Integrated Advisors Network LLC Has $14.77 Million Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Integrated Advisors Network LLC reduced its stake in Caterpillar Inc. (NYSE:CAT) by 24.1% during the first quarter, Holdings Channel.com reports. The fund owned 44,777 shares of the industrial products company’s stock after selling 14,239 shares during the period. Caterpillar makes up about 0.7% of Integrated Advisors Network LLC’s portfolio, making the stock its 19th biggest position. Integrated Advisors Network LLC’s holdings in Caterpillar were worth $14,768,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Handelsbanken Fonder AB lifted its position in shares of Caterpillar by 2.9% in the 1st quarter. Handelsbanken Fonder AB now owns 100,101 shares of the industrial products company’s stock worth $33,013,000 after purchasing an additional 2,779 shares during the period. Petredis Investment Advisors LLC acquired a new stake in shares of Caterpillar during the first quarter worth $2,595,000. Home Federal Bank of Tennessee lifted its holdings in Caterpillar by 29.7% in the first quarter. Home Federal Bank of Tennessee now owns 2,184 shares of the industrial products company’s stock valued at $720,000 after buying an additional 500 shares during the period. Sonora Investment Management Group LLC boosted its position in Caterpillar by 16.8% during the first quarter. Sonora Investment Management Group LLC now owns 18,451 shares of the industrial products company’s stock valued at $6,085,000 after acquiring an additional 2,654 shares during the last quarter. Finally, Accurate Wealth Management LLC grew its holdings in Caterpillar by 13.4% during the 1st quarter. Accurate Wealth Management LLC now owns 6,211 shares of the industrial products company’s stock worth $2,048,000 after acquiring an additional 733 shares during the period. 70.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Wall Street Zen lowered Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. reduced their price target on shares of Caterpillar from $490.00 to $380.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Truist Financial reiterated a “buy” rating and set a $396.00 price objective (up previously from $389.00) on shares of Caterpillar in a report on Thursday, May 1st. Evercore ISI reduced their target price on Caterpillar from $375.00 to $373.00 and set an “in-line” rating for the company in a research note on Monday, May 19th. Finally, Baird R W raised Caterpillar from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 13th. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $372.92.

Insiders Place Their Bets

In other Caterpillar news, Director David Maclennan bought 375 shares of the business’s stock in a transaction dated Wednesday, May 7th. The shares were purchased at an average price of $320.70 per share, for a total transaction of $120,262.50. Following the purchase, the director now directly owns 6,653 shares of the company’s stock, valued at approximately $2,133,617.10. This represents a 5.97% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.33% of the stock is currently owned by insiders.

Caterpillar Stock Performance

Shares of CAT opened at $358.70 on Wednesday. The firm has a market capitalization 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 Inc. has a 52 week low of $267.30 and a 52 week high of $418.50. The stock has a 50 day moving average price of $322.25 and a two-hundred day moving average price of $349.19. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42.

Caterpillar (NYSE:CAT) last announced its quarterly 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 company had revenue of $14.25 billion for the quarter, compared to the consensus estimate of $14.64 billion. During the same quarter last year, the company posted $5.60 EPS. The company’s quarterly revenue was down 9.8% compared to the same quarter last year. Equities analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

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