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

Winthrop Advisory Group LLC trimmed its stake in Caterpillar Inc. (NYSE:CAT) by 2.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,032 shares of the industrial products company’s stock after selling 49 shares during the quarter. Winthrop Advisory Group LLC’s holdings in Caterpillar were worth $744,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. CRA Financial Services LLC raised its position in Caterpillar by 12.9% during the first quarter. CRA Financial Services LLC now owns 4,368 shares of the industrial products company’s stock valued at $1,601,000 after buying an additional 500 shares during the period. Private Ocean LLC raised its position in Caterpillar by 23.4% during the first quarter. Private Ocean LLC now owns 190 shares of the industrial products company’s stock valued at $70,000 after buying an additional 36 shares during the period. Baker Ellis Asset Management LLC raised its position in Caterpillar by 78.4% during the first quarter. Baker Ellis Asset Management LLC now owns 1,427 shares of the industrial products company’s stock valued at $523,000 after buying an additional 627 shares during the period. First Bank & Trust acquired a new position in Caterpillar during the first quarter valued at $262,000. Finally, Opinicus Capital Inc. acquired a new position in Caterpillar during the first quarter valued at $250,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Cheryl H. Johnson sold 1,508 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $340.00, for a total value of $512,720.00. Following the completion of the transaction, the insider now owns 20,023 shares of the company’s stock, valued at approximately $6,807,820. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director David Maclennan bought 500 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was acquired at an average cost of $337.39 per share, with a total value of $168,695.00. Following the acquisition, the director now owns 5,738 shares in the company, valued at approximately $1,935,943.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Cheryl H. Johnson sold 1,508 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $340.00, for a total value of $512,720.00. Following the completion of the transaction, the insider now directly owns 20,023 shares of the company’s stock, valued at $6,807,820. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Caterpillar Stock Performance

NYSE:CAT traded up $5.64 during mid-day trading on Friday, hitting $333.10. 8,891,479 shares of the company’s stock traded hands, compared to its average volume of 3,519,845. The firm has a 50 day moving average of $340.31 and a two-hundred day moving average of $329.04. Caterpillar Inc. has a 12 month low of $223.76 and a 12 month high of $382.01. The firm has a market capitalization of $162.90 billion, a price-to-earnings ratio of 15.04, a price-to-earnings-growth ratio of 1.71 and a beta of 1.14. The company has a current ratio of 1.35, a quick ratio of 0.83 and a debt-to-equity ratio of 1.41.

Caterpillar (NYSE:CAT) last announced its earnings results on Thursday, April 25th. The industrial products company reported $5.60 earnings per share for the quarter, beating the consensus estimate of $5.12 by $0.48. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. The firm had revenue of $15.80 billion during the quarter, compared to the consensus estimate of $16.07 billion. On average, equities analysts forecast that Caterpillar Inc. will post 21.84 earnings per share for the current fiscal year.

Caterpillar declared that its Board of Directors has initiated a share buyback program on Wednesday, June 12th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the industrial products company to purchase up to 12.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Caterpillar Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Monday, July 22nd will be issued a $1.41 dividend. This is a boost from Caterpillar’s previous quarterly dividend of $1.30. The ex-dividend date is Monday, July 22nd. This represents a $5.64 annualized dividend and a yield of 1.69%. Caterpillar’s dividend payout ratio is 25.46%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CAT shares. Oppenheimer reissued a “market perform” rating on shares of Caterpillar in a research report on Thursday, April 18th. Truist Financial assumed coverage on Caterpillar in a research report on Thursday, March 14th. They issued a “buy” rating and a $390.00 target price on the stock. JPMorgan Chase & Co. upped their target price on Caterpillar from $385.00 to $435.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. Raymond James assumed coverage on Caterpillar in a research report on Friday. They issued a “market perform” rating on the stock. Finally, Citigroup assumed coverage on Caterpillar in a research report on Wednesday. They issued a “buy” rating and a $380.00 target price on the stock. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $329.63.

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.