Parallel Advisors LLC Purchases 134 Shares of Caterpillar Inc. (NYSE:CAT)

Parallel Advisors LLC grew its position in Caterpillar Inc. (NYSE:CAT) by 1.3% in the first quarter, HoldingsChannel.com reports. The fund owned 10,230 shares of the industrial products company’s stock after buying an additional 134 shares during the quarter. Parallel Advisors LLC’s holdings in Caterpillar were worth $3,374,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. First County Bank CT boosted its stake in Caterpillar by 2.8% in the first quarter. First County Bank CT now owns 3,111 shares of the industrial products company’s stock worth $1,026,000 after purchasing an additional 86 shares in the last quarter. Silvia Mccoll Wealth Management LLC lifted its position in Caterpillar by 2.1% during the 1st quarter. Silvia Mccoll Wealth Management LLC now owns 1,752 shares of the industrial products company’s stock worth $578,000 after buying an additional 36 shares in the last quarter. GAMMA Investing LLC increased its position in 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 valued at $1,230,239,000 after acquiring an additional 3,721,693 shares in the last quarter. Webster Bank N. A. increased its position in Caterpillar by 1.8% in the 1st quarter. Webster Bank N. A. now owns 13,298 shares of the industrial products company’s stock valued at $4,386,000 after acquiring an additional 235 shares in the last quarter. Finally, Quent Capital LLC raised its stake in shares of Caterpillar by 5.2% in the first quarter. Quent Capital LLC now owns 1,550 shares of the industrial products company’s stock worth $511,000 after acquiring an additional 76 shares during the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Trading Down 1.3%

CAT opened at $347.10 on Friday. The firm’s fifty day moving average is $319.22 and its two-hundred day moving average is $351.14. The firm has a market cap of $163.50 billion, a PE ratio of 15.73, a price-to-earnings-growth ratio of 1.87 and a beta of 1.35. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $418.50. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42.

Caterpillar (NYSE:CAT) last posted its earnings results 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 business had revenue of $14.25 billion for the quarter, compared to the consensus estimate of $14.64 billion. During the same quarter in the prior year, the firm posted $5.60 earnings per share. The business’s revenue was down 9.8% on a year-over-year basis. Equities research analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Monday, April 21st were given a $1.41 dividend. The ex-dividend date was Monday, April 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.62%. Caterpillar’s dividend payout ratio is presently 27.49%.

Insider Activity at Caterpillar

In related news, Director David Maclennan purchased 375 shares of the business’s stock in a transaction on Wednesday, May 7th. The shares were purchased at an average price of $320.70 per share, with a total value of $120,262.50. Following the completion of the purchase, the director now owns 6,653 shares in the company, valued at $2,133,617.10. This represents a 5.97% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.33% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CAT has been the subject of a number of research reports. JPMorgan Chase & Co. lowered their price target on shares of Caterpillar from $490.00 to $380.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Bank of America increased their price objective on Caterpillar from $335.00 to $385.00 and gave the company a “buy” rating in a research report on Friday. Robert W. Baird upgraded Caterpillar from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $309.00 to $395.00 in a research report on Tuesday, May 13th. Baird R W upgraded Caterpillar from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 13th. Finally, DA Davidson lifted their price target on shares of Caterpillar from $325.00 to $331.00 and gave the stock a “neutral” rating in a research report on Monday, May 5th. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $372.92.

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.