Teamwork Financial Advisors LLC Sells 11,854 Shares of Caterpillar Inc. (NYSE:CAT)

Teamwork Financial Advisors LLC lowered its position in shares of Caterpillar Inc. (NYSE:CAT) by 63.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,913 shares of the industrial products company’s stock after selling 11,854 shares during the quarter. Teamwork Financial Advisors LLC’s holdings in Caterpillar were worth $2,533,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of CAT. Partnership Wealth Management LLC bought a new position in shares of Caterpillar during the 4th quarter worth about $26,000. Richardson Financial Services Inc. purchased a new stake in Caterpillar in the 4th quarter valued at about $27,000. Thompson Investment Management Inc. purchased a new stake in Caterpillar in the 1st quarter valued at about $27,000. Gilfoyle & Co LLC purchased a new stake in Caterpillar in the 4th quarter valued at about $30,000. Finally, Vima LLC purchased a new stake in shares of Caterpillar during the 4th quarter worth approximately $30,000. Institutional investors own 70.98% of the company’s stock.

Caterpillar Price Performance

Shares of Caterpillar stock traded up $2.85 on Thursday, hitting $330.61. 1,352,181 shares of the company traded hands, compared to its average volume of 3,422,689. The firm’s 50-day simple moving average is $338.22 and its 200 day simple moving average is $330.09. 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 company has a market cap of $161.69 billion, a P/E ratio of 14.93, a P/E/G ratio of 1.69 and a beta of 1.12. Caterpillar Inc. has a 12-month low of $223.76 and a 12-month high of $382.01.

Caterpillar (NYSE:CAT) last issued its 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 analysts’ expectations of $16.07 billion. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. Analysts expect that Caterpillar Inc. will post 21.8 earnings per share for the current fiscal year.

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

Caterpillar Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Monday, July 22nd will be given a $1.41 dividend. This is a boost from Caterpillar’s previous quarterly dividend of $1.30. The ex-dividend date is Monday, July 22nd. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.71%. Caterpillar’s payout ratio is presently 25.46%.

Insider Buying and Selling at Caterpillar

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on CAT. Raymond James began coverage on shares of Caterpillar in a research note on Friday, June 28th. They set a “market perform” rating for the company. The Goldman Sachs Group raised their price target on shares of Caterpillar from $357.00 to $408.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Truist Financial assumed coverage on shares of Caterpillar in a report on Thursday, March 14th. They issued a “buy” rating and a $390.00 price objective for the company. TD Cowen raised their price objective on shares of Caterpillar from $338.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Caterpillar from $385.00 to $435.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. According to MarketBeat, Caterpillar presently has an average rating of “Hold” and an average price target of $329.63.

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.