Octavia Wealth Advisors LLC Boosts Stock Position in Caterpillar Inc. (NYSE:CAT)

Octavia Wealth Advisors LLC lifted its position in shares of Caterpillar Inc. (NYSE:CAT) by 21.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 774 shares of the industrial products company’s stock after purchasing an additional 136 shares during the period. Octavia Wealth Advisors LLC’s holdings in Caterpillar were worth $255,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CAT. Pacific Point Advisors LLC purchased a new stake in shares of Caterpillar during the fourth quarter worth about $579,000. Brighton Jones LLC raised its stake in Caterpillar by 51.5% in 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 in the last quarter. Union Bancaire Privee UBP SA bought a new position in Caterpillar in the fourth quarter worth about $7,396,000. Moloney Securities Asset Management LLC raised its stake in Caterpillar by 89.6% in the fourth quarter. Moloney Securities Asset Management LLC now owns 1,365 shares of the industrial products company’s stock worth $495,000 after buying an additional 645 shares in the last quarter. Finally, Stiles Financial Services Inc raised its stake in Caterpillar by 5.3% in the fourth quarter. Stiles Financial Services Inc now owns 2,880 shares of the industrial products company’s stock worth $1,045,000 after buying an additional 144 shares in the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Trading Up 1.3%

Shares of CAT stock opened at $358.12 on Tuesday. Caterpillar Inc. has a 12-month low of $267.30 and a 12-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 firm’s 50 day moving average is $321.20 and its 200 day moving average is $349.13. The stock has a market capitalization of $168.69 billion, a P/E ratio of 16.23, a P/E/G ratio of 1.87 and a beta of 1.37.

Caterpillar (NYSE:CAT) last issued its earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) 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 analysts’ expectations of $14.64 billion. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. The company’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.60 EPS. Research analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Monday, April 21st were paid a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a dividend yield of 1.57%. The ex-dividend date was Monday, April 21st. Caterpillar’s dividend payout ratio is presently 27.49%.

Insider Transactions at Caterpillar

In other news, Director David Maclennan bought 375 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were bought at an average price of $320.70 per share, for a total transaction of $120,262.50. Following 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Truist Financial reissued a “buy” rating and issued a $396.00 price target (up from $389.00) on shares of Caterpillar in a research note on Thursday, May 1st. Robert W. Baird raised shares of Caterpillar from a “neutral” rating to an “outperform” rating and raised their target price for the company from $309.00 to $395.00 in a research note on Tuesday, May 13th. DA Davidson raised their target price on shares of Caterpillar from $325.00 to $331.00 and gave the company a “neutral” rating in a research note on Monday, May 5th. Citigroup raised their target price on shares of Caterpillar from $320.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, May 5th. Finally, UBS Group raised shares of Caterpillar from a “sell” rating to a “neutral” rating and raised their target price for the company from $272.00 to $357.00 in a research note on Friday, May 16th. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $372.92.

About Caterpillar

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.