OneAscent Wealth Management LLC Has $552,000 Stock Holdings in Caterpillar Inc. (NYSE:CAT)

OneAscent Wealth Management LLC reduced its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 5.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,673 shares of the industrial products company’s stock after selling 97 shares during the quarter. OneAscent Wealth Management LLC’s holdings in Caterpillar were worth $552,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. McIlrath & Eck LLC boosted its holdings in Caterpillar by 3.2% during the fourth quarter. McIlrath & Eck LLC now owns 962 shares of the industrial products company’s stock worth $349,000 after purchasing an additional 30 shares during the last quarter. Asset Management Group Inc. grew its holdings in shares of Caterpillar by 0.3% during the 4th quarter. Asset Management Group Inc. now owns 10,771 shares of the industrial products company’s stock valued at $3,907,000 after purchasing an additional 32 shares during the last quarter. Summit X LLC grew its holdings in shares of Caterpillar by 3.2% during the 1st quarter. Summit X LLC now owns 1,025 shares of the industrial products company’s stock valued at $338,000 after purchasing an additional 32 shares during the last quarter. Dunhill Financial LLC boosted its stake in shares of Caterpillar by 21.3% in the 4th quarter. Dunhill Financial LLC now owns 205 shares of the industrial products company’s stock valued at $75,000 after purchasing an additional 36 shares during the last quarter. Finally, Silvia Mccoll Wealth Management LLC boosted its stake in shares of Caterpillar by 2.1% in the 1st quarter. Silvia Mccoll Wealth Management LLC now owns 1,752 shares of the industrial products company’s stock valued at $578,000 after purchasing an additional 36 shares during the last quarter. 70.98% of the stock is owned by institutional investors.

Insider Activity at Caterpillar

In related news, Director David Maclennan acquired 375 shares of the business’s stock in a transaction dated Wednesday, May 7th. The stock was bought at an average price of $320.70 per share, with a total value of $120,262.50. Following the acquisition, the director owned 6,653 shares in the company, valued at $2,133,617.10. This represents a 5.97% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.33% of the stock is currently owned by company insiders.

Caterpillar Stock Performance

Shares of CAT opened at $416.24 on Monday. The firm’s 50 day moving average is $369.61 and its 200-day moving average is $349.62. The stock has a market capitalization of $196.06 billion, a P/E ratio of 20.17, a P/E/G ratio of 2.74 and a beta of 1.38. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.32 and a quick ratio of 0.77. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $419.90.

Caterpillar (NYSE:CAT) last released 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 net margin of 15.71% and a return on equity of 53.77%. The firm had revenue of $14.25 billion during the quarter, compared to the consensus estimate of $14.64 billion. During the same period in the prior year, the business earned $5.60 EPS. The company’s revenue for the quarter was down 9.8% compared to the same quarter last year. Equities research analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal 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 1.45%. Caterpillar’s dividend payout ratio is 27.49%.

Analyst Ratings Changes

CAT has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their price objective on shares of Caterpillar from $395.00 to $475.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. Sanford C. Bernstein reissued a “market perform” rating on shares of Caterpillar in a research note on Monday, July 14th. Evercore ISI decreased their price objective on Caterpillar from $375.00 to $373.00 and set an “in-line” rating on the stock in a report on Monday, May 19th. Oppenheimer upped their price objective on Caterpillar from $395.00 to $483.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Robert W. Baird raised their target price on Caterpillar from $395.00 to $422.00 and gave the stock an “outperform” rating in a report on Friday, June 20th. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Caterpillar has an average rating of “Moderate Buy” and an average price target of $412.33.

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.