Carrera Capital Advisors Has $460,000 Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Carrera Capital Advisors grew its position in shares of Caterpillar Inc. (NYSE:CAT) by 12.6% during the first quarter, HoldingsChannel.com reports. The firm owned 1,394 shares of the industrial products company’s stock after purchasing an additional 156 shares during the period. Carrera Capital Advisors’ holdings in Caterpillar were worth $460,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CAT. Richards Merrill & Peterson Inc. lifted its stake in shares of Caterpillar by 2.4% in the first quarter. Richards Merrill & Peterson Inc. now owns 3,712 shares of the industrial products company’s stock worth $1,224,000 after acquiring an additional 86 shares during the period. Horan Capital Advisors LLC. lifted its stake in shares of Caterpillar by 8.7% in the first quarter. Horan Capital Advisors LLC. now owns 1,023 shares of the industrial products company’s stock worth $337,000 after acquiring an additional 82 shares during the period. Sterling Investment Advisors Ltd. lifted its stake in shares of Caterpillar by 5.5% in the first quarter. Sterling Investment Advisors Ltd. now owns 1,845 shares of the industrial products company’s stock worth $608,000 after acquiring an additional 96 shares during the period. LPL Financial LLC lifted its stake in shares of Caterpillar by 3.3% in the first quarter. LPL Financial LLC now owns 940,372 shares of the industrial products company’s stock worth $310,135,000 after acquiring an additional 30,450 shares during the period. Finally, Texas Yale Capital Corp. lifted its stake in shares of Caterpillar by 12.2% in the first quarter. Texas Yale Capital Corp. now owns 4,112 shares of the industrial products company’s stock worth $1,356,000 after acquiring an additional 448 shares during the period. 70.98% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Caterpillar

In related news, Director David Maclennan purchased 375 shares of the firm’s stock in a transaction that occurred on Wednesday, May 7th. The stock was acquired at an average price of $320.70 per share, for a total transaction of $120,262.50. Following the completion of the acquisition, the director owned 6,653 shares of the company’s stock, valued at $2,133,617.10. This represents a 5.97% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

CAT has been the topic of a number of recent analyst reports. Oppenheimer lifted their price objective on Caterpillar from $395.00 to $483.00 and gave the stock an “outperform” rating in a research note on Thursday, July 17th. DA Davidson lifted their price objective on Caterpillar from $331.00 to $388.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 22nd. Melius raised Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price objective on the stock in a research note on Wednesday, July 9th. JPMorgan Chase & Co. lifted their target price on Caterpillar from $395.00 to $475.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Finally, Sanford C. Bernstein reiterated a “market perform” rating on shares of Caterpillar in a report on Monday, July 14th. Seven research 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 stock. According to MarketBeat, Caterpillar has a consensus rating of “Moderate Buy” and an average target price of $419.33.

Caterpillar Stock Performance

NYSE CAT opened at $434.07 on Monday. The company has a fifty day simple moving average of $377.02 and a 200 day simple moving average of $351.76. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $434.87. 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 cap of $204.47 billion, a P/E ratio of 21.15, a PEG ratio of 2.71 and a beta of 1.38.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results 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). Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. The business had revenue of $14.25 billion during the quarter, compared to the consensus estimate of $14.64 billion. During the same period in the previous year, the business posted $5.60 EPS. Caterpillar’s revenue was down 9.8% compared to the same quarter last year. Sell-side analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, July 21st will be given a $1.51 dividend. This is a boost 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 1.39%. Caterpillar’s dividend payout ratio (DPR) is presently 29.43%.

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.