Delta Capital Management LLC Boosts Stock Position in Caterpillar Inc. (NYSE:CAT)

Delta Capital Management LLC grew its position in shares of Caterpillar Inc. (NYSE:CAT) by 888.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,880 shares of the industrial products company’s stock after buying an additional 8,880 shares during the period. Caterpillar accounts for 1.3% of Delta Capital Management LLC’s investment portfolio, making the stock its 23rd largest position. Delta Capital Management LLC’s holdings in Caterpillar were worth $3,258,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Adell Harriman & Carpenter Inc. boosted its stake in shares of Caterpillar by 1.2% during the fourth quarter. Adell Harriman & Carpenter Inc. now owns 2,256 shares of the industrial products company’s stock worth $818,000 after buying an additional 27 shares during the period. Abacus Planning Group Inc. boosted its stake in shares of Caterpillar by 1.0% during the fourth quarter. Abacus Planning Group Inc. now owns 2,897 shares of the industrial products company’s stock worth $1,051,000 after buying an additional 28 shares during the period. Cape Investment Advisory Inc. raised its holdings in Caterpillar by 6.3% during the fourth quarter. Cape Investment Advisory Inc. now owns 471 shares of the industrial products company’s stock worth $171,000 after purchasing an additional 28 shares in the last quarter. Beacon Capital Management LLC raised its holdings in Caterpillar by 2.1% during the fourth quarter. Beacon Capital Management LLC now owns 1,432 shares of the industrial products company’s stock worth $520,000 after purchasing an additional 29 shares in the last quarter. Finally, Klingman & Associates LLC raised its holdings in Caterpillar by 4.5% during the fourth quarter. Klingman & Associates LLC now owns 703 shares of the industrial products company’s stock worth $255,000 after purchasing an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CAT. Bank of America increased their price target on shares of Caterpillar from $335.00 to $385.00 and gave the stock a “buy” rating in a report on Friday, May 30th. Truist Financial reaffirmed a “buy” rating and set a $396.00 price objective (up from $389.00) on shares of Caterpillar in a report on Thursday, May 1st. JPMorgan Chase & Co. lowered their price objective on shares of Caterpillar from $490.00 to $380.00 and set an “overweight” rating on the stock in a research note on Monday, April 14th. Oppenheimer upgraded shares of Caterpillar from a “market perform” rating to an “outperform” rating and set a $395.00 target price for the company in a research report on Thursday, May 1st. Finally, Wall Street Zen cut shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Six research 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 data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $372.92.

Insider Buying and Selling

In related news, Director David Maclennan bought 375 shares of the company’s stock in a transaction on Wednesday, May 7th. The shares were purchased at an average cost 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 approximately $2,133,617.10. This represents a 5.97% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.33% of the stock is owned by insiders.

Caterpillar Stock Performance

Shares of CAT opened at $360.85 on Friday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42. The company has a market capitalization of $169.98 billion, a PE ratio of 16.35, a PEG ratio of 1.87 and a beta of 1.37. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $418.50. The company’s 50 day moving average price is $325.40 and its 200 day moving average price is $348.98.

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 for the quarter, compared to the consensus estimate 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 company posted $5.60 earnings per share. Research analysts expect that Caterpillar Inc. will post 19.86 EPS for the current fiscal 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 paid a dividend of $1.51 per share. This is a positive change from Caterpillar’s previous quarterly dividend of $1.41. The ex-dividend date is Monday, July 21st. This represents a $6.04 annualized dividend and a yield of 1.67%. Caterpillar’s dividend payout ratio (DPR) is presently 27.49%.

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.