Inspirion Wealth Advisors LLC Increases Stock Position in Caterpillar Inc. (NYSE:CAT)

Inspirion Wealth Advisors LLC lifted its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 50.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 952 shares of the industrial products company’s stock after buying an additional 321 shares during the period. Inspirion Wealth Advisors LLC’s holdings in Caterpillar were worth $314,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Flagship Wealth Advisors LLC purchased a new stake in shares of Caterpillar during the 4th quarter worth $26,000. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Caterpillar in the fourth quarter valued at about $27,000. Cyrus J. Lawrence LLC purchased a new stake in Caterpillar during the fourth quarter worth about $27,000. Noble Wealth Management PBC acquired a new position in Caterpillar during the fourth quarter worth about $31,000. Finally, Investment Management Corp VA ADV purchased a new position in Caterpillar in the fourth quarter valued at about $33,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director David Maclennan acquired 375 shares of the company’s stock in a transaction dated Wednesday, May 7th. The stock was bought at an average price of $320.70 per share, with a total value of $120,262.50. Following the purchase, the director now directly owns 6,653 shares in the company, valued at $2,133,617.10. The trade was a 5.97% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.33% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on CAT shares. Truist Financial reissued a “buy” rating and set a $396.00 price target (up previously from $389.00) on shares of Caterpillar in a research note on Thursday, May 1st. JPMorgan Chase & Co. decreased their target price on Caterpillar from $490.00 to $380.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Raymond James upgraded Caterpillar from a “market perform” rating to an “outperform” rating in a research report on Monday, February 3rd. Morgan Stanley upgraded shares of Caterpillar from an “underweight” rating to an “equal weight” rating and decreased their price objective for the stock from $300.00 to $283.00 in a research report on Wednesday, April 16th. Finally, Oppenheimer upgraded shares of Caterpillar from a “market perform” rating to an “outperform” rating and set a $395.00 target price for the company in a report on Thursday, May 1st. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Caterpillar has a consensus rating of “Moderate Buy” and a consensus price target of $372.92.

Caterpillar Price Performance

Caterpillar stock opened at $347.10 on Monday. The stock has a market capitalization of $163.50 billion, a P/E ratio of 15.73, a P/E/G ratio of 1.87 and a beta of 1.35. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $418.50. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. The firm’s 50-day moving average is $319.22 and its two-hundred day moving average is $350.64.

Caterpillar (NYSE:CAT) last announced its earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.35 by ($0.10). The firm had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.64 billion. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. The firm’s revenue was down 9.8% compared to the same quarter last year. During the same quarter last year, the business posted $5.60 EPS. Equities analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Announces Dividend

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

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.