Oxinas Partners Wealth Management LLC Sells 207 Shares of Caterpillar Inc. (NYSE:CAT)

Oxinas Partners Wealth Management LLC reduced its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 27.2% in the first quarter, HoldingsChannel reports. The fund owned 554 shares of the industrial products company’s stock after selling 207 shares during the period. Oxinas Partners Wealth Management LLC’s holdings in Caterpillar were worth $203,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of CAT. Partnership Wealth Management LLC bought a new stake in Caterpillar during the 4th quarter valued at about $26,000. Richardson Financial Services Inc. purchased a new stake in shares of Caterpillar during the fourth quarter valued at approximately $27,000. Thompson Investment Management Inc. bought a new stake in shares of Caterpillar during the first quarter valued at approximately $27,000. Gilfoyle & Co LLC purchased a new position in Caterpillar in the 4th quarter worth approximately $30,000. Finally, Vima LLC bought a new position in Caterpillar in the 4th quarter valued at approximately $30,000. Institutional investors own 70.98% of the company’s stock.

Insider Buying and Selling

In related news, Director David Maclennan purchased 500 shares of Caterpillar stock in a transaction on Friday, May 3rd. The shares were bought at an average cost of $337.39 per share, for a total transaction 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Lange Bob De sold 21,847 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $356.90, for a total value of $7,797,194.30. Following the sale, the insider now owns 71,115 shares of the company’s stock, valued at $25,380,943.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director David Maclennan acquired 500 shares of Caterpillar stock in a transaction that occurred on Friday, May 3rd. The stock was purchased at an average cost of $337.39 per share, for a total transaction of $168,695.00. Following the completion of the transaction, the director now directly owns 5,738 shares in the company, valued at $1,935,943.82. The disclosure for this purchase can be found here. 0.33% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. TD Cowen boosted their price target on Caterpillar from $338.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Truist Financial began coverage on Caterpillar in a research report on Thursday, March 14th. They issued a “buy” rating and a $390.00 target price for the company. Citigroup assumed coverage on shares of Caterpillar in a report on Wednesday, June 26th. They set a “buy” rating and a $380.00 price target on the stock. Stifel Nicolaus cut shares of Caterpillar from a “buy” rating to a “hold” rating and boosted their price objective for the company from $293.00 to $350.00 in a report on Friday, April 26th. Finally, JPMorgan Chase & Co. raised their target price on shares of Caterpillar from $385.00 to $435.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $329.63.

Caterpillar Stock Performance

CAT traded down $1.34 during midday trading on Tuesday, reaching $327.74. The company had a trading volume of 2,119,834 shares, compared to its average volume of 2,717,345. The business has a 50-day moving average of $339.03 and a two-hundred day moving average of $330.08. The company has a quick ratio of 0.83, a current ratio of 1.35 and a debt-to-equity ratio of 1.41. Caterpillar Inc. has a 1 year low of $223.76 and a 1 year high of $382.01. The company has a market cap of $160.28 billion, a P/E ratio of 14.80, a P/E/G ratio of 1.71 and a beta of 1.12.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Thursday, April 25th. The industrial products company reported $5.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.12 by $0.48. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. The business had revenue of $15.80 billion during the quarter, compared to analyst estimates of $16.07 billion. As a group, equities research analysts predict that Caterpillar Inc. will post 21.84 earnings per share for the current fiscal year.

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

Caterpillar Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Monday, July 22nd will be given a dividend of $1.41 per share. The ex-dividend date of this dividend is Monday, July 22nd. This represents a $5.64 annualized dividend and a dividend yield of 1.72%. This is a boost from Caterpillar’s previous quarterly dividend of $1.30. Caterpillar’s dividend payout ratio (DPR) is presently 23.48%.

Caterpillar Company 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.