Cary Street Partners Financial LLC Makes New $5.68 Million Investment in Caterpillar Inc. (NYSE:CAT)

Cary Street Partners Financial LLC acquired a new stake in Caterpillar Inc. (NYSE:CAT - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 15,663 shares of the industrial products company's stock, valued at approximately $5,682,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Flagship Wealth Advisors LLC acquired a new stake in shares of Caterpillar in the 4th quarter valued at $26,000. Halbert Hargrove Global Advisors LLC acquired a new position in Caterpillar in the fourth quarter valued at about $27,000. Cyrus J. Lawrence LLC acquired a new stake in shares of Caterpillar during the fourth quarter worth approximately $27,000. Noble Wealth Management PBC bought a new position in shares of Caterpillar in the fourth quarter valued at approximately $31,000. Finally, Retirement Wealth Solutions LLC acquired a new position in shares of Caterpillar in the 4th quarter worth approximately $34,000. Institutional investors own 70.98% of the company's stock.

Caterpillar Stock Performance

Shares of CAT stock opened at $323.04 on Tuesday. The stock has a 50-day moving average of $317.79 and a 200-day moving average of $356.78. Caterpillar Inc. has a one year low of $267.30 and a one year high of $418.50. The stock has a market cap of $154.39 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 1.87 and a beta of 1.35. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89.

Caterpillar (NYSE:CAT - Get Free Report) last posted 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 58.18% and a net margin of 16.65%. The firm had revenue of $14.25 billion during the quarter, compared to analyst estimates of $14.64 billion. During the same quarter last year, the business posted $5.60 earnings per share. The company's revenue for the quarter was down 9.8% on a year-over-year basis. As a group, sell-side analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Monday, April 21st will be issued a $1.41 dividend. The ex-dividend date of this dividend is Monday, April 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.75%. Caterpillar's dividend payout ratio (DPR) is currently 27.49%.

Insider Transactions at Caterpillar

In other Caterpillar news, insider Jason Kaiser sold 2,425 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total transaction of $860,147.50. Following the sale, the insider now directly owns 6,275 shares in the company, valued at approximately $2,225,742.50. This trade represents a 27.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.29% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CAT. UBS Group upgraded Caterpillar from a "sell" rating to a "neutral" rating and increased their target price for the stock from $355.00 to $385.00 in a report on Monday, February 3rd. Robert W. Baird upgraded shares of Caterpillar from an "underperform" rating to a "neutral" rating and raised their price objective for the company from $300.00 to $309.00 in a research report on Thursday, May 1st. Evercore ISI upped their target price on shares of Caterpillar from $365.00 to $375.00 and gave the stock an "in-line" rating in a research report on Wednesday, February 19th. DA Davidson raised their price target on shares of Caterpillar from $325.00 to $331.00 and gave the company a "neutral" rating in a report on Monday. Finally, Wedbush raised Caterpillar to an "outperform" rating in a report on Monday, February 3rd. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $370.67.

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.

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