Caterpillar Inc. (CAT) Shares Sold by Busey Wealth Management

Busey Wealth Management trimmed its position in Caterpillar Inc. (NYSE:CAT) by 4.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 57,803 shares of the industrial products company’s stock after selling 2,853 shares during the quarter. Busey Wealth Management’s holdings in Caterpillar were worth $7,832,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of CAT. Oregon Public Employees Retirement Fund increased its holdings in shares of Caterpillar by 6,835.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,054,500 shares of the industrial products company’s stock valued at $71,000 after acquiring an additional 8,923,946 shares during the last quarter. Norges Bank bought a new stake in shares of Caterpillar in the 4th quarter valued at approximately $733,859,000. Sanders Capital LLC bought a new stake in shares of Caterpillar in the 4th quarter valued at approximately $422,262,000. Harris Associates L P increased its holdings in shares of Caterpillar by 38.8% in the 4th quarter. Harris Associates L P now owns 3,529,388 shares of the industrial products company’s stock valued at $448,479,000 after acquiring an additional 987,103 shares during the last quarter. Finally, LSV Asset Management increased its holdings in shares of Caterpillar by 3,805.2% in the 4th quarter. LSV Asset Management now owns 620,926 shares of the industrial products company’s stock valued at $78,901,000 after acquiring an additional 605,026 shares during the last quarter. Institutional investors and hedge funds own 67.07% of the company’s stock.

Shares of CAT opened at $143.36 on Friday. The firm has a market cap of $82.51 billion, a P/E ratio of 12.78, a P/E/G ratio of 0.74 and a beta of 1.46. The company has a quick ratio of 0.96, a current ratio of 1.37 and a debt-to-equity ratio of 1.78. Caterpillar Inc. has a 12 month low of $112.06 and a 12 month high of $161.60.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Monday, January 28th. The industrial products company reported $2.55 EPS for the quarter, missing the Zacks’ consensus estimate of $2.98 by ($0.43). Caterpillar had a return on equity of 45.31% and a net margin of 11.23%. The company had revenue of $14.34 billion for the quarter, compared to the consensus estimate of $14.36 billion. During the same quarter in the previous year, the company earned $2.16 earnings per share. Caterpillar’s quarterly revenue was up 11.2% compared to the same quarter last year. On average, equities analysts forecast that Caterpillar Inc. will post 12.19 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, April 22nd will be given a dividend of $0.86 per share. The ex-dividend date is Thursday, April 18th. This represents a $3.44 dividend on an annualized basis and a yield of 2.40%. Caterpillar’s dividend payout ratio (DPR) is presently 30.66%.

A number of equities research analysts have recently weighed in on CAT shares. Zacks Investment Research downgraded Caterpillar from a “hold” rating to a “sell” rating in a report on Monday, December 31st. Bank of America set a $152.00 price target on Caterpillar and gave the company a “buy” rating in a report on Tuesday, January 29th. Standpoint Research upgraded Caterpillar from a “sell” rating to an “accumulate” rating and set a $117.85 price target for the company in a report on Wednesday, December 26th. UBS Group downgraded Caterpillar from a “buy” rating to a “sell” rating and lowered their price target for the company from $154.00 to $125.00 in a report on Tuesday, February 26th. Finally, Credit Suisse Group lowered their price target on Caterpillar from $183.00 to $173.00 and set an “outperform” rating for the company in a report on Friday, January 18th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $146.71.

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Caterpillar Profile

Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, and industrial gas turbines. Its Construction Industries segment offers asphalt pavers, compactors, cold planers, feller bunchers, harvesters, motorgraders, pipelayers, road reclaimers, skidders, telehandlers, and utility vehicles; backhoe, knuckleboom, compact track, multi-terrain, skid steer, and track-type loaders; forestry and wheel excavators; and site prep and track-type tractors.

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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