Alpha Omega Wealth Management LLC Makes New $205,000 Investment in Caterpillar Inc. (NYSE:CAT)

Alpha Omega Wealth Management LLC acquired a new position in Caterpillar Inc. (NYSE:CAT) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 621 shares of the industrial products company’s stock, valued at approximately $205,000.

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

Caterpillar Price Performance

NYSE:CAT opened at $363.09 on Thursday. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $418.50. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $171.03 billion, a P/E ratio of 16.45, a P/E/G ratio of 1.87 and a beta of 1.37. The stock’s fifty day moving average is $323.77 and its two-hundred day moving average is $349.29.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data 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 firm had revenue of $14.25 billion during the quarter, compared to analysts’ expectations of $14.64 billion. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. Caterpillar’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.60 EPS. Equities analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, July 21st will be issued a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 1.66%. This is an increase from Caterpillar’s previous quarterly dividend of $1.41. Caterpillar’s payout ratio is currently 27.49%.

Insider Activity at Caterpillar

In other news, Director David Maclennan acquired 375 shares of the business’s stock in a transaction that occurred on Wednesday, May 7th. The shares were purchased at an average price of $320.70 per share, for a total transaction of $120,262.50. Following the acquisition, the director now owns 6,653 shares of the company’s stock, valued at $2,133,617.10. This represents a 5.97% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CAT. DA Davidson lifted their price target on Caterpillar from $325.00 to $331.00 and gave the company a “neutral” rating in a research report on Monday, May 5th. JPMorgan Chase & Co. lowered their price target on Caterpillar from $490.00 to $380.00 and set an “overweight” rating on the stock in a research note on Monday, April 14th. Truist Financial reaffirmed 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. Oppenheimer raised Caterpillar from a “market perform” rating to an “outperform” rating and set a $395.00 price objective on the stock in a research note on Thursday, May 1st. Finally, Wall Street Zen lowered Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Six 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $372.92.

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.