Jackson Square Capital LLC Trims Stake in Caterpillar Inc. (NYSE:CAT)

Jackson Square Capital LLC lowered its stake in Caterpillar Inc. (NYSE:CAT) by 32.7% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,361 shares of the industrial products company’s stock after selling 5,528 shares during the quarter. Caterpillar makes up about 1.2% of Jackson Square Capital LLC’s holdings, making the stock its 23rd biggest position. Jackson Square Capital LLC’s holdings in Caterpillar were worth $3,747,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Caterpillar in the 4th quarter worth $2,184,364,000. GAMMA Investing LLC raised its position in shares of Caterpillar by 43,447.3% in the 1st quarter. GAMMA Investing LLC now owns 3,730,259 shares of the industrial products company’s stock worth $1,230,239,000 after buying an additional 3,721,693 shares during the period. Capital Research Global Investors raised its position in shares of Caterpillar by 69.3% in the 4th quarter. Capital Research Global Investors now owns 2,924,054 shares of the industrial products company’s stock worth $1,060,730,000 after buying an additional 1,196,861 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Caterpillar in the 4th quarter worth $353,231,000. Finally, Proficio Capital Partners LLC raised its position in shares of Caterpillar by 50,072.7% in the 4th quarter. Proficio Capital Partners LLC now owns 804,770 shares of the industrial products company’s stock worth $291,938,000 after buying an additional 803,166 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Trading Down 1.2%

Caterpillar stock opened at $356.79 on Friday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42. The firm has a market cap of $168.06 billion, a price-to-earnings ratio of 16.17, a price-to-earnings-growth ratio of 1.87 and a beta of 1.37. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $418.50. The firm’s 50 day moving average price is $327.10 and its two-hundred day moving average price is $348.63.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share for the quarter, missing the consensus estimate of $4.35 by ($0.10). Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. The firm had revenue of $14.25 billion for the quarter, compared to analysts’ expectations of $14.64 billion. During the same quarter in the previous year, the firm posted $5.60 earnings per share. The company’s revenue for the quarter was down 9.8% on a year-over-year basis. On average, research analysts predict that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st will be paid a dividend of $1.51 per share. The ex-dividend date of this dividend is Monday, July 21st. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.69%. This is a positive change from Caterpillar’s previous quarterly dividend of $1.41. Caterpillar’s dividend payout ratio (DPR) is 27.49%.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Director David Maclennan acquired 375 shares of Caterpillar stock in a transaction that occurred on Wednesday, May 7th. The stock was acquired at an average price of $320.70 per share, with a total value of $120,262.50. Following the purchase, the director now owns 6,653 shares in the company, valued at approximately $2,133,617.10. This trade represents a 5.97% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Bank of America increased their price target on Caterpillar from $335.00 to $385.00 and gave the company a “buy” rating in a report on Friday, May 30th. Wall Street Zen downgraded Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. DA Davidson increased their price target on Caterpillar from $325.00 to $331.00 and gave the company a “neutral” rating in a report on Monday, May 5th. UBS Group upgraded Caterpillar from a “sell” rating to a “neutral” rating and increased their price target for the company from $272.00 to $357.00 in a report on Friday, May 16th. Finally, Evercore ISI lowered their price target on Caterpillar from $375.00 to $373.00 and set an “in-line” rating for the company in a report on Monday, May 19th. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $372.92.

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.