Caterpillar Inc. (NYSE:CAT) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. decreased its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 35.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,013 shares of the industrial products company's stock after selling 12,099 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Caterpillar were worth $8,066,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Graham Capital Management L.P. bought a new stake in Caterpillar during the third quarter valued at about $246,000. Banque Pictet & Cie SA bought a new stake in Caterpillar during the third quarter valued at about $464,000. Neo Ivy Capital Management bought a new stake in Caterpillar during the third quarter valued at about $480,000. American Century Companies Inc. boosted its position in Caterpillar by 10.9% during the third quarter. American Century Companies Inc. now owns 219,221 shares of the industrial products company's stock valued at $59,847,000 after purchasing an additional 21,553 shares in the last quarter. Finally, Raleigh Capital Management Inc. boosted its position in Caterpillar by 34.6% during the third quarter. Raleigh Capital Management Inc. now owns 4,018 shares of the industrial products company's stock valued at $1,097,000 after purchasing an additional 1,033 shares in the last quarter. Institutional investors own 70.98% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CAT. TD Cowen raised their price target on Caterpillar from $338.00 to $340.00 and gave the stock a "buy" rating in a report on Friday, April 26th. HSBC raised their price target on Caterpillar from $330.00 to $360.00 and gave the stock a "hold" rating in a report on Tuesday, April 30th. The Goldman Sachs Group raised their price target on Caterpillar from $357.00 to $408.00 and gave the stock a "buy" rating in a report on Tuesday, April 16th. StockNews.com downgraded Caterpillar from a "buy" rating to a "hold" rating in a report on Monday. Finally, Raymond James initiated coverage on Caterpillar in a report on Friday, June 28th. They issued a "market perform" rating for the company. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $329.63.

Caterpillar Stock Performance

CAT stock traded up $4.31 during trading on Friday, hitting $335.44. 2,451,277 shares of the company traded hands, compared to its average volume of 2,693,222. The stock's 50-day simple moving average is $337.16 and its 200 day simple moving average is $331.75. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.35 and a quick ratio of 0.83. The company has a market cap of $164.05 billion, a PE ratio of 15.14, a P/E/G ratio of 1.69 and a beta of 1.12. Caterpillar Inc. has a 1 year low of $223.76 and a 1 year high of $382.01.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings data on Thursday, April 25th. The industrial products company reported $5.60 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 company had revenue of $15.80 billion for the quarter, compared to analyst estimates of $16.07 billion. On average, equities analysts expect that Caterpillar Inc. will post 21.73 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Monday, July 22nd will be issued a $1.41 dividend. This is a positive change from Caterpillar's previous quarterly dividend of $1.30. This represents a $5.64 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend is Monday, July 22nd. Caterpillar's dividend payout ratio (DPR) is presently 23.48%.

Caterpillar declared that its board has authorized a share buyback program on Wednesday, June 12th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to reacquire up to 12.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

Insider Buying and Selling at Caterpillar

In other news, Director David Maclennan purchased 500 shares of the stock in a transaction dated Friday, May 3rd. The shares were purchased at an average cost of $337.39 per share, with a total value of $168,695.00. Following the completion of the purchase, the director now directly owns 5,738 shares of the company's stock, valued at approximately $1,935,943.82. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Cheryl H. Johnson sold 1,508 shares of Caterpillar stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $340.00, for a total value of $512,720.00. Following the sale, the insider now directly owns 20,023 shares of the company's stock, valued at $6,807,820. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Maclennan purchased 500 shares of the stock in a transaction dated Friday, May 3rd. The stock was purchased at an average cost of $337.39 per share, for a total transaction of $168,695.00. Following the completion of 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 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.