Total Investment Management Inc. Sells 117 Shares of Caterpillar Inc. (NYSE:CAT)

Total Investment Management Inc. lowered its stake in shares of Caterpillar Inc. (NYSE:CAT) by 5.4% during the first quarter, HoldingsChannel reports. The firm owned 2,058 shares of the industrial products company’s stock after selling 117 shares during the quarter. Total Investment Management Inc.’s holdings in Caterpillar were worth $754,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Fidelity D & D Bancorp Inc. acquired a new stake in shares of Caterpillar in the first quarter valued at approximately $211,000. OneAscent Financial Services LLC boosted its position in Caterpillar by 11.1% during the first quarter. OneAscent Financial Services LLC now owns 11,265 shares of the industrial products company’s stock worth $4,128,000 after purchasing an additional 1,126 shares during the period. S.E.E.D. Planning Group LLC bought a new position in shares of Caterpillar in the first quarter valued at about $327,000. Webster Bank N. A. lifted its stake in shares of Caterpillar by 0.4% during the 1st quarter. Webster Bank N. A. now owns 14,619 shares of the industrial products company’s stock worth $5,357,000 after buying an additional 56 shares during the last quarter. Finally, OneAscent Wealth Management LLC boosted its holdings in shares of Caterpillar by 71.6% during the 1st quarter. OneAscent Wealth Management LLC now owns 1,955 shares of the industrial products company’s stock worth $716,000 after buying an additional 816 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analyst Upgrades and Downgrades

CAT has been the subject of several research reports. Raymond James assumed coverage on shares of Caterpillar in a research report on Friday. They set a “market perform” rating for the company. TD Cowen upped their price target on shares of Caterpillar from $338.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Stifel Nicolaus cut shares of Caterpillar from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $293.00 to $350.00 in a research note on Friday, April 26th. JPMorgan Chase & Co. boosted their price objective on shares of Caterpillar from $385.00 to $435.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. Finally, HSBC lifted their price target on shares of Caterpillar from $330.00 to $360.00 and gave the company a “hold” rating in a research report on Tuesday, April 30th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Caterpillar has an average rating of “Hold” and an average target price of $329.63.

Insider Buying and Selling

In related news, Director David Maclennan bought 500 shares of Caterpillar stock in a transaction that occurred on Friday, May 3rd. The shares were acquired at an average cost of $337.39 per share, for a total transaction of $168,695.00. Following the completion of the acquisition, the director now directly owns 5,738 shares of the company’s stock, valued at approximately $1,935,943.82. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Lange Bob De sold 21,847 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $356.90, for a total value of $7,797,194.30. Following the transaction, the insider now directly owns 71,115 shares of the company’s stock, valued at approximately $25,380,943.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David Maclennan bought 500 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were acquired at an average cost of $337.39 per share, with a total value of $168,695.00. Following the purchase, the director now directly owns 5,738 shares of the company’s stock, valued at $1,935,943.82. The disclosure for this purchase can be found here. 0.33% of the stock is owned by corporate insiders.

Caterpillar Trading Up 1.7 %

Caterpillar stock traded up $5.64 during trading hours on Friday, hitting $333.10. The stock had a trading volume of 8,891,479 shares, compared to its average volume of 3,519,845. The stock has a market cap of $162.90 billion, a price-to-earnings ratio of 15.04, a P/E/G ratio of 1.68 and a beta of 1.14. The company has a quick ratio of 0.83, a current ratio of 1.35 and a debt-to-equity ratio of 1.41. The business’s 50 day simple moving average is $340.31 and its 200-day simple moving average is $328.57. Caterpillar Inc. has a one year low of $223.76 and a one year high of $382.01.

Caterpillar (NYSE:CAT) last posted its earnings results on Thursday, April 25th. The industrial products company reported $5.60 EPS for the quarter, topping the consensus estimate of $5.12 by $0.48. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. The business had revenue of $15.80 billion for the quarter, compared to the consensus estimate of $16.07 billion. On average, equities analysts predict that Caterpillar Inc. will post 21.84 EPS for the current fiscal year.

Caterpillar Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Monday, July 22nd will be issued a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a yield of 1.69%. This is an increase from Caterpillar’s previous quarterly dividend of $1.30. The ex-dividend date is Monday, July 22nd. Caterpillar’s dividend payout ratio is presently 23.48%.

Caterpillar announced that its board has authorized a stock repurchase plan on Wednesday, June 12th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the industrial products company to buy up to 12.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

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.