Twin Capital Management Inc. Sells 378 Shares of Caterpillar Inc. (NYSE:CAT)

Twin Capital Management Inc. cut its position in Caterpillar Inc. (NYSE:CAT) by 2.4% in the 1st quarter, Holdings Channel.com reports. The firm owned 15,638 shares of the industrial products company’s stock after selling 378 shares during the period. Twin Capital Management Inc.’s holdings in Caterpillar were worth $5,157,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Cyrus J. Lawrence LLC acquired a new position in shares of Caterpillar during the 4th quarter valued at $27,000. Investment Management Corp VA ADV bought a new stake in Caterpillar during the 4th quarter valued at $33,000. Curat Global LLC bought a new stake in shares of Caterpillar during the first quarter valued at about $33,000. Redmont Wealth Advisors LLC purchased a new position in Caterpillar during the first quarter worth about $33,000. Finally, Quarry LP purchased a new position in Caterpillar in the fourth quarter worth $35,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Caterpillar

In other Caterpillar news, Director David Maclennan acquired 375 shares of the stock in a transaction dated Wednesday, May 7th. The shares were bought at an average price of $320.70 per share, with a total value of $120,262.50. Following the purchase, the director directly owned 6,653 shares of the company’s stock, valued at approximately $2,133,617.10. This trade represents a 5.97% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.33% of the company’s stock.

Caterpillar Stock Performance

NYSE:CAT opened at $413.88 on Friday. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $419.90. The firm has a 50 day simple moving average of $369.61 and a 200-day simple moving average of $349.69. The firm has a market cap of $194.95 billion, a PE ratio of 20.17, a P/E/G ratio of 2.74 and a beta of 1.38. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.32 and a quick ratio of 0.77.

Caterpillar (NYSE:CAT) last posted 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 return on equity of 53.77% and a net margin of 15.71%. The business had revenue of $14.25 billion for the quarter, compared to analysts’ expectations of $14.64 billion. During the same quarter in the prior year, the firm earned $5.60 earnings per share. Caterpillar’s revenue for the quarter was down 9.8% compared to the same quarter last year. On average, equities analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Increases Dividend

The firm 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 represents a $6.04 dividend on an annualized basis and a yield of 1.46%. This is a positive change from Caterpillar’s previous quarterly dividend of $1.41. The ex-dividend date of this dividend is Monday, July 21st. Caterpillar’s dividend payout ratio is 27.49%.

Analysts Set New Price Targets

CAT has been the topic of a number of recent analyst reports. Truist Financial raised their price target on shares of Caterpillar from $396.00 to $414.00 and gave the stock a “buy” rating in a report on Monday, June 23rd. UBS Group upgraded shares of Caterpillar from a “sell” rating to a “neutral” rating and raised their target price for the stock from $272.00 to $357.00 in a report on Friday, May 16th. DA Davidson raised their target price on Caterpillar from $325.00 to $331.00 and gave the stock a “neutral” rating in a report on Monday, May 5th. Melius upgraded Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price objective on the stock in a research report on Wednesday, July 9th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Caterpillar from $395.00 to $475.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Caterpillar currently has a consensus rating of “Moderate Buy” and a consensus target price of $412.33.

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.