Caterpillar Inc. (NYSE:CAT) Shares Sold by G&S Capital LLC

G&S Capital LLC lowered its position in shares of Caterpillar Inc. (NYSE:CAT) by 56.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,785 shares of the industrial products company’s stock after selling 6,137 shares during the period. G&S Capital LLC’s holdings in Caterpillar were worth $1,753,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Partnership Wealth Management LLC purchased a new stake in Caterpillar during the fourth quarter worth approximately $26,000. Richardson Financial Services Inc. acquired a new position in shares of Caterpillar in the 4th quarter valued at $27,000. Thompson Investment Management Inc. purchased a new position in shares of Caterpillar in the 1st quarter valued at $27,000. Gilfoyle & Co LLC purchased a new stake in Caterpillar in the fourth quarter valued at $30,000. Finally, Vima LLC acquired a new position in Caterpillar in the fourth quarter valued at $30,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on CAT shares. Truist Financial initiated coverage on Caterpillar in a report on Thursday, March 14th. They issued a “buy” rating and a $390.00 target price for the company. JPMorgan Chase & Co. lifted their target price on shares of Caterpillar from $385.00 to $435.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. HSBC raised their price objective on shares of Caterpillar from $330.00 to $360.00 and gave the stock a “hold” rating in a research report on Tuesday, April 30th. The Goldman Sachs Group increased their target price on shares of Caterpillar from $357.00 to $408.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, Stifel Nicolaus downgraded Caterpillar from a “buy” rating to a “hold” rating and upped their price objective for the company from $293.00 to $350.00 in a research note on Friday, April 26th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $329.63.

Insider Buying and Selling at Caterpillar

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

Caterpillar Stock Performance

NYSE:CAT opened at $326.73 on Thursday. 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 fifty-two week low of $223.76 and a fifty-two week high of $382.01. The firm’s fifty day simple moving average is $341.98 and its 200-day simple moving average is $328.08. The stock has a market cap of $159.79 billion, a PE ratio of 14.75, a price-to-earnings-growth ratio of 1.68 and a beta of 1.14.

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

Caterpillar Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Monday, July 22nd will be given a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a yield of 1.73%. This is an increase from Caterpillar’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Monday, July 22nd. Caterpillar’s payout ratio is presently 23.48%.

Caterpillar announced that its board has initiated a stock buyback program on Wednesday, June 12th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the industrial products company to purchase up to 12.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Caterpillar 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.