Accurate Wealth Management LLC Has $2.05 Million Stake in Caterpillar Inc. (NYSE:CAT)

Accurate Wealth Management LLC lifted its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 13.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,211 shares of the industrial products company's stock after purchasing an additional 733 shares during the quarter. Accurate Wealth Management LLC's holdings in Caterpillar were worth $2,048,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CAT. Flagship Wealth Advisors LLC acquired a new stake in Caterpillar during the fourth quarter valued at approximately $26,000. Halbert Hargrove Global Advisors LLC purchased a new position in shares of Caterpillar in the fourth quarter worth approximately $27,000. Cyrus J. Lawrence LLC purchased a new stake in Caterpillar in the 4th quarter worth about $27,000. Noble Wealth Management PBC purchased a new position in Caterpillar in the fourth quarter valued at about $31,000. Finally, Investment Management Corp VA ADV bought a new stake in Caterpillar in the fourth quarter worth $33,000. Institutional investors and hedge funds own 70.98% of the company's stock.

Insider Activity at Caterpillar

In other Caterpillar news, Director David Maclennan acquired 375 shares of the stock in a transaction on Wednesday, May 7th. The shares were bought at an average cost of $320.70 per share, with a total value of $120,262.50. Following the transaction, the director now owns 6,653 shares of the company's stock, valued at approximately $2,133,617.10. This trade represents a 5.97% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.33% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on CAT. Truist Financial reaffirmed a "buy" rating and set a $396.00 price objective (up from $389.00) on shares of Caterpillar in a report on Thursday, May 1st. UBS Group upgraded shares of Caterpillar from a "sell" rating to a "neutral" rating and raised their target price for the stock from $272.00 to $357.00 in a report on Friday, May 16th. Oppenheimer raised Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 target price on the stock in a research report on Thursday, May 1st. Citigroup lifted their target price on shares of Caterpillar from $320.00 to $370.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Finally, Evercore ISI reduced their target price on Caterpillar from $375.00 to $373.00 and set an "in-line" rating on the stock in a report on Monday, May 19th. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Caterpillar presently has a consensus rating of "Moderate Buy" and an average price target of $372.92.

Caterpillar Stock Up 0.2%

CAT stock traded up $0.63 during trading on Tuesday, reaching $358.70. 1,892,107 shares of the company traded hands, compared to its average volume of 2,593,119. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $418.50. The business has a 50 day simple moving average of $321.20 and a 200 day simple moving average of $349.13. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42. The company has a market capitalization of $168.96 billion, a price-to-earnings ratio of 16.25, a price-to-earnings-growth ratio of 1.87 and a beta of 1.37.

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 16.65% and a return on equity of 58.18%. The company had revenue of $14.25 billion during the quarter, compared to analyst estimates of $14.64 billion. During the same period in the prior year, the business posted $5.60 EPS. Caterpillar's revenue was down 9.8% compared to the same quarter last year. On average, equities research analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Monday, April 21st were given a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend was Monday, April 21st. Caterpillar's dividend payout ratio is currently 27.49%.

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.