Puzo Michael J Sells 1,175 Shares of Caterpillar Inc. $CAT

Puzo Michael J lowered its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 51.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,125 shares of the industrial products company’s stock after selling 1,175 shares during the period. Puzo Michael J’s holdings in Caterpillar were worth $797,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CAT. Cornerstone Advisory LLC grew its position in shares of Caterpillar by 0.7% during the 1st quarter. Cornerstone Advisory LLC now owns 1,818 shares of the industrial products company’s stock worth $1,288,000 after buying an additional 12 shares during the period. Advisory Resource Group lifted its position in shares of Caterpillar by 0.8% during the 4th quarter. Advisory Resource Group now owns 1,632 shares of the industrial products company’s stock valued at $935,000 after acquiring an additional 13 shares during the period. Sunbeam Capital Management LLC boosted its stake in Caterpillar by 1.1% during the first quarter. Sunbeam Capital Management LLC now owns 1,164 shares of the industrial products company’s stock worth $825,000 after acquiring an additional 13 shares in the last quarter. Brandywine Oak Private Wealth LLC grew its holdings in Caterpillar by 2.6% in the first quarter. Brandywine Oak Private Wealth LLC now owns 506 shares of the industrial products company’s stock worth $358,000 after purchasing an additional 13 shares during the period. Finally, Sylvest Advisors LLC increased its stake in Caterpillar by 3.6% in the first quarter. Sylvest Advisors LLC now owns 377 shares of the industrial products company’s stock valued at $267,000 after purchasing an additional 13 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Trading Down 1.8%

NYSE:CAT opened at $864.72 on Tuesday. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 0.81. Caterpillar Inc. has a one year low of $405.46 and a one year high of $1,073.46. The company has a market cap of $398.28 billion, a PE ratio of 43.04, a PEG ratio of 1.72 and a beta of 1.57. The firm has a 50-day moving average of $930.07 and a 200-day moving average of $796.99.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Thursday, April 30th. The industrial products company reported $5.54 earnings per share for the quarter, beating the consensus estimate of $4.65 by $0.89. The business had revenue of $17.41 billion for the quarter, compared to analysts’ expectations of $16.53 billion. Caterpillar had a net margin of 13.33% and a return on equity of 48.21%. The firm’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same quarter last year, the firm earned $4.25 EPS. As a group, equities research analysts expect that Caterpillar Inc. will post 24.87 EPS for the current fiscal year.

Caterpillar Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Monday, July 20th will be issued a $1.63 dividend. This is a boost from Caterpillar’s previous quarterly dividend of $1.51. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Monday, July 20th. Caterpillar’s dividend payout ratio is 30.06%.

Insider Activity at Caterpillar

In related news, insider Denise C. Johnson sold 12,605 shares of Caterpillar stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $907.91, for a total transaction of $11,444,205.55. Following the transaction, the insider owned 49,825 shares of the company’s stock, valued at $45,236,615.75. The trade was a 20.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Anthony D. Fassino sold 16,283 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $916.80, for a total value of $14,928,254.40. Following the sale, the insider owned 46,041 shares of the company’s stock, valued at $42,210,388.80. This trade represents a 26.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 95,773 shares of company stock valued at $87,642,635 over the last 90 days. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CAT. Morgan Stanley set a $915.00 price objective on shares of Caterpillar and gave the company an “equal weight” rating in a report on Friday, May 1st. HSBC upped their price target on Caterpillar from $850.00 to $1,100.00 in a research note on Tuesday, May 5th. Truist Financial increased their price target on Caterpillar from $1,043.00 to $1,218.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Bank of America boosted their price objective on Caterpillar from $930.00 to $989.00 and gave the company a “buy” rating in a report on Friday, May 1st. Finally, Argus upped their target price on Caterpillar from $820.00 to $990.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Fifteen equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, Caterpillar presently has a consensus rating of “Moderate Buy” and a consensus price target of $980.57.

About Caterpillar

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off?highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.