Solidarity Wealth LLC Takes $2 Million Position in Caterpillar Inc. (NYSE:CAT)

Solidarity Wealth LLC bought a new stake in Caterpillar Inc. (NYSE:CAT) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 6,074 shares of the industrial products company’s stock, valued at approximately $2,003,000.

Several other large investors have also recently added to or reduced their stakes in CAT. McIlrath & Eck LLC lifted its position in shares of Caterpillar by 3.2% in the fourth quarter. McIlrath & Eck LLC now owns 962 shares of the industrial products company’s stock valued at $349,000 after acquiring an additional 30 shares in the last quarter. Asset Management Group Inc. boosted its position in Caterpillar by 0.3% during the fourth quarter. Asset Management Group Inc. now owns 10,771 shares of the industrial products company’s stock worth $3,907,000 after acquiring an additional 32 shares during the last quarter. Summit X LLC boosted its position in Caterpillar by 3.2% during the first quarter. Summit X LLC now owns 1,025 shares of the industrial products company’s stock worth $338,000 after acquiring an additional 32 shares during the last quarter. Dunhill Financial LLC boosted its position in Caterpillar by 21.3% during the fourth quarter. Dunhill Financial LLC now owns 205 shares of the industrial products company’s stock worth $75,000 after acquiring an additional 36 shares during the last quarter. Finally, Silvia Mccoll Wealth Management LLC boosted its position in Caterpillar by 2.1% during the first quarter. Silvia Mccoll Wealth Management LLC now owns 1,752 shares of the industrial products company’s stock worth $578,000 after acquiring an additional 36 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director David Maclennan purchased 375 shares of Caterpillar stock in a transaction on Wednesday, May 7th. The stock was purchased at an average cost of $320.70 per share, with a total value of $120,262.50. Following the acquisition, the director directly owned 6,653 shares in the company, valued at approximately $2,133,617.10. This trade represents a 5.97% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.33% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CAT shares. Barclays increased their price target on shares of Caterpillar from $335.00 to $383.00 and gave the stock an “equal weight” rating in a research note on Monday, July 21st. Robert W. Baird raised their target price on shares of Caterpillar from $395.00 to $422.00 and gave the company an “outperform” rating in a research note on Friday, June 20th. Citigroup reissued a “buy” rating and issued a $420.00 target price (up previously from $370.00) on shares of Caterpillar in a research note on Tuesday, June 24th. Oppenheimer lifted their price target on shares of Caterpillar from $395.00 to $483.00 and gave the stock an “outperform” rating in a research note on Thursday, July 17th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Caterpillar in a research note 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 company. According to MarketBeat.com, Caterpillar currently has a consensus rating of “Moderate Buy” and an average price target of $419.33.

Caterpillar Stock Up 1.1%

Caterpillar stock opened at $434.07 on Monday. The firm’s 50 day moving average price is $377.02 and its two-hundred day moving average price is $351.76. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $434.87. The firm has a market cap of $204.47 billion, a PE ratio of 21.15, a P/E/G ratio of 2.71 and a beta of 1.38. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.77 and a current ratio of 1.32.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) 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%. Caterpillar’s quarterly revenue was down 9.8% on a year-over-year basis. During the same period in the prior year, the company posted $5.60 earnings per share. On average, research analysts predict 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. Shareholders of record on Monday, July 21st will be issued a $1.51 dividend. The ex-dividend date is Monday, July 21st. This is an increase from Caterpillar’s previous quarterly dividend of $1.41. This represents a $6.04 dividend on an annualized basis and a yield of 1.39%. Caterpillar’s dividend payout ratio is 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.