Gallacher Capital Management LLC Has $450,000 Stock Position in Caterpillar Inc. (NYSE:CAT)

Gallacher Capital Management LLC increased its position in Caterpillar Inc. (NYSE:CAT) by 35.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,364 shares of the industrial products company’s stock after purchasing an additional 355 shares during the quarter. Gallacher Capital Management LLC’s holdings in Caterpillar were worth $450,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CAT. Norges Bank acquired a new stake in Caterpillar during the fourth quarter worth $2,184,364,000. GAMMA Investing LLC boosted its stake in Caterpillar by 43,447.3% during the first quarter. GAMMA Investing LLC now owns 3,730,259 shares of the industrial products company’s stock worth $1,230,239,000 after buying an additional 3,721,693 shares in the last quarter. Capital Research Global Investors boosted its stake in Caterpillar by 69.3% during the fourth quarter. Capital Research Global Investors now owns 2,924,054 shares of the industrial products company’s stock worth $1,060,730,000 after buying an additional 1,196,861 shares in the last quarter. Northern Trust Corp boosted its stake in Caterpillar by 11.8% during the fourth quarter. Northern Trust Corp now owns 6,847,330 shares of the industrial products company’s stock worth $2,483,937,000 after buying an additional 724,477 shares in the last quarter. Finally, APG Asset Management N.V. lifted its holdings in shares of Caterpillar by 1,278.6% during the fourth quarter. APG Asset Management N.V. now owns 440,641 shares of the industrial products company’s stock valued at $154,367,000 after acquiring an additional 408,678 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Stock Performance

Shares of NYSE:CAT opened at $413.88 on Monday. The stock has a market capitalization of $194.95 billion, a P/E ratio of 20.17, a P/E/G ratio of 2.74 and a beta of 1.38. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $419.90. 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 business has a 50-day moving average price of $369.61 and a two-hundred day moving average price of $349.62.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share 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 53.77% and a net margin of 15.71%. The business’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.60 earnings per share. Equities analysts predict 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. Stockholders of record on Monday, July 21st will be paid a $1.51 dividend. The ex-dividend date of this dividend is Monday, July 21st. This is a boost from Caterpillar’s previous quarterly dividend of $1.41. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.46%. Caterpillar’s dividend payout ratio is 27.49%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CAT. Truist Financial lifted their price objective on Caterpillar from $396.00 to $414.00 and gave the company a “buy” rating in a report on Monday, June 23rd. Sanford C. Bernstein reissued a “market perform” rating on shares of Caterpillar in a report on Monday, July 14th. Baird R W raised Caterpillar from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 13th. UBS Group raised Caterpillar from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $272.00 to $357.00 in a report on Friday, May 16th. Finally, DA Davidson lifted their price target on Caterpillar from $325.00 to $331.00 and gave the company a “neutral” rating in a report on Monday, May 5th. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $412.33.

Insider Activity at Caterpillar

In related news, Director David Maclennan purchased 375 shares of the stock in a transaction dated Wednesday, May 7th. The stock was bought at an average cost of $320.70 per share, with a total value of $120,262.50. Following the purchase, the director directly owned 6,653 shares in the company, valued at $2,133,617.10. The trade was a 5.97% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 0.33% of the stock is currently owned by company 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.