Oliver Luxxe Assets LLC Sells 71 Shares of Caterpillar Inc. (NYSE:CAT)

Oliver Luxxe Assets LLC decreased its stake in Caterpillar Inc. (NYSE:CAT) by 0.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,174 shares of the industrial products company’s stock after selling 71 shares during the period. Oliver Luxxe Assets LLC’s holdings in Caterpillar were worth $3,728,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Partnership Wealth Management LLC acquired a new stake in Caterpillar in the 4th quarter valued at about $26,000. Richardson Financial Services Inc. acquired a new stake in Caterpillar in the 4th quarter valued at about $27,000. Thompson Investment Management Inc. acquired a new stake in Caterpillar in the 1st quarter valued at about $27,000. Gilfoyle & Co LLC acquired a new stake in Caterpillar in the 4th quarter valued at about $30,000. Finally, Vima LLC acquired a new stake in Caterpillar in the 4th quarter valued at about $30,000. Institutional investors own 70.98% of the company’s stock.

Insider Transactions at Caterpillar

In other news, Director David Maclennan bought 500 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were acquired at an average price of $337.39 per share, for a total transaction of $168,695.00. Following the completion of the acquisition, the director now directly owns 5,738 shares in the company, valued at $1,935,943.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Cheryl H. Johnson sold 1,508 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $340.00, for a total value of $512,720.00. Following the transaction, the insider now owns 20,023 shares in the company, valued at $6,807,820. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director David Maclennan bought 500 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $1,935,943.82. The disclosure for this purchase can be found here. 0.33% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CAT shares. TD Cowen raised their target price on shares of Caterpillar from $338.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, April 26th. The Goldman Sachs Group raised their price objective on shares of Caterpillar from $357.00 to $408.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Stifel Nicolaus cut shares of Caterpillar from a “buy” rating to a “hold” rating and raised their target price for the stock from $293.00 to $350.00 in a report on Friday, April 26th. HSBC raised their target price on shares of Caterpillar from $330.00 to $360.00 and gave the stock a “hold” rating in a report on Tuesday, April 30th. Finally, Raymond James assumed coverage on shares of Caterpillar in a report on Friday. They set a “market perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $329.63.

Caterpillar Price Performance

Shares of NYSE CAT traded down $3.64 during midday trading on Monday, reaching $329.46. 1,513,324 shares of the company were exchanged, compared to its average volume of 2,710,629. The stock has a market cap of $161.12 billion, a P/E ratio of 14.72, a PEG ratio of 1.71 and a beta of 1.12. The stock’s 50-day moving average price is $340.31 and its 200-day moving average price is $329.47. The company has a quick ratio of 0.83, a current ratio of 1.35 and a debt-to-equity ratio of 1.41. Caterpillar Inc. has a one year low of $223.76 and a one year high of $382.01.

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

Caterpillar declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, June 12th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to reacquire up to 12.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Caterpillar Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Monday, July 22nd will be issued a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date is Monday, July 22nd. This is a positive change from Caterpillar’s previous quarterly dividend of $1.30. Caterpillar’s payout ratio is 23.48%.

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.