Gateway Investment Advisers LLC Increases Stock Position in Caterpillar Inc. (NYSE:CAT)

Gateway Investment Advisers LLC increased its position in shares of Caterpillar Inc. (NYSE:CAT) by 0.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 157,081 shares of the industrial products company’s stock after buying an additional 386 shares during the period. Gateway Investment Advisers LLC’s holdings in Caterpillar were worth $51,805,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Flagship Wealth Advisors LLC purchased a new position in Caterpillar in the fourth quarter valued at about $26,000. Halbert Hargrove Global Advisors LLC acquired a new position in shares of Caterpillar in the 4th quarter valued at approximately $27,000. Cyrus J. Lawrence LLC purchased a new position in shares of Caterpillar during the 4th quarter valued at approximately $27,000. Noble Wealth Management PBC acquired a new stake in shares of Caterpillar during the fourth quarter worth approximately $31,000. Finally, Investment Management Corp VA ADV bought a new stake in shares of Caterpillar in the fourth quarter worth $33,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Stock Up 1.3%

Shares of Caterpillar stock opened at $353.49 on Friday. The stock has a market capitalization of $166.51 billion, a price-to-earnings ratio of 16.02, a PEG ratio of 1.87 and a beta of 1.37. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $418.50. 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 business’s 50 day simple moving average is $320.74 and its 200-day simple moving average is $349.91.

Caterpillar (NYSE:CAT) last issued 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). The company had revenue of $14.25 billion during 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%. Caterpillar’s quarterly revenue was down 9.8% on a year-over-year basis. During the same period in the prior year, the business earned $5.60 earnings per share. Equities research analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Dividend Announcement

The company 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 of this dividend was Monday, April 21st. This represents a $5.64 annualized dividend and a yield of 1.60%. Caterpillar’s dividend payout ratio is presently 27.49%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CAT shares. Truist Financial reiterated a “buy” rating and set a $396.00 price objective (up from $389.00) on shares of Caterpillar in a research note on Thursday, May 1st. Bank of America lifted their price target on Caterpillar from $335.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, May 30th. Wall Street Zen lowered Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Robert W. Baird raised Caterpillar from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $309.00 to $395.00 in a report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. decreased their target price on Caterpillar from $490.00 to $380.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $372.92.

Insiders Place Their Bets

In other Caterpillar news, Director David Maclennan bought 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 purchase, the director now directly owns 6,653 shares of the company’s stock, valued at approximately $2,133,617.10. The trade was a 5.97% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 0.33% of the stock is 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.