Caterpillar Inc. (NYSE:CAT) Stake Lowered by Folger Nolan Fleming Douglas Capital Management Inc.

Folger Nolan Fleming Douglas Capital Management Inc. reduced its stake in shares of Caterpillar Inc. (NYSE:CAT) by 3.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,142 shares of the industrial products company’s stock after selling 973 shares during the period. Caterpillar accounts for 1.1% of Folger Nolan Fleming Douglas Capital Management Inc.’s investment portfolio, making the stock its 24th biggest holding. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Caterpillar were worth $9,941,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Flagship Wealth Advisors LLC acquired a new stake in shares of Caterpillar in the 4th quarter valued at $26,000. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Caterpillar in the 4th quarter valued at $27,000. Cyrus J. Lawrence LLC acquired a new stake in shares of Caterpillar in the 4th quarter valued at $27,000. Noble Wealth Management PBC acquired a new stake in shares of Caterpillar in the 4th quarter valued at $31,000. Finally, Investment Management Corp VA ADV acquired a new stake in shares of Caterpillar in the 4th quarter valued at $33,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Stock Performance

NYSE:CAT opened at $360.85 on Friday. The company has a market cap of $169.98 billion, a price-to-earnings ratio of 16.35, a PEG ratio of 1.87 and a beta of 1.37. The firm’s 50-day moving average is $325.40 and its 200-day moving average is $348.98. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $418.50. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42.

Caterpillar (NYSE:CAT) last posted its earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share for the quarter, missing analysts’ consensus estimates of $4.35 by ($0.10). The business had revenue of $14.25 billion during the quarter, compared to the consensus estimate of $14.64 billion. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. The business’s revenue was down 9.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.60 EPS. Equities research analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, July 21st will be paid a $1.51 dividend. The ex-dividend date is Monday, July 21st. This represents a $6.04 dividend on an annualized basis and a yield of 1.67%. This is a boost from Caterpillar’s previous quarterly dividend of $1.41. Caterpillar’s payout ratio is presently 27.49%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Wall Street Zen lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Citigroup boosted their target price on shares of Caterpillar from $320.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, May 5th. Truist Financial reissued a “buy” rating and set a $396.00 target price (up previously from $389.00) on shares of Caterpillar in a research report on Thursday, May 1st. Oppenheimer raised shares of Caterpillar from a “market perform” rating to an “outperform” rating and set a $395.00 target price for the company in a research report on Thursday, May 1st. Finally, Baird R W raised shares of Caterpillar from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 13th. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $372.92.

Insider Activity at Caterpillar

In other Caterpillar news, Director David Maclennan bought 375 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were acquired at an average price of $320.70 per share, with a total value of $120,262.50. Following the completion of the purchase, the director now directly owns 6,653 shares in the company, valued at $2,133,617.10. The trade was a 5.97% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.33% of the stock is currently owned by insiders.

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.