Caterpillar Inc. (NYSE:CAT) Shares Sold by Quintet Private Bank Europe S.A.

Quintet Private Bank Europe S.A. lowered its stake in shares of Caterpillar Inc. (NYSE:CAT) by 1.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,416 shares of the industrial products company’s stock after selling 64 shares during the quarter. Quintet Private Bank Europe S.A.’s holdings in Caterpillar were worth $1,127,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Flagship Wealth Advisors LLC acquired a new stake in shares of Caterpillar in the 4th quarter valued at about $26,000. Halbert Hargrove Global Advisors LLC acquired a new position in Caterpillar in the fourth quarter worth about $27,000. Cyrus J. Lawrence LLC acquired a new position in Caterpillar in the fourth quarter worth about $27,000. Noble Wealth Management PBC bought a new position in Caterpillar during the 4th quarter worth approximately $31,000. Finally, Investment Management Corp VA ADV bought a new position in Caterpillar during the 4th quarter worth approximately $33,000. 70.98% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Caterpillar

In other news, Director David Maclennan bought 375 shares of the business’s stock in a transaction on Wednesday, May 7th. The stock was purchased at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the completion of the transaction, the director now directly owns 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.33% of the stock is owned by corporate insiders.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $360.85 on Friday. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $418.50. The firm has a market capitalization of $169.98 billion, a P/E ratio of 16.35, a PEG ratio of 1.87 and a beta of 1.37. The firm’s 50 day moving average is $325.40 and its two-hundred day moving average is $348.98. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.35 by ($0.10). Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. The business had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.64 billion. During the same quarter last year, the firm posted $5.60 EPS. The company’s revenue was down 9.8% compared to the same quarter last year. Analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st will be paid a dividend of $1.51 per share. This is a boost from Caterpillar’s previous quarterly dividend of $1.41. The ex-dividend date is Monday, July 21st. This represents a $6.04 annualized dividend and a yield of 1.67%. Caterpillar’s dividend payout ratio (DPR) is presently 27.49%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CAT shares. Truist Financial reissued a “buy” rating and set a $396.00 price target (up from $389.00) on shares of Caterpillar in a research report on Thursday, May 1st. Oppenheimer upgraded shares of Caterpillar from a “market perform” rating to an “outperform” rating and set a $395.00 target price for the company in a research note on Thursday, May 1st. Evercore ISI decreased their price target on shares of Caterpillar from $375.00 to $373.00 and set an “in-line” rating for the company in a report on Monday, May 19th. JPMorgan Chase & Co. decreased their price target on shares of Caterpillar from $490.00 to $380.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Finally, Morgan Stanley raised shares of Caterpillar from an “underweight” rating to an “equal weight” rating and cut their target price for the stock from $300.00 to $283.00 in a report on Wednesday, April 16th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $372.92.

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.