Inman Jager Wealth Management LLC Sells 152 Shares of Caterpillar Inc. (NYSE:CAT)

Inman Jager Wealth Management LLC reduced its holdings in Caterpillar Inc. (NYSE:CAT) by 3.3% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 4,508 shares of the industrial products company’s stock after selling 152 shares during the period. Caterpillar accounts for approximately 1.1% of Inman Jager Wealth Management LLC’s portfolio, making the stock its 27th largest position. Inman Jager Wealth Management LLC’s holdings in Caterpillar were worth $1,487,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CAT. Proficio Capital Partners LLC increased its stake in Caterpillar by 38.3% during the fourth quarter. Proficio Capital Partners LLC now owns 2,218 shares of the industrial products company’s stock valued at $805,000 after acquiring an additional 614 shares during the period. Victrix Investment Advisors acquired a new stake in shares of Caterpillar during the 4th quarter worth approximately $2,090,000. Pacific Point Advisors LLC bought a new stake in shares of Caterpillar during the fourth quarter valued at approximately $579,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of Caterpillar by 18.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 191,640 shares of the industrial products company’s stock valued at $63,202,000 after purchasing an additional 30,070 shares in the last quarter. Finally, Brighton Jones LLC lifted its position in Caterpillar by 51.5% in the fourth quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company’s stock worth $2,688,000 after purchasing an additional 2,519 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Trading Down 0.4%

CAT stock opened at $371.63 on Thursday. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.32 and a quick ratio of 0.77. The stock has a market capitalization of $175.05 billion, a price-to-earnings ratio of 18.11, a P/E/G ratio of 2.48 and a beta of 1.37. The business has a fifty day moving average price of $338.55 and a 200 day moving average price of $346.61. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $418.50.

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

Caterpillar Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st will be paid a dividend of $1.51 per share. This is a boost from Caterpillar’s previous quarterly dividend of $1.41. This represents a $6.04 annualized dividend and a dividend yield of 1.63%. The ex-dividend date is Monday, July 21st. Caterpillar’s dividend payout ratio is 27.49%.

Insider Activity at Caterpillar

In other news, Director David Maclennan acquired 375 shares of the firm’s stock in a transaction on Wednesday, May 7th. The shares were purchased at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the transaction, the director now owns 6,653 shares of the company’s stock, valued at approximately $2,133,617.10. This represents a 5.97% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.33% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CAT shares. Oppenheimer raised shares of Caterpillar from a “market perform” rating to an “outperform” rating and set a $395.00 price target on the stock in a report on Thursday, May 1st. DA Davidson upped their target price on shares of Caterpillar from $325.00 to $331.00 and gave the company a “neutral” rating in a research note on Monday, May 5th. Baird R W upgraded shares of Caterpillar from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 13th. Bank of America upped their price objective on Caterpillar from $335.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, May 30th. Finally, UBS Group upgraded Caterpillar from a “sell” rating to a “neutral” rating and raised their target price for the stock from $272.00 to $357.00 in a research report on Friday, May 16th. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Caterpillar presently has a consensus rating of “Moderate Buy” and an average target price of $380.83.

Caterpillar Profile

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.