Caterpillar Inc. (NYSE:CAT) Stock Holdings Decreased by Symphony Financial Ltd. Co.

Symphony Financial Ltd. Co. cut its holdings in Caterpillar Inc. (NYSE:CAT) by 62.4% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 2,170 shares of the industrial products company’s stock after selling 3,606 shares during the period. Symphony Financial Ltd. Co.’s holdings in Caterpillar were worth $795,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of CAT. Partnership Wealth Management LLC acquired a new position in shares of Caterpillar in the 4th quarter valued at about $26,000. Richardson Financial Services Inc. acquired a new position in shares of Caterpillar in the 4th quarter valued at about $27,000. Thompson Investment Management Inc. acquired a new position in shares of Caterpillar in the 1st quarter valued at about $27,000. Gilfoyle & Co LLC acquired a new position in shares of Caterpillar in the 4th quarter valued at about $30,000. Finally, Vima LLC acquired a new position in shares of Caterpillar in the 4th quarter valued at about $30,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Lange Bob De sold 21,847 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $356.90, for a total value of $7,797,194.30. Following the completion of the transaction, the insider now owns 71,115 shares of the company’s stock, valued at approximately $25,380,943.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Cheryl H. Johnson sold 1,508 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 20,023 shares of the company’s stock, valued at approximately $6,807,820. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lange Bob De sold 21,847 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $356.90, for a total transaction of $7,797,194.30. Following the completion of the transaction, the insider now directly owns 71,115 shares of the company’s stock, valued at approximately $25,380,943.50. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Caterpillar Price Performance

NYSE:CAT traded up $5.64 during trading hours on Friday, reaching $333.10. 8,891,479 shares of the company’s stock were exchanged, compared to its average volume of 3,519,845. The company has a market capitalization of $162.90 billion, a P/E ratio of 15.04, a price-to-earnings-growth ratio of 1.71 and a beta of 1.14. Caterpillar Inc. has a 12 month low of $223.76 and a 12 month high of $382.01. The company has a quick ratio of 0.83, a current ratio of 1.35 and a debt-to-equity ratio of 1.41. The business’s 50-day simple moving average is $340.31 and its two-hundred day simple moving average is $329.04.

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 analysts’ consensus estimates of $5.12 by $0.48. The firm had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $16.07 billion. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. Sell-side analysts expect that Caterpillar Inc. will post 21.84 EPS for the current fiscal year.

Caterpillar announced that its board has initiated a share repurchase program on Wednesday, June 12th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the industrial products company to buy up to 12.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Caterpillar Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Monday, July 22nd will be issued a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a yield of 1.69%. This is a boost from Caterpillar’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Monday, July 22nd. Caterpillar’s dividend payout ratio (DPR) is presently 25.46%.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Truist Financial initiated coverage on shares of Caterpillar in a report on Thursday, March 14th. They issued a “buy” rating and a $390.00 price target for the company. The Goldman Sachs Group boosted their target price on shares of Caterpillar from $357.00 to $408.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Citigroup initiated coverage on shares of Caterpillar in a research note on Wednesday. They set a “buy” rating and a $380.00 target price for the company. JPMorgan Chase & Co. boosted their target price on shares of Caterpillar from $385.00 to $435.00 and gave the company an “overweight” rating in a research note on Tuesday, April 16th. Finally, TD Cowen boosted their target price on shares of Caterpillar from $338.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, April 26th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $329.63.

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.