Inscription Capital LLC Takes Position in Caterpillar Inc. (NYSE:CAT)

Inscription Capital LLC purchased a new stake in Caterpillar Inc. (NYSE:CAT - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,732 shares of the industrial products company's stock, valued at approximately $1,368,000.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Caterpillar by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 46,809,540 shares of the industrial products company's stock worth $16,980,629,000 after buying an additional 284,366 shares during the period. Geode Capital Management LLC grew its holdings in Caterpillar by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 10,449,770 shares of the industrial products company's stock worth $3,790,841,000 after acquiring an additional 236,315 shares during the period. Fisher Asset Management LLC lifted its stake in shares of Caterpillar by 1.4% in the 4th quarter. Fisher Asset Management LLC now owns 9,081,775 shares of the industrial products company's stock valued at $3,294,505,000 after purchasing an additional 129,143 shares during the period. Northern Trust Corp boosted its position in shares of Caterpillar by 11.8% during the 4th quarter. Northern Trust Corp now owns 6,847,330 shares of the industrial products company's stock valued at $2,483,937,000 after purchasing an additional 724,477 shares in the last quarter. Finally, Norges Bank acquired a new stake in Caterpillar during the fourth quarter worth approximately $2,184,364,000. 70.98% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director David Maclennan purchased 375 shares of Caterpillar stock in a transaction that occurred on Wednesday, May 7th. The shares were bought at an average price of $320.70 per share, with a total value of $120,262.50. Following the purchase, the director now directly owns 6,653 shares of the company's stock, valued at approximately $2,133,617.10. This represents a 5.97% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.33% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Citigroup increased their price target on Caterpillar from $320.00 to $370.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Baird R W upgraded shares of Caterpillar from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 13th. Evercore ISI dropped their price objective on shares of Caterpillar from $375.00 to $373.00 and set an "in-line" rating on the stock in a report on Monday, May 19th. Truist Financial restated a "buy" rating and issued a $396.00 target price (up from $389.00) on shares of Caterpillar in a research note on Thursday, May 1st. Finally, Oppenheimer raised Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 price target on the stock in a research note on Thursday, May 1st. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $372.92.

Caterpillar Price Performance

NYSE CAT traded up $2.05 during trading on Wednesday, hitting $359.73. 1,999,937 shares of the stock traded hands, compared to its average volume of 2,548,754. The company has a quick ratio of 0.77, a current ratio of 1.32 and a debt-to-equity ratio of 1.43. The company has a market capitalization of $169.45 billion, a P/E ratio of 17.53, a price-to-earnings-growth ratio of 2.38 and a beta of 1.37. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $418.50. The firm has a 50-day simple moving average of $330.03 and a 200-day simple moving average of $347.62.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.35 by ($0.10). Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. The business had revenue of $14.25 billion for the quarter, compared to analysts' expectations of $14.64 billion. During the same period in the previous year, the company earned $5.60 EPS. Caterpillar's revenue for the quarter was down 9.8% compared to the same quarter last year. As a group, analysts predict that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, July 21st will be issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.68%. The ex-dividend date is Monday, July 21st. This is a positive change from Caterpillar's previous quarterly dividend of $1.41. Caterpillar's dividend payout ratio is presently 27.49%.

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.