Caterpillar Inc. (NYSE:CAT) Stock Holdings Cut by Atticus Wealth Management LLC

Atticus Wealth Management LLC reduced its position in shares of Caterpillar Inc. (NYSE:CAT) by 13.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 307 shares of the industrial products company’s stock after selling 49 shares during the quarter. Atticus Wealth Management LLC’s holdings in Caterpillar were worth $112,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CAT. Waterway Wealth Management LLC bought a new stake in shares of Caterpillar during the 4th quarter worth $352,000. Farmers Trust Co. lifted its holdings in shares of Caterpillar by 2.7% in the fourth quarter. Farmers Trust Co. now owns 4,490 shares of the industrial products company’s stock valued at $1,328,000 after purchasing an additional 120 shares in the last quarter. Firethorn Wealth Partners LLC lifted its holdings in shares of Caterpillar by 19.4% in the fourth quarter. Firethorn Wealth Partners LLC now owns 1,825 shares of the industrial products company’s stock valued at $540,000 after purchasing an additional 296 shares in the last quarter. Axxcess Wealth Management LLC lifted its holdings in shares of Caterpillar by 20.0% in the fourth quarter. Axxcess Wealth Management LLC now owns 21,343 shares of the industrial products company’s stock valued at $6,310,000 after purchasing an additional 3,558 shares in the last quarter. Finally, Rise Advisors LLC lifted its holdings in shares of Caterpillar by 7.8% in the fourth quarter. Rise Advisors LLC now owns 1,074 shares of the industrial products company’s stock valued at $318,000 after purchasing an additional 78 shares in the last quarter. 70.98% of the stock is owned by institutional investors.

Insider Transactions at Caterpillar

In other news, Director David Maclennan acquired 500 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was acquired at an average price of $337.39 per share, for a total transaction of $168,695.00. Following the transaction, the director now directly owns 5,738 shares in the company, valued at $1,935,943.82. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director David Maclennan bought 500 shares of the stock in a transaction on Friday, May 3rd. The stock was purchased at an average price of $337.39 per share, for a total transaction of $168,695.00. Following the acquisition, the director now owns 5,738 shares in the company, valued at $1,935,943.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Lange Bob De sold 21,847 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $356.90, for a total value of $7,797,194.30. Following the transaction, the insider now owns 71,115 shares of the company’s stock, valued at approximately $25,380,943.50. The disclosure for this sale can be found here. 0.33% of the stock is owned by company insiders.

Caterpillar Stock Performance

CAT traded up $5.64 on Friday, hitting $333.10. 8,891,479 shares of the stock traded hands, compared to its average volume of 3,519,845. The company has a current ratio of 1.35, a quick ratio of 0.83 and a debt-to-equity ratio of 1.41. The business has a fifty day moving average price of $340.31 and a two-hundred day moving average price of $329.04. The firm has a market capitalization of $162.90 billion, a PE ratio of 15.04, a P/E/G ratio of 1.71 and a beta of 1.14. Caterpillar Inc. has a 52 week low of $223.76 and a 52 week high of $382.01.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Thursday, April 25th. The industrial products company reported $5.60 earnings per share for the quarter, beating analysts’ consensus estimates of $5.12 by $0.48. The company had revenue of $15.80 billion for the quarter, compared to the consensus estimate of $16.07 billion. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. On average, research analysts predict that Caterpillar Inc. will post 21.84 EPS for the current fiscal year.

Caterpillar declared that its board has approved a share buyback program on Wednesday, June 12th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the industrial products company to repurchase up to 12.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Caterpillar Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Monday, July 22nd will be issued a $1.41 dividend. This is an increase from Caterpillar’s previous quarterly dividend of $1.30. This represents a $5.64 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Monday, July 22nd. Caterpillar’s payout ratio is presently 25.46%.

Wall Street Analysts Forecast Growth

CAT has been the subject of a number of research analyst reports. The Goldman Sachs Group increased their target price on Caterpillar from $357.00 to $408.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Raymond James initiated coverage on Caterpillar in a research report on Friday. They issued a “market perform” rating for the company. JPMorgan Chase & Co. boosted their price target on Caterpillar from $385.00 to $435.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. TD Cowen boosted their price target on Caterpillar from $338.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, Citigroup assumed coverage on Caterpillar in a research report on Wednesday. They issued a “buy” rating and a $380.00 price target for the company. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Caterpillar presently has a consensus rating of “Hold” and a consensus target price of $329.63.

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.