Janney Capital Management LLC Sells 2,166 Shares of Caterpillar Inc. (NYSE:CAT)

Janney Capital Management LLC decreased its stake in shares of Caterpillar Inc. (NYSE:CAT) by 5.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,787 shares of the industrial products company’s stock after selling 2,166 shares during the quarter. Janney Capital Management LLC’s holdings in Caterpillar were worth $12,792,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CAT. Flagship Wealth Advisors LLC bought a new stake in Caterpillar during the 4th quarter valued at about $26,000. Halbert Hargrove Global Advisors LLC bought a new stake in Caterpillar during the 4th quarter valued at about $27,000. Cyrus J. Lawrence LLC bought a new stake in Caterpillar during the 4th quarter valued at about $27,000. Noble Wealth Management PBC bought a new stake in Caterpillar during the 4th quarter valued at about $31,000. Finally, Investment Management Corp VA ADV bought a new stake in shares of Caterpillar in the 4th quarter valued at about $33,000. Institutional investors own 70.98% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on CAT shares. JPMorgan Chase & Co. reduced 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. Robert W. Baird upgraded shares of Caterpillar from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $309.00 to $395.00 in a report on Tuesday, May 13th. Baird R W upgraded shares of Caterpillar from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 13th. Morgan Stanley upgraded shares of Caterpillar from an “underweight” rating to an “equal weight” rating and reduced their price target for the company from $300.00 to $283.00 in a report on Wednesday, April 16th. Finally, Truist Financial restated a “buy” rating and issued a $396.00 price target (up previously from $389.00) on shares of Caterpillar in a report on Thursday, May 1st. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Caterpillar currently has a consensus rating of “Moderate Buy” and a consensus price target of $372.92.

Insider Activity

In other news, Director David Maclennan bought 375 shares of Caterpillar stock in a transaction that occurred on Wednesday, May 7th. The shares were purchased at an average price of $320.70 per share, with a total value of $120,262.50. Following the completion of the acquisition, the director now directly owns 6,653 shares in the company, valued at $2,133,617.10. The trade was a 5.97% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.33% of the company’s stock.

Caterpillar Trading Up 0.6%

Shares of CAT stock opened at $359.73 on Thursday. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.32 and a quick ratio of 0.77. The firm has a market cap of $169.45 billion, a PE ratio of 17.53, a price-to-earnings-growth ratio of 2.38 and a beta of 1.37. The company has a 50-day moving average of $331.20 and a two-hundred day moving average of $347.71. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $418.50.

Caterpillar (NYSE:CAT) last announced its earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share 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 company had revenue of $14.25 billion for the quarter, compared to analysts’ expectations of $14.64 billion. During the same period last year, the business earned $5.60 EPS. The company’s quarterly revenue was down 9.8% compared to the same quarter last year. On average, analysts predict 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. Stockholders of record on Monday, July 21st will be paid a $1.51 dividend. This is a positive change 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 dividend yield of 1.68%. Caterpillar’s dividend payout ratio (DPR) is presently 27.49%.

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.