Signet Financial Management LLC Buys 111 Shares of Caterpillar Inc. (NYSE:CAT)

Signet Financial Management LLC grew its stake in Caterpillar Inc. (NYSE:CAT) by 0.5% during the 1st quarter, HoldingsChannel reports. The fund owned 24,059 shares of the industrial products company’s stock after purchasing an additional 111 shares during the quarter. Caterpillar comprises 1.1% of Signet Financial Management LLC’s holdings, making the stock its 21st biggest position. Signet Financial Management LLC’s holdings in Caterpillar were worth $7,935,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in CAT. Norges Bank bought a new stake in Caterpillar in the fourth quarter worth $2,184,364,000. GAMMA Investing LLC raised its stake in shares of Caterpillar by 43,447.3% in the first quarter. GAMMA Investing LLC now owns 3,730,259 shares of the industrial products company’s stock worth $1,230,239,000 after purchasing an additional 3,721,693 shares during the last quarter. Capital Research Global Investors raised its stake in shares of Caterpillar by 69.3% in the fourth quarter. Capital Research Global Investors now owns 2,924,054 shares of the industrial products company’s stock worth $1,060,730,000 after purchasing an additional 1,196,861 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Caterpillar in the fourth quarter worth $353,231,000. Finally, Proficio Capital Partners LLC raised its stake in shares of Caterpillar by 50,072.7% in the fourth quarter. Proficio Capital Partners LLC now owns 804,770 shares of the industrial products company’s stock worth $291,938,000 after purchasing an additional 803,166 shares during the last quarter. 70.98% of the stock is owned by institutional investors.

Caterpillar Stock Up 1.3%

Caterpillar stock opened at $358.12 on Tuesday. The stock has a market cap of $168.69 billion, a PE ratio of 16.23, a price-to-earnings-growth ratio of 1.87 and a beta of 1.37. 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 Inc. has a one year low of $267.30 and a one year high of $418.50. The stock has a fifty day moving average of $321.20 and a 200 day moving average of $349.13.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 EPS for the quarter, missing analysts’ consensus estimates 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 business’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.60 EPS. As a group, sell-side analysts predict that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CAT shares. Wall Street Zen cut Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Truist Financial restated a “buy” rating and issued a $396.00 price target (up previously from $389.00) on shares of Caterpillar in a research note on Thursday, May 1st. Morgan Stanley upgraded Caterpillar from an “underweight” rating to an “equal weight” rating and decreased their price target for the stock from $300.00 to $283.00 in a research note on Wednesday, April 16th. Baird R W upgraded Caterpillar from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 13th. Finally, Evercore ISI reduced their price objective on Caterpillar from $375.00 to $373.00 and set an “in-line” rating for the company in a research report on Monday, May 19th. Six investment 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 MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $372.92.

Insiders Place Their Bets

In related news, Director David Maclennan purchased 375 shares of Caterpillar stock in a transaction on Wednesday, May 7th. The stock was acquired at an average price of $320.70 per share, for a total transaction of $120,262.50. Following the completion of the transaction, the director now directly owns 6,653 shares in the company, valued at $2,133,617.10. This represents a 5.97% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.33% of the company’s stock.

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.