Caterpillar Inc. (NYSE:CAT) Shares Acquired by Rossmore Private Capital

Rossmore Private Capital grew its stake in Caterpillar Inc. (NYSE:CAT) by 2.1% during the 1st quarter, Holdings Channel reports. The firm owned 3,898 shares of the industrial products company’s stock after purchasing an additional 82 shares during the quarter. Rossmore Private Capital’s holdings in Caterpillar were worth $1,285,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CAT. Investment Management Corp VA ADV acquired a new position in Caterpillar during the fourth quarter worth about $33,000. Curat Global LLC acquired a new position in Caterpillar during the first quarter worth about $33,000. Redmont Wealth Advisors LLC acquired a new position in Caterpillar during the first quarter worth about $33,000. Quarry LP acquired a new position in Caterpillar during the fourth quarter worth about $35,000. Finally, Mpwm Advisory Solutions LLC acquired a new position in Caterpillar during the fourth quarter worth about $36,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Trading Down 2.0%

NYSE CAT opened at $408.40 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $441.15. The stock has a market capitalization of $191.32 billion, a PE ratio of 20.77, a price-to-earnings-growth ratio of 2.47 and a beta of 1.40. The firm has a 50 day moving average of $394.65 and a two-hundred day moving average of $355.11.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing the consensus estimate of $4.88 by ($0.16). Caterpillar had a return on equity of 48.95% and a net margin of 14.95%. The firm had revenue of $16.57 billion for the quarter, compared to analyst estimates of $16.14 billion. During the same quarter last year, the firm earned $5.99 EPS. The company’s revenue was down .7% on a year-over-year basis. As a group, research analysts expect that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st will be issued a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Monday, July 21st. This is a positive change from Caterpillar’s previous quarterly dividend of $1.41. Caterpillar’s dividend payout ratio (DPR) is currently 30.72%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CAT shares. Barclays lifted their target price on shares of Caterpillar from $383.00 to $425.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 6th. Oppenheimer lifted their target price 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. JPMorgan Chase & Co. boosted their price target on shares of Caterpillar from $475.00 to $520.00 and gave the company an “overweight” rating in a research note on Wednesday, August 6th. Bank of America boosted their price target on shares of Caterpillar from $460.00 to $495.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Finally, Truist Financial boosted their price target on shares of Caterpillar from $414.00 to $507.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $444.00.

About Caterpillar

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.