Caterpillar Inc. (NYSE:CAT) Shares Acquired by Parcion Private Wealth LLC

Parcion Private Wealth LLC grew its stake in Caterpillar Inc. (NYSE:CAT) by 1.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,924 shares of the industrial products company’s stock after buying an additional 281 shares during the period. Parcion Private Wealth LLC’s holdings in Caterpillar were worth $6,571,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Pacific Point Advisors LLC acquired a new stake in Caterpillar during the 4th quarter worth $579,000. Brighton Jones LLC boosted its stake in Caterpillar by 51.5% during the 4th quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company’s stock worth $2,688,000 after purchasing an additional 2,519 shares during the period. Proficio Capital Partners LLC boosted its stake in Caterpillar by 38.3% during the 4th quarter. Proficio Capital Partners LLC now owns 2,218 shares of the industrial products company’s stock worth $805,000 after purchasing an additional 614 shares during the period. Parallel Advisors LLC boosted its stake in Caterpillar by 8.5% during the 4th quarter. Parallel Advisors LLC now owns 10,096 shares of the industrial products company’s stock worth $3,663,000 after purchasing an additional 791 shares during the period. Finally, TCTC Holdings LLC boosted its stake in Caterpillar by 96.0% during the 4th quarter. TCTC Holdings LLC now owns 196 shares of the industrial products company’s stock worth $71,000 after purchasing an additional 96 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Stock Performance

Shares of CAT opened at $404.89 on Wednesday. The company has a 50-day simple moving average of $364.12 and a 200-day simple moving average of $348.60. The company has a quick ratio of 0.77, a current ratio of 1.32 and a debt-to-equity ratio of 1.43. The company has a market capitalization of $190.72 billion, a PE ratio of 19.73, a P/E/G ratio of 2.69 and a beta of 1.38. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $418.50.

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 analysts’ consensus estimates of $4.35 by ($0.10). The company had revenue of $14.25 billion during the quarter, compared to analysts’ expectations of $14.64 billion. Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. The business’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.60 EPS. Equities research analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st will be issued a dividend of $1.51 per share. This is an increase from Caterpillar’s previous quarterly dividend of $1.41. This represents a $6.04 annualized dividend and a yield of 1.49%. The ex-dividend date is Monday, July 21st. Caterpillar’s dividend payout ratio (DPR) is 27.49%.

Insiders Place Their Bets

In other Caterpillar news, Director David Maclennan bought 375 shares of the company’s stock in a transaction on Wednesday, May 7th. The stock was purchased at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the acquisition, the director owned 6,653 shares of the company’s stock, valued at $2,133,617.10. The trade was a 5.97% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CAT shares. Truist Financial increased 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, June 23rd. Robert W. Baird increased their price target on shares of Caterpillar from $395.00 to $422.00 and gave the stock an “outperform” rating in a research note on Friday, June 20th. Baird R W upgraded shares of Caterpillar from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 13th. JPMorgan Chase & Co. raised their target price on shares of Caterpillar from $395.00 to $475.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. Finally, Evercore ISI reduced their target price 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. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Caterpillar presently has an average rating of “Moderate Buy” and a consensus price target of $406.47.

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.