Stone Summit Wealth LLC Increases Position in Caterpillar Inc. (NYSE:CAT)

Stone Summit Wealth LLC increased its stake in shares of Caterpillar Inc. (NYSE:CAT) by 4.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,077 shares of the industrial products company’s stock after purchasing an additional 325 shares during the quarter. Stone Summit Wealth LLC’s holdings in Caterpillar were worth $2,334,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in CAT. Cape Investment Advisory Inc. grew its stake in shares of Caterpillar by 6.3% in the 4th quarter. Cape Investment Advisory Inc. now owns 471 shares of the industrial products company’s stock valued at $171,000 after purchasing an additional 28 shares during the last quarter. Carrera Capital Advisors grew its position in Caterpillar by 2.5% in the 4th quarter. Carrera Capital Advisors now owns 1,238 shares of the industrial products company’s stock valued at $449,000 after buying an additional 30 shares during the last quarter. BBR Partners LLC increased its stake in Caterpillar by 0.7% in the 4th quarter. BBR Partners LLC now owns 4,162 shares of the industrial products company’s stock valued at $1,510,000 after buying an additional 30 shares during the period. McIlrath & Eck LLC raised its position in Caterpillar by 3.2% during the 4th quarter. McIlrath & Eck LLC now owns 962 shares of the industrial products company’s stock worth $349,000 after buying an additional 30 shares during the last quarter. Finally, Rakuten Securities Inc. lifted its stake in shares of Caterpillar by 20.3% in the 4th quarter. Rakuten Securities Inc. now owns 184 shares of the industrial products company’s stock worth $67,000 after acquiring an additional 31 shares during the period. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Performance

NYSE:CAT opened at $381.70 on Friday. The company has a current ratio of 1.32, a quick ratio of 0.77 and a debt-to-equity ratio of 1.43. The company has a market capitalization of $179.80 billion, a P/E ratio of 18.60, a price-to-earnings-growth ratio of 2.47 and a beta of 1.37. The firm has a 50-day moving average price of $340.31 and a two-hundred day moving average price of $346.48. 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 data on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share for the quarter, missing analysts’ consensus estimates of $4.35 by ($0.10). The business had revenue of $14.25 billion for the quarter, compared to analysts’ expectations of $14.64 billion. Caterpillar had a return on equity of 53.77% and a net margin of 15.71%. The company’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same period last year, the business earned $5.60 earnings per share. As a group, research analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, July 21st will be paid a $1.51 dividend. This is an increase 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 1.58%. Caterpillar’s payout ratio is presently 27.49%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Truist Financial boosted their price target on shares of Caterpillar from $396.00 to $414.00 and gave the stock a “buy” rating in a research note on Monday. JPMorgan Chase & Co. cut their target price on Caterpillar from $490.00 to $380.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Citigroup reissued a “buy” rating and issued a $420.00 price target (up from $370.00) on shares of Caterpillar in a report on Tuesday. UBS Group upgraded Caterpillar from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $272.00 to $357.00 in a research report on Friday, May 16th. Finally, Evercore ISI decreased their target price on shares of Caterpillar from $375.00 to $373.00 and set an “in-line” rating on the stock in a research report on Monday, May 19th. Six equities research 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. Based on data from MarketBeat, Caterpillar presently has a consensus rating of “Moderate Buy” and an average target price of $380.83.

Insider Buying and Selling at Caterpillar

In other news, Director David Maclennan acquired 375 shares of the business’s stock in a transaction dated Wednesday, May 7th. The stock was acquired at an average price of $320.70 per share, with a total value of $120,262.50. Following the completion of the transaction, the director now directly owns 6,653 shares in the company, valued at approximately $2,133,617.10. This represents a 5.97% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.33% of the stock is owned by insiders.

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.