BluePointe Capital Management LLC Invests $281,000 in Caterpillar Inc. (NYSE:CAT)

BluePointe Capital Management LLC acquired a new stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 853 shares of the industrial products company's stock, valued at approximately $281,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CAT. Apollon Financial LLC increased its stake in shares of Caterpillar by 7.4% in the first quarter. Apollon Financial LLC now owns 1,406 shares of the industrial products company's stock valued at $464,000 after buying an additional 97 shares in the last quarter. Apollon Wealth Management LLC grew its holdings in Caterpillar by 0.8% during the 1st quarter. Apollon Wealth Management LLC now owns 25,806 shares of the industrial products company's stock worth $8,511,000 after acquiring an additional 202 shares during the last quarter. Bogart Wealth LLC increased its position in Caterpillar by 4.5% in the 1st quarter. Bogart Wealth LLC now owns 29,250 shares of the industrial products company's stock valued at $9,647,000 after acquiring an additional 1,259 shares in the last quarter. Catalyst Financial Partners LLC raised its stake in shares of Caterpillar by 1.8% in the first quarter. Catalyst Financial Partners LLC now owns 4,749 shares of the industrial products company's stock worth $1,566,000 after acquiring an additional 85 shares during the last quarter. Finally, Signaturefd LLC lifted its position in shares of Caterpillar by 2.1% during the first quarter. Signaturefd LLC now owns 11,936 shares of the industrial products company's stock worth $3,937,000 after purchasing an additional 245 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

Insider Buying and Selling at Caterpillar

In related news, Director David Maclennan purchased 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, for a total transaction of $120,262.50. Following the purchase, the director owned 6,653 shares in the company, valued at approximately $2,133,617.10. This represents a 5.97% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.33% of the stock is owned by insiders.

Caterpillar Stock Performance

NYSE CAT traded down $0.88 on Tuesday, hitting $404.89. 2,166,822 shares of the stock were exchanged, compared to its average volume of 2,553,768. The company has a market capitalization of $190.72 billion, a PE ratio of 19.75, a P/E/G ratio of 2.69 and a beta of 1.38. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.32 and a quick ratio of 0.77. The business's fifty day moving average is $362.45 and its 200 day moving average is $348.21. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $418.50.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings data 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). The business had revenue of $14.25 billion during the quarter, compared to analyst estimates of $14.64 billion. Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. The business's quarterly revenue was down 9.8% on a year-over-year basis. During the same period in the previous year, the business earned $5.60 earnings per share. Research analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

The business 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 $1.51 dividend. This is an increase from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 annualized dividend and a dividend yield of 1.49%. The ex-dividend date is Monday, July 21st. Caterpillar's payout ratio is currently 27.49%.

Analysts Set New Price Targets

Several research analysts have issued reports on CAT shares. Truist Financial upped their price objective on Caterpillar from $396.00 to $414.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. Sanford C. Bernstein reissued a "market perform" rating on shares of Caterpillar in a research note on Monday. Robert W. Baird lifted their target price on shares of Caterpillar from $395.00 to $422.00 and gave the stock an "outperform" rating in a report on Friday, June 20th. Melius Research raised Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 price target on the stock in a research note on Wednesday, July 9th. Finally, Oppenheimer upgraded Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 price objective for the company in a report on Thursday, May 1st. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Caterpillar has a consensus rating of "Moderate Buy" and an average target price of $406.47.

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.