713 Shares in Caterpillar Inc. (NYSE:CAT) Bought by Millburn Ridgefield LLC DE

Millburn Ridgefield LLC DE bought a new position in shares of Caterpillar Inc. (NYSE:CAT) in the 1st quarter, Holdings Channel reports. The institutional investor bought 713 shares of the industrial products company’s stock, valued at approximately $235,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Trinity Financial Advisors LLC grew its holdings in shares of Caterpillar by 252.5% during the first quarter. Trinity Financial Advisors LLC now owns 5,992 shares of the industrial products company’s stock worth $1,976,000 after purchasing an additional 4,292 shares during the last quarter. InTrack Investment Management Inc lifted its stake in Caterpillar by 22.3% in the first quarter. InTrack Investment Management Inc now owns 4,656 shares of the industrial products company’s stock valued at $1,536,000 after buying an additional 848 shares during the period. Eagle Capital Management LLC boosted its stake in Caterpillar by 46.9% during the first quarter. Eagle Capital Management LLC now owns 939 shares of the industrial products company’s stock worth $310,000 after acquiring an additional 300 shares in the last quarter. Curbstone Financial Management Corp boosted its position in shares of Caterpillar by 14.6% during the 1st quarter. Curbstone Financial Management Corp now owns 1,802 shares of the industrial products company’s stock worth $594,000 after purchasing an additional 230 shares in the last quarter. Finally, CX Institutional grew its stake in Caterpillar by 21.7% in the first quarter. CX Institutional now owns 30,918 shares of the industrial products company’s stock valued at $10,197,000 after acquiring an additional 5,523 shares during the period. Institutional investors own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CAT shares. Truist Financial reissued a “buy” rating and set a $396.00 target price (up from $389.00) on shares of Caterpillar in a research report on Thursday, May 1st. Wall Street Zen downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Robert W. Baird raised Caterpillar from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $309.00 to $395.00 in a research report on Tuesday, May 13th. Baird R W raised shares of Caterpillar from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 13th. Finally, UBS Group raised Caterpillar from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $272.00 to $357.00 in a report on Friday, May 16th. Six analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $372.92.

Insider Activity at Caterpillar

In other Caterpillar news, Director David Maclennan acquired 375 shares of the company’s stock in a transaction on Wednesday, May 7th. The stock was acquired at an average price of $320.70 per share, for a total transaction of $120,262.50. Following the acquisition, the director now owns 6,653 shares in the company, valued at $2,133,617.10. This represents a 5.97% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.33% of the stock is currently owned by company insiders.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $358.70 on Wednesday. Caterpillar Inc. has a one year low of $267.30 and a one year high of $418.50. The company’s fifty day moving average price is $322.25 and its 200-day moving average price is $349.19. The firm has a market capitalization of $168.96 billion, a price-to-earnings ratio of 16.25, a PEG ratio of 1.87 and a beta of 1.37. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89.

Caterpillar (NYSE:CAT) last issued its earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.35 by ($0.10). Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. The firm had revenue of $14.25 billion during the quarter, compared to analysts’ expectations of $14.64 billion. During the same period in the prior year, the company earned $5.60 EPS. The firm’s quarterly revenue was down 9.8% compared to the same quarter last year. On average, equities research analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Monday, April 21st were paid a $1.41 dividend. The ex-dividend date of this dividend was Monday, April 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.57%. Caterpillar’s dividend payout ratio (DPR) 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.