Compagnie Lombard Odier SCmA Sells 11,304 Shares of Caterpillar Inc. (NYSE:CAT)

Compagnie Lombard Odier SCmA reduced its stake in Caterpillar Inc. (NYSE:CAT) by 54.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,447 shares of the industrial products company’s stock after selling 11,304 shares during the period. Compagnie Lombard Odier SCmA’s holdings in Caterpillar were worth $3,116,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Proficio Capital Partners LLC boosted its stake in Caterpillar by 38.3% during 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 during the last quarter. Victrix Investment Advisors bought a new position in shares of Caterpillar during the 4th quarter valued at approximately $2,090,000. Braun Stacey Associates Inc. boosted its position in shares of Caterpillar by 2.8% during the 4th quarter. Braun Stacey Associates Inc. now owns 34,837 shares of the industrial products company’s stock valued at $12,637,000 after acquiring an additional 963 shares during the last quarter. Strategic Advisors LLC increased its position in Caterpillar by 14.6% in the fourth quarter. Strategic Advisors LLC now owns 5,724 shares of the industrial products company’s stock worth $2,076,000 after purchasing an additional 730 shares during the last quarter. Finally, MFG Wealth Management Inc. bought a new stake in shares of Caterpillar in the 4th quarter worth about $2,308,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Buying and Selling

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 bought at an average price of $320.70 per share, with a total value of $120,262.50. Following the completion of 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.33% of the stock is owned by insiders.

Caterpillar Price Performance

Caterpillar stock opened at $363.09 on Thursday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. The stock has a market cap of $171.03 billion, a price-to-earnings ratio of 16.45, a price-to-earnings-growth ratio of 1.87 and a beta of 1.37. The firm has a 50-day moving average of $323.77 and a two-hundred day moving average of $349.29. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $418.50.

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 analysts’ consensus estimates of $4.35 by ($0.10). The firm had revenue of $14.25 billion during the quarter, compared to analysts’ expectations of $14.64 billion. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. The firm’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.60 EPS. On average, research analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, July 21st will be issued a $1.51 dividend. This is an increase from Caterpillar’s previous quarterly dividend of $1.41. This represents a $6.04 annualized dividend and a dividend yield of 1.66%. Caterpillar’s payout ratio is presently 27.49%.

Analyst Ratings Changes

CAT has been the subject of a number of recent research reports. JPMorgan Chase & Co. dropped their target price on Caterpillar from $490.00 to $380.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Oppenheimer raised shares of Caterpillar from a “market perform” rating to an “outperform” rating and set a $395.00 price objective for the company in a research note on Thursday, May 1st. Robert W. Baird raised shares of Caterpillar from a “neutral” rating to an “outperform” rating and increased their target price for the company from $309.00 to $395.00 in a research note on Tuesday, May 13th. Truist Financial restated a “buy” rating and issued a $396.00 target price (up previously from $389.00) on shares of Caterpillar in a report on Thursday, May 1st. Finally, Morgan Stanley upgraded shares of Caterpillar from an “underweight” rating to an “equal weight” rating and cut their price target for the company from $300.00 to $283.00 in a report on Wednesday, April 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 company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $372.92.

Caterpillar Company 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.