Harel Insurance Investments & Financial Services Ltd. Makes New Investment in Caterpillar Inc. (NYSE:CAT)

Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Caterpillar Inc. (NYSE:CAT - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 818 shares of the industrial products company's stock, valued at approximately $270,000.

Other large investors have also added to or reduced their stakes in the company. Flagship Wealth Advisors LLC bought a new position in Caterpillar during the 4th quarter valued at $26,000. Cyrus J. Lawrence LLC bought a new position in shares of Caterpillar during the fourth quarter valued at about $27,000. Investment Management Corp VA ADV bought a new position in shares of Caterpillar during the fourth quarter valued at about $33,000. Quarry LP bought a new position in shares of Caterpillar during the fourth quarter valued at about $35,000. Finally, Mpwm Advisory Solutions LLC bought a new position in shares of Caterpillar during the fourth quarter valued at about $36,000. Institutional investors own 70.98% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CAT shares. DA Davidson lifted their target price on shares of Caterpillar from $325.00 to $331.00 and gave the stock a "neutral" rating in a research report on Monday, May 5th. Morgan Stanley upgraded Caterpillar from an "underweight" rating to an "equal weight" rating and dropped their price target for the stock from $300.00 to $283.00 in a report on Wednesday, April 16th. Truist Financial lifted their target price on Caterpillar from $396.00 to $414.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Evercore ISI lowered their target price on Caterpillar from $375.00 to $373.00 and set an "in-line" rating on the stock in a research note on Monday, May 19th. Finally, Bank of America lifted their price objective on shares of Caterpillar from $335.00 to $385.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $380.83.

Insider Buying and Selling at Caterpillar

In other news, Director David Maclennan bought 375 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The shares were acquired at an average price of $320.70 per share, with a total value of $120,262.50. Following the acquisition, the director owned 6,653 shares of the company's stock, valued at approximately $2,133,617.10. The trade was a 5.97% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 0.33% of the stock is currently owned by corporate insiders.

Caterpillar Stock Performance

Shares of NYSE CAT traded down $6.32 during midday trading on Monday, hitting $391.54. The company's stock had a trading volume of 3,012,185 shares, compared to its average volume of 2,526,773. The stock has a fifty day moving average price of $353.66 and a 200 day moving average price of $346.92. 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 one year low of $267.30 and a one year high of $418.50. The firm has a market capitalization of $184.43 billion, a price-to-earnings ratio of 19.08, a P/E/G ratio of 2.64 and a beta of 1.38.

Caterpillar (NYSE:CAT - Get Free Report) last issued its 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 the consensus estimate of $14.64 billion. During the same period in the previous year, the firm earned $5.60 EPS. The company's revenue was down 9.8% compared to the same quarter last year. On average, research analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st will be given a dividend of $1.51 per share. The ex-dividend date of this dividend is Monday, July 21st. 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 1.54%. Caterpillar's dividend payout ratio is currently 29.43%.

About Caterpillar

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.