Arizona State Retirement System Raises Holdings in Caterpillar Inc. (NYSE:CAT)

Arizona State Retirement System lifted its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 0.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 141,689 shares of the industrial products company's stock after purchasing an additional 1,114 shares during the quarter. Arizona State Retirement System's holdings in Caterpillar were worth $46,729,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In other Caterpillar news, Director David Maclennan bought 375 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The stock was purchased at an average price of $320.70 per share, for a total transaction of $120,262.50. Following the completion of the transaction, the director owned 6,653 shares of the company's stock, valued at $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 available through this hyperlink. Corporate insiders own 0.33% of the company's stock.

Caterpillar Stock Down 0.2%

NYSE CAT traded down $0.88 on Tuesday, reaching $404.89. The company had a trading volume of 2,166,822 shares, compared to its average volume of 2,528,833. The stock has a market capitalization of $190.72 billion, a P/E ratio of 19.73, a P/E/G ratio of 2.70 and a beta of 1.38. The company'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. The company has a quick ratio of 0.77, a current ratio of 1.32 and a debt-to-equity ratio of 1.43.

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

Caterpillar Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st will be issued a dividend of $1.51 per share. This is an increase from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date is Monday, July 21st. Caterpillar's dividend payout ratio is presently 29.43%.

Analysts Set New Price Targets

Several brokerages recently issued reports on CAT. Truist Financial lifted their price objective on Caterpillar from $396.00 to $414.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. Citigroup restated a "buy" rating and issued a $420.00 price target (up previously from $370.00) on shares of Caterpillar in a research note on Tuesday, June 24th. UBS Group upgraded shares of Caterpillar from a "sell" rating to a "neutral" rating and lifted their price target for the stock from $272.00 to $357.00 in a research report on Friday, May 16th. Melius Research upgraded Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 price objective for the company in a report on Wednesday, July 9th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Caterpillar from $395.00 to $475.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $406.47.

Caterpillar Company 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.