Caterpillar Inc. (NYSE:CAT) Shares Sold by Neville Rodie & Shaw Inc.

Neville Rodie & Shaw Inc. lowered its stake in shares of Caterpillar Inc. (NYSE:CAT) by 1.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,145 shares of the industrial products company’s stock after selling 175 shares during the quarter. Neville Rodie & Shaw Inc.’s holdings in Caterpillar were worth $5,984,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Flagship Wealth Advisors LLC bought a new stake in Caterpillar during the 4th quarter valued at $26,000. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Caterpillar during the fourth quarter worth $27,000. Cyrus J. Lawrence LLC acquired a new stake in shares of Caterpillar during the fourth quarter worth $27,000. Noble Wealth Management PBC acquired a new stake in shares of Caterpillar during the fourth quarter worth $31,000. Finally, Investment Management Corp VA ADV acquired a new stake in shares of Caterpillar during the fourth quarter worth $33,000. Institutional investors own 70.98% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CAT shares. Morgan Stanley upgraded Caterpillar from an “underweight” rating to an “equal weight” rating and lowered their price target for the company from $300.00 to $283.00 in a report on Wednesday, April 16th. DA Davidson boosted their target price on Caterpillar from $325.00 to $331.00 and gave the company a “neutral” rating in a research note on Monday, May 5th. Bank of America decreased their price target on Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Evercore ISI cut their price objective on Caterpillar from $375.00 to $373.00 and set an “in-line” rating for the company in a research report on Monday, May 19th. Finally, UBS Group raised Caterpillar from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $272.00 to $357.00 in a research report on Friday, May 16th. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $375.33.

Insider Activity

In related news, Director David Maclennan acquired 375 shares of the stock in a transaction dated Wednesday, May 7th. The shares were bought at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the purchase, the director now owns 6,653 shares in the company, valued at approximately $2,133,617.10. This trade represents a 5.97% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Trading Down 0.5%

Caterpillar stock opened at $349.68 on Thursday. The business has a 50 day moving average price of $318.94 and a two-hundred day moving average price of $351.77. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. The stock has a market cap of $164.71 billion, a price-to-earnings ratio of 15.84, a price-to-earnings-growth ratio of 1.87 and a beta of 1.35. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $418.50.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 EPS for the quarter, missing the consensus estimate of $4.35 by ($0.10). Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. The firm had revenue of $14.25 billion during the quarter, compared to analyst estimates of $14.64 billion. During the same period last year, the company earned $5.60 EPS. The company’s revenue was down 9.8% on a year-over-year basis. As a group, equities analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Monday, April 21st were paid a $1.41 dividend. The ex-dividend date was Monday, April 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.61%. Caterpillar’s dividend payout ratio is currently 27.49%.

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.