Symphony Financial Ltd. Co. Lowers Stock Position in Caterpillar Inc. (NYSE:CAT)

Symphony Financial Ltd. Co. reduced its stake in Caterpillar Inc. (NYSE:CAT) by 9.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,217 shares of the industrial products company’s stock after selling 649 shares during the quarter. Caterpillar comprises approximately 1.2% of Symphony Financial Ltd. Co.’s portfolio, making the stock its 19th biggest holding. Symphony Financial Ltd. Co.’s holdings in Caterpillar were worth $2,050,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Flagship Wealth Advisors LLC bought a new position in Caterpillar during the fourth quarter valued at approximately $26,000. Halbert Hargrove Global Advisors LLC bought a new position in Caterpillar during the fourth quarter valued at approximately $27,000. Cyrus J. Lawrence LLC bought a new position in Caterpillar during the fourth quarter valued at approximately $27,000. Noble Wealth Management PBC bought a new position in Caterpillar during the fourth quarter valued at approximately $31,000. Finally, Investment Management Corp VA ADV bought a new position in Caterpillar during the fourth quarter valued at approximately $33,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Stock Performance

NYSE:CAT opened at $366.65 on Tuesday. The stock has a market cap of $172.71 billion, a P/E ratio of 17.87, a price-to-earnings-growth ratio of 2.40 and a beta of 1.37. The firm’s fifty day simple moving average is $335.33 and its 200 day simple moving average is $346.24. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $418.50. The company has a quick ratio of 0.77, a current ratio of 1.32 and a debt-to-equity ratio of 1.43.

Caterpillar (NYSE:CAT) last released its quarterly 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). The company had revenue of $14.25 billion during the quarter, compared to the consensus estimate of $14.64 billion. Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. The business’s revenue was down 9.8% on a year-over-year basis. During the same quarter last year, the firm earned $5.60 EPS. As a group, research analysts predict that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st will be given a dividend of $1.51 per share. The ex-dividend date is Monday, July 21st. This represents a $6.04 annualized dividend and a yield of 1.65%. This is a positive change from Caterpillar’s previous quarterly dividend of $1.41. Caterpillar’s dividend payout ratio (DPR) is currently 27.49%.

Analyst Upgrades and Downgrades

CAT has been the topic of a number of recent research reports. Robert W. Baird increased their price target on shares of Caterpillar from $395.00 to $422.00 and gave the company an “outperform” rating in a research report on Friday. UBS Group upgraded shares of Caterpillar from a “sell” rating to a “neutral” rating and raised their target price for the stock from $272.00 to $357.00 in a report on Friday, May 16th. DA Davidson raised their target price on shares of Caterpillar from $325.00 to $331.00 and gave the stock a “neutral” rating in a report on Monday, May 5th. Oppenheimer upgraded shares of Caterpillar from a “market perform” rating to an “outperform” rating and set a $395.00 target price on the stock in a report on Thursday, May 1st. Finally, Wall Street Zen cut shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Caterpillar has an average rating of “Moderate Buy” and a consensus target price of $376.67.

Insider Buying and Selling at Caterpillar

In other news, Director David Maclennan acquired 375 shares of the stock in a transaction on Wednesday, May 7th. The stock was acquired at an average price of $320.70 per share, with a total value of $120,262.50. Following the completion of the transaction, the director now owns 6,653 shares of the company’s stock, valued at $2,133,617.10. This represents a 5.97% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.33% of the company’s stock.

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.