterpillar had a return on equity of 53.77% and a net margin of 15.71%. Caterpillar’s revenue was down 9.8% on a year-over-year basis. During the same period in the previous year, the business posted $5.60 earnings per share. As a group, equities research analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, July 21st will be given a dividend of $1.51 per share. The ex-dividend date is Monday, July 21st. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.68%. This is a boost from Caterpillar’s previous quarterly dividend of $1.41. Caterpillar’s dividend payout ratio (DPR) is 27.49%.

Analyst Ratings Changes

A number of analysts have recently weighed in on CAT shares. Wall Street Zen lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Morgan Stanley raised shares of Caterpillar from an “underweight” rating to an “equal weight” rating and cut their target price for the company from $300.00 to $283.00 in a research note on Wednesday, April 16th. Evercore ISI cut their target price on shares of Caterpillar from $375.00 to $373.00 and set an “in-line” rating for the company in a research note on Monday, May 19th. Citigroup increased their target price on shares of Caterpillar from $320.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, May 5th. Finally, DA Davidson upped their price target on shares of Caterpillar from $325.00 to $331.00 and gave the company a “neutral” rating in a research report on Monday, May 5th. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Caterpillar has an average rating of “Moderate Buy” and a consensus target price of $372.92.

Insider Buying and Selling

In other news, Director David Maclennan bought 375 shares of the company’s stock in a transaction that occurred on Wednesday, May 7th. The stock was acquired at an average price of $320.70 per share, for a total transaction of $120,262.50. Following the transaction, the director now directly owns 6,653 shares of the company’s stock, valued at $2,133,617.10. This trade represents a 5.97% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.33% of the stock is currently owned by corporate insiders.

About Caterpillar

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.