Nichols & Pratt Advisers LLP MA Lowers Holdings in Caterpillar Inc. (NYSE:CAT)

Nichols & Pratt Advisers LLP MA cut its position in Caterpillar Inc. (NYSE:CAT) by 3.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,895 shares of the industrial products company’s stock after selling 2,500 shares during the quarter. Caterpillar comprises 1.6% of Nichols & Pratt Advisers LLP MA’s investment portfolio, making the stock its 22nd biggest position. Nichols & Pratt Advisers LLP MA’s holdings in Caterpillar were worth $23,051,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Huntleigh Advisors Inc. raised its position in shares of Caterpillar by 1.2% during the 1st quarter. Huntleigh Advisors Inc. now owns 5,600 shares of the industrial products company’s stock valued at $1,847,000 after buying an additional 66 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Caterpillar during the 1st quarter valued at $270,000. IFM Investors Pty Ltd raised its position in shares of Caterpillar by 9.5% during the 1st quarter. IFM Investors Pty Ltd now owns 100,278 shares of the industrial products company’s stock valued at $33,072,000 after buying an additional 8,666 shares in the last quarter. Baker Boyer National Bank raised its position in shares of Caterpillar by 5.9% during the 1st quarter. Baker Boyer National Bank now owns 1,001 shares of the industrial products company’s stock valued at $330,000 after buying an additional 56 shares in the last quarter. Finally, Avantax Planning Partners Inc. raised its position in shares of Caterpillar by 2.2% during the 1st quarter. Avantax Planning Partners Inc. now owns 6,406 shares of the industrial products company’s stock valued at $2,113,000 after buying an additional 139 shares in the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Caterpillar

In related news, Director David Maclennan acquired 375 shares of the firm’s stock in a transaction dated Wednesday, May 7th. The stock was purchased at an average cost of $320.70 per share, with a total value of $120,262.50. Following the completion of the acquisition, the director directly owned 6,653 shares of the company’s stock, valued at approximately $2,133,617.10. This trade represents a 5.97% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.33% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Bank of America increased their target price on shares of Caterpillar from $335.00 to $385.00 and gave the company a “buy” rating in a report on Friday, May 30th. Morgan Stanley raised shares of Caterpillar from an “underweight” rating to an “equal weight” rating and reduced their target price for the company from $300.00 to $283.00 in a report on Wednesday, April 16th. Evercore ISI reduced their target price on shares of Caterpillar from $375.00 to $373.00 and set an “in-line” rating on the stock in a report on Monday, May 19th. Truist Financial increased their target price on shares of Caterpillar from $396.00 to $414.00 and gave the company a “buy” rating in a report on Monday, June 23rd. Finally, Citigroup reaffirmed a “buy” rating and set a $420.00 target price (up previously from $370.00) on shares of Caterpillar in a report on Tuesday, June 24th. Six analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $380.83.

Caterpillar Stock Up 0.2%

Shares of Caterpillar stock opened at $399.33 on Friday. The company has a 50-day simple moving average of $350.10 and a two-hundred day simple moving average of $346.79. The stock has a market capitalization of $188.10 billion, a PE ratio of 19.46, a price-to-earnings-growth ratio of 2.65 and a beta of 1.38. 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 issued its earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.35 by ($0.10). The firm had revenue of $14.25 billion during 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%. The company’s quarterly revenue was down 9.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.60 EPS. On average, analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st will be issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 1.51%. This is a boost from Caterpillar’s previous quarterly dividend of $1.41. The ex-dividend date of this dividend is Monday, July 21st. Caterpillar’s payout ratio is presently 29.43%.

Caterpillar Company 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.