Caterpillar Inc. (NYSE:CAT) Stock Holdings Lessened by Focus Financial Network Inc.

Focus Financial Network Inc. lowered its stake in Caterpillar Inc. (NYSE:CAT) by 0.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,863 shares of the industrial products company’s stock after selling 68 shares during the period. Focus Financial Network Inc.’s holdings in Caterpillar were worth $3,583,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Proficio Capital Partners LLC increased its holdings in shares of Caterpillar by 38.3% in the fourth quarter. Proficio Capital Partners LLC now owns 2,218 shares of the industrial products company’s stock valued at $805,000 after buying an additional 614 shares in the last quarter. Victrix Investment Advisors bought a new position in shares of Caterpillar in the fourth quarter valued at $2,090,000. Braun Stacey Associates Inc. increased its holdings in shares of Caterpillar by 2.8% in the fourth quarter. Braun Stacey Associates Inc. now owns 34,837 shares of the industrial products company’s stock valued at $12,637,000 after buying an additional 963 shares in the last quarter. Strategic Advisors LLC increased its holdings in shares of Caterpillar by 14.6% in the fourth quarter. Strategic Advisors LLC now owns 5,724 shares of the industrial products company’s stock valued at $2,076,000 after buying an additional 730 shares in the last quarter. Finally, MFG Wealth Management Inc. bought a new position in shares of Caterpillar in the fourth quarter valued at $2,308,000. Institutional investors own 70.98% of the company’s stock.

Caterpillar Trading Up 0.2%

Caterpillar stock opened at $358.70 on Wednesday. The company’s fifty day simple moving average is $322.25 and its 200-day simple moving average is $349.19. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $418.50. The stock has a market cap of $168.96 billion, a P/E ratio of 16.25, a P/E/G ratio of 1.87 and a beta of 1.37.

Caterpillar (NYSE:CAT) last released its quarterly earnings data 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 net margin of 16.65% and a return on equity of 58.18%. The business had revenue of $14.25 billion during the quarter, compared to analyst estimates of $14.64 billion. During the same period in the previous year, the firm posted $5.60 EPS. The firm’s revenue for the quarter was down 9.8% on a year-over-year basis. As a group, sell-side analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Monday, April 21st were paid a $1.41 dividend. This represents a $5.64 annualized dividend and a dividend yield of 1.57%. The ex-dividend date was Monday, April 21st. Caterpillar’s payout ratio is presently 27.49%.

Insider Activity at Caterpillar

In other Caterpillar news, Director David Maclennan acquired 375 shares of Caterpillar stock in a transaction that occurred on Wednesday, May 7th. The stock was acquired at an average price of $320.70 per share, with a total value 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.33% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Caterpillar from $490.00 to $380.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Robert W. Baird upgraded shares of Caterpillar from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $309.00 to $395.00 in a research report on Tuesday, May 13th. Truist Financial reiterated a “buy” rating and set a $396.00 price objective (up from $389.00) on shares of Caterpillar in a research report on Thursday, May 1st. Oppenheimer upgraded shares of Caterpillar from a “market perform” rating to an “outperform” rating and set a $395.00 price objective on the stock in a research report on Thursday, May 1st. Finally, UBS Group upgraded shares of Caterpillar from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $272.00 to $357.00 in a research report on Friday, May 16th. Six investment 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 company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $372.92.

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.