Coastwise Capital Group LLC Sells 406 Shares of Caterpillar Inc. (NYSE:CAT)

Coastwise Capital Group LLC reduced its position in shares of Caterpillar Inc. (NYSE:CAT) by 24.6% in the 1st quarter, HoldingsChannel.com reports. The firm owned 1,243 shares of the industrial products company’s stock after selling 406 shares during the quarter. Coastwise Capital Group LLC’s holdings in Caterpillar were worth $410,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. McIlrath & Eck LLC raised its position in Caterpillar by 3.2% in the 4th quarter. McIlrath & Eck LLC now owns 962 shares of the industrial products company’s stock valued at $349,000 after buying an additional 30 shares during the last quarter. Asset Management Group Inc. increased its position in shares of Caterpillar by 0.3% during the 4th quarter. Asset Management Group Inc. now owns 10,771 shares of the industrial products company’s stock valued at $3,907,000 after purchasing an additional 32 shares during the last quarter. Summit X LLC increased its position in shares of Caterpillar by 3.2% during the 1st quarter. Summit X LLC now owns 1,025 shares of the industrial products company’s stock valued at $338,000 after purchasing an additional 32 shares during the last quarter. Dunhill Financial LLC increased its position in shares of Caterpillar by 21.3% during the 4th quarter. Dunhill Financial LLC now owns 205 shares of the industrial products company’s stock valued at $75,000 after purchasing an additional 36 shares during the last quarter. Finally, Silvia Mccoll Wealth Management LLC increased its position in shares of Caterpillar by 2.1% during the 1st quarter. Silvia Mccoll Wealth Management LLC now owns 1,752 shares of the industrial products company’s stock valued at $578,000 after purchasing an additional 36 shares during the last quarter. 70.98% of the stock is owned by institutional investors.

Caterpillar Trading Down 1.0%

Shares of NYSE:CAT opened at $413.88 on Friday. The company has a market cap of $194.95 billion, a P/E ratio of 20.17, a PEG 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 Inc. has a 1 year low of $267.30 and a 1 year high of $419.90. The stock’s fifty day moving average price is $369.61 and its 200-day moving average price is $349.69.

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

Caterpillar Increases Dividend

The business also recently disclosed 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. This represents a $6.04 annualized dividend and a dividend yield of 1.46%. This is a positive change from Caterpillar’s previous quarterly dividend of $1.41. The ex-dividend date is Monday, July 21st. Caterpillar’s dividend payout ratio (DPR) is presently 27.49%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CAT. Truist Financial increased their price target on 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 Caterpillar from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 13th. Melius Research raised Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price target on the stock in a report on Wednesday, July 9th. Evercore ISI lowered their price target on Caterpillar from $375.00 to $373.00 and set an “in-line” rating on the stock in a report on Monday, May 19th. Finally, DA Davidson raised their price target on Caterpillar from $325.00 to $331.00 and gave the company a “neutral” rating in a report on Monday, May 5th. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Caterpillar has a consensus rating of “Moderate Buy” and a consensus price target of $412.33.

Insider Activity

In other Caterpillar news, Director David Maclennan purchased 375 shares of Caterpillar stock in a transaction dated Wednesday, May 7th. The shares were purchased at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the completion of the acquisition, the director owned 6,653 shares in the company, valued at $2,133,617.10. This represents a 5.97% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.33% of the stock is owned by insiders.

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.