Monument Capital Management Has $5.55 Million Position in Caterpillar Inc. (NYSE:CAT)

Monument Capital Management trimmed its stake in Caterpillar Inc. (NYSE:CAT) by 3.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,135 shares of the industrial products company’s stock after selling 539 shares during the quarter. Caterpillar makes up about 1.6% of Monument Capital Management’s portfolio, making the stock its 9th biggest holding. Monument Capital Management’s holdings in Caterpillar were worth $5,546,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Partnership Wealth Management LLC bought a new position in shares of Caterpillar during the 4th quarter worth approximately $26,000. Richardson Financial Services Inc. acquired a new stake in Caterpillar during the 4th quarter worth approximately $27,000. Thompson Investment Management Inc. acquired a new stake in Caterpillar during the 1st quarter worth approximately $27,000. Gilfoyle & Co LLC acquired a new stake in Caterpillar during the 4th quarter worth approximately $30,000. Finally, Vima LLC acquired a new stake in Caterpillar during the 4th quarter worth approximately $30,000. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Price Performance

CAT stock traded up $2.42 during midday trading on Wednesday, reaching $330.18. 537,465 shares of the stock were exchanged, compared to its average volume of 2,700,180. The stock has a market capitalization of $161.47 billion, a PE ratio of 14.90, a P/E/G ratio of 1.71 and a beta of 1.12. Caterpillar Inc. has a 52 week low of $223.76 and a 52 week high of $382.01. 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 fifty day moving average price of $339.03 and a 200 day moving average price of $330.08.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Thursday, April 25th. The industrial products company reported $5.60 earnings per share for the quarter, topping analysts’ consensus estimates of $5.12 by $0.48. The business had revenue of $15.80 billion for the quarter, compared to analyst estimates of $16.07 billion. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. As a group, analysts expect that Caterpillar Inc. will post 21.8 EPS for the current fiscal year.

Caterpillar declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, June 12th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the industrial products company to purchase up to 12.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Caterpillar Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Monday, July 22nd will be given a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date is Monday, July 22nd. This is a positive change from Caterpillar’s previous quarterly dividend of $1.30. Caterpillar’s payout ratio is 23.48%.

Insider Buying and Selling at Caterpillar

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. In other news, insider Lange Bob De sold 21,847 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 71,115 shares of the company’s stock, valued at $25,380,943.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Cheryl H. Johnson sold 1,508 shares of the 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 completion of the sale, the insider now directly owns 20,023 shares of the company’s stock, valued at $6,807,820. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on CAT shares. HSBC lifted 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. Oppenheimer reaffirmed a “market perform” rating on shares of Caterpillar in a report on Thursday, April 18th. Citigroup started coverage on Caterpillar in a report on Wednesday, June 26th. They issued a “buy” rating and a $380.00 price objective for the company. Stifel Nicolaus cut Caterpillar from a “buy” rating to a “hold” rating and lifted their price objective for the company from $293.00 to $350.00 in a report on Friday, April 26th. Finally, TD Cowen lifted their price objective on Caterpillar from $338.00 to $340.00 and gave the company a “buy” rating in a report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $329.63.

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.