Virtu Financial LLC Trims Position in Caterpillar Inc. (NYSE:CAT)

Virtu Financial LLC lessened its stake in Caterpillar Inc. (NYSE:CAT) by 56.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,121 shares of the industrial products company’s stock after selling 8,070 shares during the period. Virtu Financial LLC’s holdings in Caterpillar were worth $2,019,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in CAT. Pacific Point Advisors LLC purchased a new position in Caterpillar in the 4th quarter worth about $579,000. Brighton Jones LLC increased its stake in 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 buying an additional 2,519 shares during the period. Townsquare Capital LLC increased its stake in Caterpillar by 24.9% in the 4th quarter. Townsquare Capital LLC now owns 34,267 shares of the industrial products company’s stock worth $12,431,000 after buying an additional 6,829 shares during the period. Optimize Financial Inc bought a new position in Caterpillar during the 4th quarter worth about $226,000. Finally, Sagespring Wealth Partners LLC bought a new position in Caterpillar during the 4th quarter worth about $7,088,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Performance

Shares of Caterpillar stock opened at $416.43 on Monday. The firm has a market capitalization of $195.09 billion, a P/E ratio of 21.18, a PEG ratio of 2.47 and a beta of 1.40. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. The company has a 50 day moving average price of $393.37 and a 200 day moving average price of $355.11. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $441.15.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing the consensus estimate of $4.88 by ($0.16). The company had revenue of $16.57 billion during the quarter, compared to analysts’ expectations of $16.14 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The business’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the previous year, the business earned $5.99 earnings per share. Sell-side analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st will be given a dividend of $1.51 per share. The ex-dividend date of this dividend is Monday, July 21st. This represents a $6.04 dividend on an annualized basis and a yield of 1.5%. This is a boost from Caterpillar’s previous quarterly dividend of $1.41. Caterpillar’s payout ratio is 30.72%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CAT shares. Barclays increased their target price on shares of Caterpillar from $383.00 to $425.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 6th. Bank of America increased their target price on shares of Caterpillar from $460.00 to $495.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Citigroup increased their target price on shares of Caterpillar from $460.00 to $500.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Melius upgraded shares of Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 target price on the stock in a report on Wednesday, July 9th. Finally, Truist Financial increased their target price on shares of Caterpillar from $414.00 to $507.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $444.00.

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.