Nemes Rush Group LLC Sells 126 Shares of Caterpillar Inc. (NYSE:CAT)

Nemes Rush Group LLC lowered its position in shares of Caterpillar Inc. (NYSE:CAT) by 1.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,619 shares of the industrial products company’s stock after selling 126 shares during the period. Nemes Rush Group LLC’s holdings in Caterpillar were worth $2,183,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in CAT. Victrix Investment Advisors bought a new position in Caterpillar during the 4th quarter valued at about $2,090,000. Pacific Point Advisors LLC purchased a new position in shares of Caterpillar during the fourth quarter valued at approximately $579,000. Wealth Enhancement Advisory Services LLC lifted its position in Caterpillar by 18.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 191,640 shares of the industrial products company’s stock valued at $63,202,000 after purchasing an additional 30,070 shares during the period. Crestwood Advisors Group LLC lifted its position in Caterpillar by 3.4% during the first quarter. Crestwood Advisors Group LLC now owns 22,689 shares of the industrial products company’s stock valued at $7,483,000 after purchasing an additional 743 shares during the period. Finally, Liberty Square Wealth Partners LLC boosted its holdings in Caterpillar by 5.8% in the first quarter. Liberty Square Wealth Partners LLC now owns 1,636 shares of the industrial products company’s stock worth $540,000 after purchasing an additional 90 shares during the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on CAT. Robert W. Baird boosted 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. Truist Financial upped their price objective on Caterpillar from $396.00 to $414.00 and gave the company a “buy” rating in a research report on Monday, June 23rd. DA Davidson increased their target price on Caterpillar from $331.00 to $388.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. Barclays boosted their price target on Caterpillar from $335.00 to $383.00 and gave the company an “equal weight” rating in a research note on Monday, July 21st. Finally, Melius Research raised shares of Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price target for the company in a research report on Wednesday, July 9th. Seven 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $419.33.

Caterpillar Stock Performance

CAT opened at $434.07 on Friday. The company has a 50 day simple moving average of $377.02 and a two-hundred day simple moving average of $351.82. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.32 and a quick ratio of 0.77. The firm 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 Inc. has a 1-year low of $267.30 and a 1-year high of $434.87.

Caterpillar (NYSE:CAT) last issued its 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 return on equity of 53.77% and a net margin of 15.71%. 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 company posted $5.60 EPS. The company’s quarterly revenue was down 9.8% on a year-over-year basis. Equities analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The firm also recently disclosed 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. This is a positive change from Caterpillar’s previous quarterly dividend of $1.41. The ex-dividend date is Monday, July 21st. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.39%. Caterpillar’s dividend payout ratio is 29.43%.

Insider Activity

In other Caterpillar news, Director David Maclennan purchased 375 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were bought at an average cost 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 approximately $2,133,617.10. This trade represents a 5.97% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.33% of the company’s stock.

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.