Smith Anglin Financial LLC Buys 103 Shares of Caterpillar Inc. (NYSE:CAT)

Smith Anglin Financial LLC lifted its stake in shares of Caterpillar Inc. (NYSE:CAT) by 5.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,106 shares of the industrial products company’s stock after purchasing an additional 103 shares during the quarter. Smith Anglin Financial LLC’s holdings in Caterpillar were worth $694,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Pacific Point Advisors LLC acquired a new position in shares of Caterpillar in the 4th quarter worth approximately $579,000. Brighton Jones LLC raised its stake in Caterpillar by 51.5% during the fourth quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company’s stock worth $2,688,000 after buying an additional 2,519 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new position in Caterpillar in the fourth quarter valued at $7,396,000. Chicago Partners Investment Group LLC lifted its holdings in Caterpillar by 13.1% in the fourth quarter. Chicago Partners Investment Group LLC now owns 2,389 shares of the industrial products company’s stock valued at $863,000 after buying an additional 276 shares during the period. Finally, DAVENPORT & Co LLC lifted its holdings in Caterpillar by 5.7% in the fourth quarter. DAVENPORT & Co LLC now owns 45,055 shares of the industrial products company’s stock valued at $16,344,000 after buying an additional 2,430 shares during the period. 70.98% of the stock is owned by institutional investors.

Caterpillar Price Performance

Shares of NYSE CAT opened at $344.72 on Tuesday. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40. The firm’s 50-day moving average price is $319.30 and its 200-day moving average price is $350.36. The firm has a market capitalization of $162.38 billion, a P/E ratio of 15.62, a P/E/G ratio of 1.87 and a beta of 1.35. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $418.50.

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

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Monday, April 21st were given a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a dividend yield of 1.64%. The ex-dividend date was Monday, April 21st. Caterpillar’s payout ratio is presently 27.49%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CAT shares. Wedbush upgraded shares of Caterpillar to an “outperform” rating in a report on Monday, February 3rd. Evercore ISI dropped their target price on shares of Caterpillar from $375.00 to $373.00 and set an “in-line” rating on the stock in a report on Monday, May 19th. Bank of America boosted their target price on shares of Caterpillar from $335.00 to $385.00 and gave the company a “buy” rating in a report on Friday. DA Davidson boosted their target price on shares of Caterpillar from $325.00 to $331.00 and gave the company a “neutral” rating in a report on Monday, May 5th. Finally, Robert W. Baird upgraded shares of Caterpillar from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $309.00 to $395.00 in a report on Tuesday, May 13th. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $372.92.

Insider Transactions at Caterpillar

In other Caterpillar news, Director David Maclennan bought 375 shares of the firm’s stock in a transaction dated Wednesday, May 7th. The stock was bought at an average cost of $320.70 per share, with a total value of $120,262.50. Following the completion of the transaction, the director now directly owns 6,653 shares in the company, valued at approximately $2,133,617.10. The trade was a 5.97% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 0.33% of the stock is currently owned by insiders.

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.