Concurrent Investment Advisors LLC Reduces Holdings in Caterpillar Inc. (NYSE:CAT)

Concurrent Investment Advisors LLC lessened its position in shares of Caterpillar Inc. (NYSE:CAT) by 15.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,799 shares of the industrial products company’s stock after selling 3,948 shares during the period. Concurrent Investment Advisors LLC’s holdings in Caterpillar were worth $7,189,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. BBR Partners LLC lifted its position in shares of Caterpillar by 0.7% during the 4th quarter. BBR Partners LLC now owns 4,162 shares of the industrial products company’s stock valued at $1,510,000 after buying an additional 30 shares during the last quarter. McIlrath & Eck LLC lifted its holdings in Caterpillar by 3.2% during the 4th quarter. McIlrath & Eck LLC now owns 962 shares of the industrial products company’s stock worth $349,000 after purchasing an additional 30 shares in the last quarter. Rakuten Securities Inc. lifted its holdings in Caterpillar by 20.3% during the 4th quarter. Rakuten Securities Inc. now owns 184 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 31 shares in the last quarter. Asset Management Group Inc. lifted its holdings in Caterpillar by 0.3% during the 4th quarter. Asset Management Group Inc. now owns 10,771 shares of the industrial products company’s stock worth $3,907,000 after purchasing an additional 32 shares in the last quarter. Finally, Dunhill Financial LLC lifted its holdings in Caterpillar by 21.3% during the 4th quarter. Dunhill Financial LLC now owns 205 shares of the industrial products company’s stock worth $75,000 after purchasing an additional 36 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Price Performance

Shares of NYSE CAT opened at $399.33 on Friday. The firm has a market capitalization of $188.10 billion, a P/E ratio of 19.46, a P/E/G ratio of 2.64 and a beta of 1.38. The company has a quick ratio of 0.77, a current ratio of 1.32 and a debt-to-equity ratio of 1.43. The stock’s 50-day simple moving average is $351.96 and its two-hundred day simple moving average is $346.95. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $418.50.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $4.25 EPS for the quarter, missing the consensus estimate of $4.35 by ($0.10). The firm had revenue of $14.25 billion for the quarter, compared to the consensus estimate of $14.64 billion. Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. Caterpillar’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same quarter last year, the company posted $5.60 earnings per share. As a group, equities analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st will be given a dividend of $1.51 per share. The ex-dividend date is Monday, July 21st. This is a positive change from Caterpillar’s previous quarterly dividend of $1.41. This represents a $6.04 annualized dividend and a dividend yield of 1.51%. Caterpillar’s dividend payout ratio is 27.49%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CAT. DA Davidson increased their price objective on Caterpillar from $325.00 to $331.00 and gave the stock a “neutral” rating in a report on Monday, May 5th. JPMorgan Chase & Co. dropped their price objective on Caterpillar from $490.00 to $380.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Evercore ISI dropped their price objective on Caterpillar from $375.00 to $373.00 and set an “in-line” rating on the stock in a report on Monday, May 19th. Oppenheimer raised Caterpillar from a “market perform” rating to an “outperform” rating and set a $395.00 price objective on the stock in a report on Thursday, May 1st. Finally, Truist Financial increased their price objective on Caterpillar from $396.00 to $414.00 and gave the stock a “buy” rating in a report on Monday, June 23rd. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Caterpillar has an average rating of “Moderate Buy” and a consensus target price of $380.83.

Insider Activity at Caterpillar

In other news, Director David Maclennan acquired 375 shares of Caterpillar stock in a transaction dated Wednesday, May 7th. The shares were purchased at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the transaction, the director owned 6,653 shares of the company’s stock, valued at $2,133,617.10. This trade represents a 5.97% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.33% of the company’s stock.

Caterpillar Company 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.