Caterpillar Inc. (NYSE:CAT) Shares Sold by Continuum Advisory LLC

Continuum Advisory LLC lowered its stake in Caterpillar Inc. (NYSE:CAT) by 6.2% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,353 shares of the industrial products company’s stock after selling 90 shares during the quarter. Continuum Advisory LLC’s holdings in Caterpillar were worth $446,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CAT. Norges Bank purchased a new stake in Caterpillar in the 4th quarter valued at approximately $2,184,364,000. GAMMA Investing LLC lifted its stake in Caterpillar by 43,447.3% in the 1st quarter. GAMMA Investing LLC now owns 3,730,259 shares of the industrial products company’s stock valued at $1,230,239,000 after buying an additional 3,721,693 shares in the last quarter. Capital Research Global Investors lifted its stake in Caterpillar by 69.3% in the 4th quarter. Capital Research Global Investors now owns 2,924,054 shares of the industrial products company’s stock valued at $1,060,730,000 after buying an additional 1,196,861 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Caterpillar in the 4th quarter valued at approximately $353,231,000. Finally, Proficio Capital Partners LLC lifted its stake in Caterpillar by 50,072.7% in the 4th quarter. Proficio Capital Partners LLC now owns 804,770 shares of the industrial products company’s stock valued at $291,938,000 after buying an additional 803,166 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Performance

Shares of NYSE:CAT opened at $366.65 on Tuesday. The firm has a market capitalization of $172.71 billion, a PE ratio of 17.87, a P/E/G ratio of 2.40 and a beta of 1.37. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.32 and a quick ratio of 0.77. The business has a 50-day moving average of $335.33 and a two-hundred day moving average of $346.24. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $418.50.

Caterpillar (NYSE:CAT) last announced 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). The firm had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.64 billion. Caterpillar had a return on equity of 53.77% and a net margin of 15.71%. The business’s revenue was down 9.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.60 earnings per share. As a group, research analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st will be paid a $1.51 dividend. The ex-dividend date is Monday, July 21st. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.65%. This is a positive change from Caterpillar’s previous quarterly dividend of $1.41. Caterpillar’s dividend payout ratio (DPR) is 27.49%.

Insider Activity

In related news, Director David Maclennan bought 375 shares of the stock in a transaction dated 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 completion of the purchase, the director now owns 6,653 shares in the company, valued at $2,133,617.10. This represents a 5.97% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

CAT has been the topic of a number of recent research reports. JPMorgan Chase & Co. reduced their target price on Caterpillar from $490.00 to $380.00 and set an “overweight” rating on the stock in a research note on Monday, April 14th. Robert W. Baird raised their price objective on Caterpillar from $395.00 to $422.00 and gave the stock an “outperform” rating in a report on Friday. Truist Financial raised their price objective on Caterpillar from $396.00 to $414.00 and gave the stock a “buy” rating in a report on Monday. Baird R W upgraded Caterpillar from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 13th. Finally, UBS Group upgraded Caterpillar from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $272.00 to $357.00 in a 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 assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $376.67.

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.