Minneapolis Portfolio Management Group LLC Sells 1,180 Shares of Caterpillar Inc. (NYSE:CAT)

Minneapolis Portfolio Management Group LLC lowered its position in Caterpillar Inc. (NYSE:CAT) by 1.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 93,063 shares of the industrial products company’s stock after selling 1,180 shares during the period. Caterpillar makes up about 4.3% of Minneapolis Portfolio Management Group LLC’s investment portfolio, making the stock its 8th biggest position. Minneapolis Portfolio Management Group LLC’s holdings in Caterpillar were worth $30,692,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of CAT. Norges Bank purchased a new stake in Caterpillar in the 4th quarter valued at approximately $2,184,364,000. GAMMA Investing LLC lifted its stake in Caterpillar by 43,447.3% in the 1st quarter. GAMMA Investing LLC now owns 3,730,259 shares of the industrial products company’s stock valued at $1,230,239,000 after buying an additional 3,721,693 shares in the last quarter. Capital Research Global Investors lifted its stake in Caterpillar by 69.3% in the 4th quarter. Capital Research Global Investors now owns 2,924,054 shares of the industrial products company’s stock valued at $1,060,730,000 after buying an additional 1,196,861 shares in the last quarter. Northern Trust Corp lifted its stake in Caterpillar by 11.8% in the 4th quarter. Northern Trust Corp now owns 6,847,330 shares of the industrial products company’s stock valued at $2,483,937,000 after buying an additional 724,477 shares in the last quarter. Finally, APG Asset Management N.V. lifted its stake in Caterpillar by 1,278.6% in the 4th quarter. APG Asset Management N.V. now owns 440,641 shares of the industrial products company’s stock valued at $154,367,000 after buying an additional 408,678 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Trading Up 0.2%

CAT stock opened at $399.33 on Friday. The company has a market cap of $188.10 billion, a price-to-earnings ratio of 19.46, a PEG 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 business has a fifty day simple moving average of $351.96 and a 200-day simple moving average of $346.84. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $418.50.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $4.25 EPS for the quarter, missing analysts’ consensus estimates of $4.35 by ($0.10). The firm had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.64 billion. Caterpillar had a return on equity of 53.77% and a net margin of 15.71%. The company’s quarterly revenue was down 9.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.60 earnings per share. On average, equities research analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Increases Dividend

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

Insiders Place Their Bets

In related news, Director David Maclennan purchased 375 shares of Caterpillar stock in a transaction dated 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 transaction, the director owned 6,653 shares of the company’s stock, valued at approximately $2,133,617.10. This trade represents a 5.97% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.33% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CAT shares. Robert W. Baird upped their target price on Caterpillar from $395.00 to $422.00 and gave the company an “outperform” rating in a research note on Friday, June 20th. Truist Financial upped their target price on Caterpillar from $396.00 to $414.00 and gave the company a “buy” rating in a research note on Monday, June 23rd. UBS Group upgraded Caterpillar from a “sell” rating to a “neutral” rating and boosted their price target for the company from $272.00 to $357.00 in a report on Friday, May 16th. Evercore ISI cut their price target on Caterpillar from $375.00 to $373.00 and set an “in-line” rating for the company in a report on Monday, May 19th. Finally, Morgan Stanley upgraded Caterpillar from an “underweight” rating to an “equal weight” rating and cut their price target for the company from $300.00 to $283.00 in a report on Wednesday, April 16th. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Caterpillar has a consensus rating of “Moderate Buy” and an average target price of $380.83.

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.