Ashton Thomas Private Wealth LLC Purchases 8,369 Shares of Caterpillar Inc. $CAT

Key Points

• Ashton Thomas Private Wealth LLC increased its stake in Caterpillar Inc. by 87.6% during the first quarter, purchasing an additional 8,369 shares and bringing its total holdings to $5.9 million.
• Caterpillar recently declared a quarterly dividend of $1.51, up from the previous $1.41, indicating a positive dividend trend with a current yield of 1.4%.
• Despite reporting lower earnings per share (EPS) than expected for the last quarter, Caterpillar's revenue surpassed analyst estimates, reaching $16.57 billion amidst a 0.7% year-over-year decline.

Ashton Thomas Private Wealth LLC raised its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 87.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,926 shares of the industrial products company's stock after purchasing an additional 8,369 shares during the quarter. Ashton Thomas Private Wealth LLC's holdings in Caterpillar were worth $5,912,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Kestra Investment Management LLC boosted its position in Caterpillar by 52.5% during the 1st quarter. Kestra Investment Management LLC now owns 2,017 shares of the industrial products company's stock worth $665,000 after acquiring an additional 694 shares during the last quarter. Coordinated Financial Services Inc. CO acquired a new stake in shares of Caterpillar in the first quarter valued at approximately $213,000. Talon Private Wealth LLC lifted its position in shares of Caterpillar by 3,271.6% in the first quarter. Talon Private Wealth LLC now owns 2,495 shares of the industrial products company's stock worth $823,000 after purchasing an additional 2,421 shares in the last quarter. UniSuper Management Pty Ltd boosted its holdings in Caterpillar by 6.2% during the first quarter. UniSuper Management Pty Ltd now owns 30,458 shares of the industrial products company's stock worth $10,045,000 after purchasing an additional 1,788 shares during the last quarter. Finally, Richwood Investment Advisors LLC grew its position in Caterpillar by 20.3% in the first quarter. Richwood Investment Advisors LLC now owns 3,213 shares of the industrial products company's stock valued at $1,060,000 after purchasing an additional 543 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Stock Performance

CAT opened at $423.09 on Monday. The business has a fifty day simple moving average of $417.05 and a 200 day simple moving average of $362.54. The company has a market capitalization of $198.21 billion, a PE ratio of 21.52, a price-to-earnings-growth ratio of 2.57 and a beta of 1.41. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $441.15. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing the consensus estimate of $4.88 by ($0.16). Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The business had revenue of $16.57 billion during the quarter, compared to analyst estimates of $16.14 billion. During the same quarter last year, the company posted $5.99 earnings per share. The company's revenue was down .7% on a year-over-year basis. Research analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st were given a $1.51 dividend. The ex-dividend date was Monday, July 21st. This is a positive change from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.4%. Caterpillar's dividend payout ratio (DPR) is presently 30.72%.

Insider Activity at Caterpillar

In related news, Director Susan C. Schwab sold 2,324 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $410.00, for a total transaction of $952,840.00. Following the sale, the director owned 6,917 shares of the company's stock, valued at $2,835,970. This represents a 25.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jason Kaiser sold 2,161 shares of the firm's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $417.70, for a total value of $902,649.70. Following the transaction, the insider owned 8,632 shares in the company, valued at approximately $3,605,586.40. This trade represents a 20.02% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,653 shares of company stock worth $8,943,642. Company insiders own 0.33% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CAT shares. DA Davidson increased their price objective on shares of Caterpillar from $331.00 to $388.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Jefferies Financial Group reissued a "buy" rating and set a $500.00 price target on shares of Caterpillar in a research report on Friday, August 29th. Robert W. Baird decreased their price target on Caterpillar from $500.00 to $495.00 and set an "outperform" rating for the company in a research note on Friday, August 29th. Barclays upped their price objective on Caterpillar from $383.00 to $425.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. Finally, Melius Research raised shares of Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 target price for the company in a research note on Wednesday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $457.20.

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.

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