Argus Investors Counsel Inc. Sells 2,245 Shares of Caterpillar Inc. (NYSE:CAT)

Argus Investors Counsel Inc. cut its holdings in Caterpillar Inc. (NYSE:CATFree Report) by 34.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,355 shares of the industrial products company’s stock after selling 2,245 shares during the period. Argus Investors Counsel Inc.’s holdings in Caterpillar were worth $1,596,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in Caterpillar by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 48,353,370 shares of the industrial products company’s stock worth $14,296,641,000 after buying an additional 129,216 shares in the last quarter. Capital World Investors grew its position in Caterpillar by 0.3% during the fourth quarter. Capital World Investors now owns 29,029,953 shares of the industrial products company’s stock worth $8,583,372,000 after buying an additional 96,479 shares in the last quarter. Fisher Asset Management LLC grew its position in Caterpillar by 2.3% during the fourth quarter. Fisher Asset Management LLC now owns 8,145,840 shares of the industrial products company’s stock worth $2,408,481,000 after buying an additional 179,908 shares in the last quarter. Northern Trust Corp grew its position in Caterpillar by 1.6% during the third quarter. Northern Trust Corp now owns 6,962,809 shares of the industrial products company’s stock worth $1,900,847,000 after buying an additional 111,384 shares in the last quarter. Finally, Morgan Stanley grew its position in Caterpillar by 0.7% during the third quarter. Morgan Stanley now owns 6,830,849 shares of the industrial products company’s stock worth $1,864,823,000 after buying an additional 47,258 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Price Performance

Shares of Caterpillar stock traded down $5.24 during midday trading on Thursday, reaching $350.70. The company had a trading volume of 2,698,753 shares, compared to its average volume of 2,473,414. The company has a current ratio of 1.35, a quick ratio of 0.83 and a debt-to-equity ratio of 1.41. The stock has a fifty day simple moving average of $356.94 and a 200 day simple moving average of $313.62. Caterpillar Inc. has a 1-year low of $205.60 and a 1-year high of $382.01. The company has a market capitalization of $171.51 billion, a price-to-earnings ratio of 15.83, a price-to-earnings-growth ratio of 1.84 and a beta of 1.19.

Caterpillar (NYSE:CATGet Free Report) last released its earnings results on Thursday, April 25th. The industrial products company reported $5.60 EPS for the quarter, beating the consensus estimate of $5.12 by $0.48. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. The company had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $16.07 billion. As a group, equities research analysts forecast that Caterpillar Inc. will post 21.8 earnings per share for the current year.

Caterpillar Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, April 22nd were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Friday, April 19th. This represents a $5.20 dividend on an annualized basis and a yield of 1.48%. Caterpillar’s payout ratio is presently 23.48%.

Insider Transactions at Caterpillar

In other Caterpillar news, insider Anthony D. Fassino sold 4,575 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $329.80, for a total transaction of $1,508,835.00. Following the completion of the sale, the insider now owns 23,474 shares in the company, valued at approximately $7,741,725.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director David Maclennan acquired 350 shares of Caterpillar stock in a transaction that occurred on Friday, February 23rd. The shares were acquired at an average price of $323.37 per share, with a total value of $113,179.50. Following the purchase, the director now directly owns 5,238 shares of the company’s stock, valued at $1,693,812.06. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Anthony D. Fassino sold 4,575 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $329.80, for a total transaction of $1,508,835.00. Following the completion of the sale, the insider now directly owns 23,474 shares of the company’s stock, valued at approximately $7,741,725.20. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CAT shares. Citigroup lifted their target price on Caterpillar from $255.00 to $340.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. StockNews.com downgraded Caterpillar from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 20th. The Goldman Sachs Group lifted their price objective on Caterpillar from $357.00 to $408.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. JPMorgan Chase & Co. lifted their price objective on Caterpillar from $385.00 to $435.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. Finally, TD Cowen lifted their price objective on Caterpillar from $338.00 to $340.00 and gave the company a “buy” rating in a report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $323.35.

Read Our Latest Research Report on CAT

Caterpillar Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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