Elyxium Wealth LLC Takes $800,000 Position in Caterpillar Inc. (NYSE:CAT)

Elyxium Wealth LLC purchased a new stake in Caterpillar Inc. (NYSE:CAT - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,427 shares of the industrial products company's stock, valued at approximately $800,000.

A number of other institutional investors have also modified their holdings of CAT. Cyrus J. Lawrence LLC acquired a new position in Caterpillar during the 4th quarter worth approximately $27,000. Investment Management Corp VA ADV acquired a new position in Caterpillar during the 4th quarter worth approximately $33,000. Curat Global LLC acquired a new position in Caterpillar during the 1st quarter worth approximately $33,000. Redmont Wealth Advisors LLC acquired a new position in Caterpillar during the 1st quarter worth approximately $33,000. Finally, Quarry LP acquired a new position in shares of Caterpillar in the 4th quarter valued at approximately $35,000. Hedge funds and other institutional investors own 70.98% of the company's stock.

Insider Activity at Caterpillar

In related news, Director David Maclennan acquired 375 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The stock was acquired at an average cost of $320.70 per share, with a total value of $120,262.50. Following the completion of the purchase, 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

CAT has been the topic of a number of recent analyst reports. Truist Financial upped their target price on Caterpillar from $396.00 to $414.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. Oppenheimer boosted their price target on Caterpillar from $395.00 to $483.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. Baird R W upgraded Caterpillar from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 13th. Melius Research upgraded Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 price objective for the company in a research note on Wednesday, July 9th. Finally, Bank of America upped their price objective on Caterpillar from $335.00 to $385.00 and gave the company a "buy" rating in a report on Friday, May 30th. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $419.33.

Caterpillar Stock Performance

NYSE:CAT traded up $9.28 during mid-day trading on Wednesday, hitting $426.47. 1,779,469 shares of the company's stock traded hands, compared to its average volume of 2,501,048. The firm has a 50 day moving average of $369.61 and a two-hundred day moving average of $349.62. The company has a current ratio of 1.32, a quick ratio of 0.77 and a debt-to-equity ratio of 1.43. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $428.10. The firm has a market capitalization of $200.88 billion, a price-to-earnings ratio of 20.78, a price-to-earnings-growth ratio of 2.72 and a beta of 1.38.

Caterpillar (NYSE:CAT - Get Free Report) last posted its earnings results on Wednesday, April 30th. The industrial products company reported $4.25 EPS 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 company had revenue of $14.25 billion for the quarter, compared to the consensus estimate of $14.64 billion. During the same quarter last year, the business earned $5.60 EPS. Caterpillar's quarterly revenue was down 9.8% compared to the same quarter last year. On average, equities analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The company also recently announced 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 boost from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 annualized dividend and a dividend yield of 1.42%. The ex-dividend date is Monday, July 21st. Caterpillar's dividend payout ratio (DPR) 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.