Ashton Thomas Private Wealth LLC Boosts Position in 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 grew its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 87.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,926 shares of the industrial products company's stock after acquiring an additional 8,369 shares during the quarter. Ashton Thomas Private Wealth LLC's holdings in Caterpillar were worth $5,912,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Kestra Investment Management LLC increased its holdings in Caterpillar by 52.5% in the 1st quarter. Kestra Investment Management LLC now owns 2,017 shares of the industrial products company's stock worth $665,000 after buying an additional 694 shares during the period. Coordinated Financial Services Inc. CO acquired a new position in Caterpillar in the 1st quarter worth approximately $213,000. Talon Private Wealth LLC increased its holdings in Caterpillar by 3,271.6% in the 1st quarter. Talon Private Wealth LLC now owns 2,495 shares of the industrial products company's stock worth $823,000 after buying an additional 2,421 shares during the period. UniSuper Management Pty Ltd increased its holdings in Caterpillar by 6.2% in the 1st quarter. UniSuper Management Pty Ltd now owns 30,458 shares of the industrial products company's stock worth $10,045,000 after buying an additional 1,788 shares during the period. Finally, Richwood Investment Advisors LLC increased its holdings in Caterpillar by 20.3% in the 1st quarter. Richwood Investment Advisors LLC now owns 3,213 shares of the industrial products company's stock worth $1,060,000 after buying an additional 543 shares during the period. Institutional investors and hedge funds own 70.98% of the company's stock.

Caterpillar Price Performance

Shares of NYSE:CAT traded down $0.28 during midday trading on Friday, reaching $431.10. 2,341,271 shares of the company's stock traded hands, compared to its average volume of 2,399,245. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $441.15. The company has a market cap of $201.96 billion, a P/E ratio of 21.93, a PEG ratio of 2.62 and a beta of 1.41. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. The company has a fifty day simple moving average of $420.04 and a two-hundred day simple moving average of $365.32.

Caterpillar (NYSE:CAT - Get Free Report) last announced its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $16.14 billion. During the same quarter last year, the business earned $5.99 EPS. The company's quarterly revenue was down .7% on a year-over-year basis. Equities analysts predict that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CAT shares. Melius Research upgraded shares of Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 price target on the stock in a report on Wednesday, July 9th. Bank of America raised their price objective on shares of Caterpillar from $460.00 to $495.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Truist Financial raised their price objective on shares of Caterpillar from $414.00 to $507.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Robert W. Baird dropped their price objective on shares of Caterpillar from $500.00 to $495.00 and set an "outperform" rating on the stock in a research note on Friday, August 29th. Finally, Melius raised shares of Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price objective on the stock in a research note on Wednesday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $457.20.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Susan C. Schwab sold 2,324 shares of the firm's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $410.00, for a total value of $952,840.00. Following the completion of the transaction, the director owned 6,917 shares in the company, valued at $2,835,970. The trade was a 25.15% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,653 shares of company stock worth $8,943,642. Corporate insiders own 0.33% of the company's stock.

Caterpillar 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.