Curbstone Financial Management Corp Buys 230 Shares of Caterpillar Inc. (NYSE:CAT)

Curbstone Financial Management Corp increased its stake in shares of Caterpillar Inc. (NYSE:CAT) by 14.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,802 shares of the industrial products company’s stock after buying an additional 230 shares during the period. Curbstone Financial Management Corp’s holdings in Caterpillar were worth $594,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of CAT. Proficio Capital Partners LLC boosted its holdings in Caterpillar by 38.3% in the 4th quarter. Proficio Capital Partners LLC now owns 2,218 shares of the industrial products company’s stock valued at $805,000 after purchasing an additional 614 shares during the period. Victrix Investment Advisors bought a new stake in Caterpillar in the 4th quarter valued at about $2,090,000. Braun Stacey Associates Inc. boosted its holdings in Caterpillar by 2.8% in the 4th quarter. Braun Stacey Associates Inc. now owns 34,837 shares of the industrial products company’s stock valued at $12,637,000 after purchasing an additional 963 shares during the period. Strategic Advisors LLC boosted its holdings in Caterpillar by 14.6% in the 4th quarter. Strategic Advisors LLC now owns 5,724 shares of the industrial products company’s stock valued at $2,076,000 after purchasing an additional 730 shares during the period. Finally, MFG Wealth Management Inc. bought a new stake in Caterpillar in the 4th quarter valued at about $2,308,000. Institutional investors own 70.98% of the company’s stock.

Caterpillar Trading Up 1.3%

Shares of NYSE CAT opened at $363.09 on Thursday. 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 52-week low of $267.30 and a 52-week high of $418.50. The firm has a 50 day moving average price of $323.77 and a two-hundred day moving average price of $349.29. The stock has a market cap of $171.03 billion, a P/E ratio of 16.45, a price-to-earnings-growth ratio of 1.87 and a beta of 1.37.

Caterpillar (NYSE:CAT) last announced its quarterly 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). Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. The business had revenue of $14.25 billion during the quarter, compared to analyst estimates of $14.64 billion. During the same quarter last year, the company posted $5.60 earnings per share. The company’s revenue was down 9.8% compared to the same quarter last year. As a group, equities analysts forecast 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. Stockholders of record on Monday, July 21st will be paid a $1.51 dividend. This is a positive change from Caterpillar’s previous quarterly dividend of $1.41. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.66%. Caterpillar’s dividend payout ratio is currently 27.49%.

Insider Activity

In other news, Director David Maclennan acquired 375 shares of Caterpillar stock in a transaction dated Wednesday, May 7th. The shares were bought at an average cost of $320.70 per share, with a total value of $120,262.50. Following the purchase, the director now owns 6,653 shares in the company, valued at $2,133,617.10. This trade represents a 5.97% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CAT shares. UBS Group raised shares of Caterpillar from a “sell” rating to a “neutral” rating and upped their price target for the stock from $272.00 to $357.00 in a report on Friday, May 16th. Robert W. Baird raised shares of Caterpillar from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $309.00 to $395.00 in a report on Tuesday, May 13th. Truist Financial reaffirmed a “buy” rating and set a $396.00 price target (up previously from $389.00) on shares of Caterpillar in a report on Thursday, May 1st. JPMorgan Chase & Co. cut their price target on shares of Caterpillar from $490.00 to $380.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Finally, Citigroup upped their price target on shares of Caterpillar from $320.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, May 5th. Six analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $372.92.

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.