Caterpillar Inc. (NYSE:CAT) Shares Purchased by Stephens Consulting LLC

Stephens Consulting LLC boosted its position in Caterpillar Inc. (NYSE:CAT) by 38.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 625 shares of the industrial products company’s stock after purchasing an additional 175 shares during the quarter. Stephens Consulting LLC’s holdings in Caterpillar were worth $206,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Grove Bank & Trust raised its stake in Caterpillar by 28.9% in the 1st quarter. Grove Bank & Trust now owns 1,786 shares of the industrial products company’s stock valued at $589,000 after purchasing an additional 400 shares during the last quarter. Stockman Wealth Management Inc. grew its holdings in Caterpillar by 5.4% in the 1st quarter. Stockman Wealth Management Inc. now owns 39,407 shares of the industrial products company’s stock valued at $12,996,000 after buying an additional 2,031 shares in the last quarter. Sentry LLC grew its holdings in Caterpillar by 8.9% in the 1st quarter. Sentry LLC now owns 19,904 shares of the industrial products company’s stock valued at $6,564,000 after buying an additional 1,623 shares in the last quarter. Precision Wealth Strategies LLC grew its holdings in Caterpillar by 19.1% in the 1st quarter. Precision Wealth Strategies LLC now owns 1,256 shares of the industrial products company’s stock valued at $414,000 after buying an additional 201 shares in the last quarter. Finally, Sagespring Wealth Partners LLC grew its holdings in Caterpillar by 4.9% in the 1st quarter. Sagespring Wealth Partners LLC now owns 20,495 shares of the industrial products company’s stock valued at $6,759,000 after buying an additional 956 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Price Performance

CAT opened at $362.21 on Tuesday. The stock’s 50-day moving average price is $328.90 and its 200 day moving average price is $347.55. 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 has a market cap of $170.62 billion, a price-to-earnings ratio of 16.41, a PEG ratio of 1.87 and a beta of 1.37.

Caterpillar (NYSE:CAT) last posted 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 firm had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.64 billion. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. Caterpillar’s revenue was down 9.8% on a year-over-year basis. During the same period in the previous year, the company posted $5.60 EPS. As a group, sell-side analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st will be given a $1.51 dividend. The ex-dividend date is Monday, July 21st. This represents a $6.04 dividend on an annualized basis and a yield of 1.67%. This is a positive change from Caterpillar’s previous quarterly dividend of $1.41. Caterpillar’s dividend payout ratio (DPR) is currently 29.43%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Evercore ISI dropped their target price on Caterpillar from $375.00 to $373.00 and set an “in-line” rating for the company in a report on Monday, May 19th. Truist Financial reiterated a “buy” rating and set a $396.00 price target (up from $389.00) on shares of Caterpillar in a report on Thursday, May 1st. Citigroup increased their price target on Caterpillar from $320.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, May 5th. UBS Group upgraded Caterpillar from a “sell” rating to a “neutral” rating and increased their price target for the stock from $272.00 to $357.00 in a report on Friday, May 16th. Finally, Wall Street Zen cut Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $372.92.

Insider Buying and Selling at Caterpillar

In related news, Director David Maclennan purchased 375 shares of Caterpillar stock in a transaction on Wednesday, May 7th. The shares were bought at an average price of $320.70 per share, with a total value of $120,262.50. Following the transaction, the director now directly owns 6,653 shares of the company’s stock, valued at approximately $2,133,617.10. This trade 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 can be accessed through the SEC website. 0.33% of the stock is owned by corporate insiders.

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.