Dickmeyer Boyce Financial Management Inc. Makes New $848,000 Investment in Caterpillar Inc. $CAT

Dickmeyer Boyce Financial Management Inc. purchased a new stake in shares of Caterpillar Inc. (NYSE:CAT) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,196 shares of the industrial products company’s stock, valued at approximately $848,000.

Other hedge funds have also recently made changes to their positions in the company. Lam Group Inc. bought a new stake in Caterpillar during the 1st quarter valued at approximately $26,000. Torren Management LLC bought a new position in Caterpillar in the 4th quarter worth approximately $27,000. Frazier Financial Advisors LLC grew its holdings in Caterpillar by 220.0% during the 4th quarter. Frazier Financial Advisors LLC now owns 48 shares of the industrial products company’s stock valued at $28,000 after buying an additional 33 shares in the last quarter. Cedar Mountain Advisors LLC grew its holdings in Caterpillar by 82.1% during the 1st quarter. Cedar Mountain Advisors LLC now owns 51 shares of the industrial products company’s stock valued at $36,000 after buying an additional 23 shares in the last quarter. Finally, Cornerstone Financial Management LLC bought a new stake in shares of Caterpillar during the fourth quarter valued at approximately $32,000. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Performance

Shares of NYSE:CAT opened at $893.02 on Friday. The firm has a fifty day simple moving average of $928.87 and a two-hundred day simple moving average of $803.52. Caterpillar Inc. has a 52 week low of $405.46 and a 52 week high of $1,073.46. The company has a quick ratio of 0.81, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. The stock has a market capitalization of $411.32 billion, a P/E ratio of 44.45, a PEG ratio of 1.74 and a beta of 1.57.

Caterpillar (NYSE:CAT) last announced its earnings results on Thursday, April 30th. The industrial products company reported $5.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.65 by $0.89. Caterpillar had a net margin of 13.33% and a return on equity of 48.21%. The firm had revenue of $17.41 billion for the quarter, compared to analysts’ expectations of $16.53 billion. During the same period in the prior year, the company earned $4.25 EPS. The business’s revenue was up 22.2% compared to the same quarter last year. On average, analysts expect that Caterpillar Inc. will post 24.87 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Monday, July 20th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, July 20th. This represents a $6.52 annualized dividend and a dividend yield of 0.7%. This is an increase from Caterpillar’s previous quarterly dividend of $1.51. Caterpillar’s dividend payout ratio is presently 32.45%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CAT. Wolfe Research upped their target price on shares of Caterpillar from $670.00 to $750.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 31st. Wells Fargo & Company lifted their price target on shares of Caterpillar from $1,050.00 to $1,155.00 and gave the company an “overweight” rating in a report on Tuesday, June 23rd. Daiwa Securities Group boosted their price target on shares of Caterpillar from $790.00 to $900.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Robert W. Baird raised their price objective on Caterpillar from $1,165.00 to $1,200.00 and gave the company an “outperform” rating in a research report on Friday, June 26th. Finally, HSBC boosted their target price on Caterpillar from $850.00 to $1,100.00 in a research report on Tuesday, May 5th. Fifteen analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Caterpillar currently has an average rating of “Moderate Buy” and a consensus price target of $980.57.

Insider Activity at Caterpillar

In other Caterpillar news, insider Lange Bob De sold 24,222 shares of the business’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $922.92, for a total transaction of $22,354,968.24. Following the transaction, the insider owned 86,029 shares in the company, valued at $79,397,884.68. The trade was a 21.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Anthony D. Fassino sold 16,283 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $916.80, for a total transaction of $14,928,254.40. Following the completion of the sale, the insider owned 46,041 shares of the company’s stock, valued at $42,210,388.80. This trade represents a 26.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 95,773 shares of company stock worth $87,642,635 in the last ninety days. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.