Fiduciary Family Office LLC Takes Position in Caterpillar Inc. (NYSE:CAT)

Key Points

• Fiduciary Family Office LLC acquired 2,989 shares of Caterpillar Inc. (NYSE:CAT), valued at approximately $986,000, during the first quarter.
• Several institutional investors have increased their holdings in Caterpillar, with 70.98% of the stock now owned by institutional investors and hedge funds.
• Caterpillar announced a quarterly dividend increase to $1.51 per share, up from $1.41, with a 1.5% dividend yield for shareholders of record on July 21st.

Fiduciary Family Office LLC purchased a new stake in Caterpillar Inc. (NYSE:CAT - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,989 shares of the industrial products company's stock, valued at approximately $986,000.

A number of other large investors have also modified their holdings of the business. Investment Management Corp VA ADV acquired a new stake in Caterpillar during the 4th quarter valued at $33,000. Curat Global LLC acquired a new stake in shares of Caterpillar during the first quarter valued at about $33,000. Redmont Wealth Advisors LLC acquired a new position in Caterpillar in the first quarter valued at approximately $33,000. Quarry LP bought a new stake in Caterpillar during the fourth quarter worth approximately $35,000. Finally, Mpwm Advisory Solutions LLC acquired a new position in Caterpillar in the fourth quarter worth approximately $36,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Price Performance

Shares of NYSE:CAT traded down $8.13 during midday trading on Monday, hitting $408.40. The stock had a trading volume of 3,415,993 shares, compared to its average volume of 2,969,034. The company's 50-day moving average price is $394.65 and its 200-day moving average price is $355.11. The company has a market capitalization of $191.32 billion, a P/E ratio of 20.77, a price-to-earnings-growth ratio of 2.47 and a beta of 1.40. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $441.15. 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 (NYSE:CAT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing analysts' consensus estimates of $4.88 by ($0.16). Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The firm had revenue of $16.57 billion during the quarter, compared to the consensus estimate of $16.14 billion. During the same period in the prior year, the company posted $5.99 earnings per share. The company's revenue for the quarter was down .7% compared to the same quarter last year. As a group, equities research analysts predict that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st will be issued a dividend of $1.51 per share. The ex-dividend date is Monday, July 21st. This is a positive change from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 annualized dividend and a yield of 1.5%. Caterpillar's dividend payout ratio is currently 30.72%.

Analyst Ratings Changes

Several research firms have weighed in on CAT. DA Davidson lifted their price objective on shares of Caterpillar from $331.00 to $388.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. UBS Group raised shares of Caterpillar from a "sell" rating to a "neutral" rating and boosted their target price for the stock from $272.00 to $357.00 in a research report on Friday, May 16th. Truist Financial upped their price objective on shares of Caterpillar from $414.00 to $507.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. JPMorgan Chase & Co. increased their price target on shares of Caterpillar from $475.00 to $520.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 6th. Finally, Melius raised shares of Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price target on the stock in a research note on Wednesday, July 9th. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $444.00.

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.