Montis Financial LLC Sells 40 Shares of Caterpillar Inc. (NYSE:CAT)

Montis Financial LLC lessened its position in Caterpillar Inc. (NYSE:CAT) by 1.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,778 shares of the industrial products company’s stock after selling 40 shares during the quarter. Montis Financial LLC’s holdings in Caterpillar were worth $1,246,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Flagship Wealth Advisors LLC purchased a new stake in Caterpillar during the 4th quarter worth approximately $26,000. Cyrus J. Lawrence LLC acquired a new stake in shares of Caterpillar during the fourth quarter valued at about $27,000. Investment Management Corp VA ADV acquired a new stake in shares of Caterpillar in the fourth quarter valued at $33,000. Curat Global LLC purchased a new position in Caterpillar during the first quarter valued at approximately $33,000. Finally, Redmont Wealth Advisors LLC bought a new stake in Caterpillar in the first quarter worth $33,000. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Up 2.0%

Shares of CAT stock opened at $412.89 on Thursday. The company has a current ratio of 1.32, a quick ratio of 0.77 and a debt-to-equity ratio of 1.43. The firm’s fifty day moving average price is $365.97 and its two-hundred day moving average price is $349.05. The firm has a market capitalization of $194.49 billion, a P/E ratio of 20.12, a PEG ratio of 2.68 and a beta of 1.38. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $418.50.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share for the quarter, missing analysts’ consensus estimates of $4.35 by ($0.10). Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. The company had revenue of $14.25 billion during the quarter, compared to the consensus estimate of $14.64 billion. During the same quarter in the prior year, the business earned $5.60 earnings per share. The firm’s revenue for the quarter was down 9.8% compared to the same quarter last year. On average, equities analysts predict that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st will be issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.46%. This is a boost from Caterpillar’s previous quarterly dividend of $1.41. The ex-dividend date is Monday, July 21st. Caterpillar’s dividend payout ratio is presently 27.49%.

Analyst Upgrades and Downgrades

CAT has been the subject of several research analyst reports. Melius raised Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price objective for the company in a research report on Wednesday, July 9th. Morgan Stanley upgraded Caterpillar from an “underweight” rating to an “equal weight” rating and cut their price target for the stock from $300.00 to $283.00 in a report on Wednesday, April 16th. Truist Financial raised their price objective on shares of Caterpillar from $396.00 to $414.00 and gave the stock a “buy” rating in a research note on Monday, June 23rd. Baird R W upgraded shares of Caterpillar from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 13th. Finally, Oppenheimer raised shares of Caterpillar from a “market perform” rating to an “outperform” rating and set a $395.00 price target for the company in a report on Thursday, May 1st. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $406.47.

Insider Buying and Selling

In other Caterpillar news, Director David Maclennan bought 375 shares of the firm’s stock in a transaction that occurred on Wednesday, May 7th. The shares were acquired at an average cost of $320.70 per share, with a total value of $120,262.50. Following the acquisition, the director owned 6,653 shares of the company’s stock, valued at $2,133,617.10. The trade was a 5.97% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.33% of the company’s stock.

About Caterpillar

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.