Raymond James & Associates Sells 36,719 Shares of Caterpillar Inc. (NYSE:CAT)

Raymond James & Associates decreased its position in Caterpillar Inc. (NYSE:CAT) by 5.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 604,691 shares of the industrial products company’s stock after selling 36,719 shares during the quarter. Raymond James & Associates’ holdings in Caterpillar were worth $221,577,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Lakewood Asset Management LLC boosted its position in Caterpillar by 28.2% during the 1st quarter. Lakewood Asset Management LLC now owns 3,478 shares of the industrial products company’s stock worth $1,274,000 after acquiring an additional 766 shares during the last quarter. American Institute for Advanced Investment Management LLP boosted its holdings in Caterpillar by 7.5% during the first quarter. American Institute for Advanced Investment Management LLP now owns 935 shares of the industrial products company’s stock worth $343,000 after purchasing an additional 65 shares during the last quarter. KWB Wealth bought a new position in Caterpillar in the first quarter valued at $227,000. Everett Harris & Co. CA increased its stake in Caterpillar by 7.0% in the 1st quarter. Everett Harris & Co. CA now owns 3,780 shares of the industrial products company’s stock valued at $1,385,000 after buying an additional 247 shares during the last quarter. Finally, Park Edge Advisors LLC bought a new stake in Caterpillar during the 1st quarter worth about $700,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Stock Performance

NYSE CAT traded up $5.38 during trading on Friday, reaching $343.38. The company’s stock had a trading volume of 3,324,630 shares, compared to its average volume of 2,414,735. The firm has a 50 day moving average price of $350.10 and a 200 day moving average price of $300.80. Caterpillar Inc. has a 12 month low of $204.04 and a 12 month high of $382.01. The firm has a market capitalization of $171.48 billion, a price-to-earnings ratio of 15.50, a price-to-earnings-growth ratio of 1.51 and a beta of 1.17. The company has a current ratio of 1.35, a quick ratio of 0.87 and a debt-to-equity ratio of 1.41.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Thursday, April 25th. The industrial products company reported $5.60 earnings per share (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 business had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $16.07 billion. As a group, equities analysts anticipate that Caterpillar Inc. will post 21.3 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, April 22nd will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date is Friday, April 19th. Caterpillar’s dividend payout ratio (DPR) is presently 23.48%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CAT shares. Stifel Nicolaus downgraded Caterpillar from a “buy” rating to a “hold” rating and lifted their target price for the company from $293.00 to $350.00 in a research report on Friday. Oppenheimer reissued a “market perform” rating on shares of Caterpillar in a research note on Thursday, April 18th. The Goldman Sachs Group upped their price target on shares of Caterpillar from $357.00 to $408.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. TD Cowen lifted their price objective on shares of Caterpillar from $338.00 to $340.00 and gave the company a “buy” rating in a research report on Friday. Finally, Morgan Stanley began coverage on shares of Caterpillar in a report on Monday, January 8th. They issued an “equal weight” rating and a $270.00 target price on the stock. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $310.83.

Insider Buying and Selling

In related news, insider Lange Bob De sold 21,194 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $325.52, for a total value of $6,899,070.88. Following the sale, the insider now directly owns 61,092 shares of the company’s stock, valued at $19,886,667.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Lange Bob De sold 21,194 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $325.52, for a total transaction of $6,899,070.88. Following the completion of the transaction, the insider now directly owns 61,092 shares in the company, valued at approximately $19,886,667.84. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $310.10, for a total transaction of $3,101,000.00. Following the completion of the sale, the chief financial officer now owns 57,317 shares in the company, valued at approximately $17,774,001.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,769 shares of company stock worth $11,508,906. Corporate insiders own 0.33% of the company’s stock.

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.