Retirement Guys Formula LLC Buys 561 Shares of Caterpillar Inc. (NYSE:CAT)

Retirement Guys Formula LLC increased its stake in Caterpillar Inc. (NYSE:CAT) by 13.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,669 shares of the industrial products company’s stock after purchasing an additional 561 shares during the quarter. Retirement Guys Formula LLC’s holdings in Caterpillar were worth $1,540,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of CAT. Flagship Wealth Advisors LLC bought a new position in Caterpillar during the fourth quarter worth about $26,000. Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Caterpillar during the 4th quarter valued at approximately $27,000. Cyrus J. Lawrence LLC purchased a new position in Caterpillar in the 4th quarter valued at approximately $27,000. Noble Wealth Management PBC purchased a new position in Caterpillar in the 4th quarter valued at approximately $31,000. Finally, Investment Management Corp VA ADV bought a new stake in Caterpillar during the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Price Performance

Shares of CAT opened at $366.65 on Tuesday. The company has a 50 day moving average of $335.33 and a two-hundred day moving average of $346.24. The company has a market cap of $172.71 billion, a price-to-earnings ratio of 17.87, a price-to-earnings-growth ratio of 2.40 and a beta of 1.37. The company has a quick ratio of 0.77, a current ratio of 1.32 and a debt-to-equity ratio of 1.43. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $418.50.

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). Caterpillar had a return on equity of 53.77% and a net margin of 15.71%. The firm had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.64 billion. During the same period in the prior year, the firm posted $5.60 EPS. The business’s revenue was down 9.8% compared to the same quarter last year. As a group, analysts predict that Caterpillar Inc. will post 19.86 earnings per share 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 given a dividend of $1.51 per share. This is a boost from Caterpillar’s previous quarterly dividend of $1.41. This represents a $6.04 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend is Monday, July 21st. Caterpillar’s dividend payout ratio (DPR) is presently 27.49%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CAT shares. Truist Financial increased their price objective on Caterpillar from $396.00 to $414.00 and gave the stock a “buy” rating in a report on Monday. Baird R W raised shares of Caterpillar from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 13th. Evercore ISI reduced their price objective on shares of Caterpillar from $375.00 to $373.00 and set an “in-line” rating for the company in a research note on Monday, May 19th. Morgan Stanley upgraded shares of Caterpillar from an “underweight” rating to an “equal weight” rating and lowered their target price for the stock from $300.00 to $283.00 in a research note on Wednesday, April 16th. Finally, Wall Street Zen lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research 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 issued a strong buy rating to the company’s stock. According to MarketBeat, Caterpillar currently has an average rating of “Moderate Buy” and a consensus target price of $376.67.

Insiders Place Their Bets

In related news, Director David Maclennan acquired 375 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was purchased at an average price of $320.70 per share, with a total value of $120,262.50. Following the transaction, the director now 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 position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 0.33% of the stock is owned by insiders.

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.