Assetmark Inc. Boosts Stake in Caterpillar Inc. (NYSE:CAT)

Key Points

• Assetmark Inc. increased its holdings in Caterpillar Inc. by 4.3% during the 1st quarter, owning 19,614 shares worth approximately $6.47 million at the end of the quarter.
• Caterpillar reported quarterly earnings of $4.25 per share, falling short of expectations and showing a 9.8% decrease in revenue compared to the previous year.
• The company recently announced a dividend increase, now set at $1.51 per share, which reflects an annualized payout of $6.04 and a yield of 1.39%.

Assetmark Inc. increased its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 4.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,614 shares of the industrial products company's stock after acquiring an additional 812 shares during the quarter. Assetmark Inc.'s holdings in Caterpillar were worth $6,469,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. McIlrath & Eck LLC grew its holdings in shares of Caterpillar by 3.2% during the 4th quarter. McIlrath & Eck LLC now owns 962 shares of the industrial products company's stock worth $349,000 after purchasing an additional 30 shares in the last quarter. Asset Management Group Inc. lifted its position in shares of Caterpillar by 0.3% during the 4th quarter. Asset Management Group Inc. now owns 10,771 shares of the industrial products company's stock worth $3,907,000 after buying an additional 32 shares during the last quarter. Summit X LLC lifted its position in shares of Caterpillar by 3.2% during the 1st quarter. Summit X LLC now owns 1,025 shares of the industrial products company's stock worth $338,000 after buying an additional 32 shares during the last quarter. Dunhill Financial LLC lifted its position in shares of Caterpillar by 21.3% during the 4th quarter. Dunhill Financial LLC now owns 205 shares of the industrial products company's stock worth $75,000 after buying an additional 36 shares during the last quarter. Finally, Silvia Mccoll Wealth Management LLC lifted its position in shares of Caterpillar by 2.1% during the 1st quarter. Silvia Mccoll Wealth Management LLC now owns 1,752 shares of the industrial products company's stock worth $578,000 after buying an additional 36 shares during the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Stock Up 1.4%

Shares of NYSE:CAT traded up $6.01 during trading on Thursday, hitting $440.13. The stock had a trading volume of 1,072,826 shares, compared to its average volume of 2,675,396. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $439.95. The company has a market capitalization of $207.32 billion, a PE ratio of 21.45, a PEG ratio of 2.69 and a beta of 1.38. The firm's fifty day moving average is $382.09 and its 200 day moving average is $353.44. 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 posted its earnings results on Wednesday, April 30th. The industrial products company reported $4.25 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 the consensus estimate of $14.64 billion. Caterpillar had a return on equity of 53.77% and a net margin of 15.71%. The firm's revenue for the quarter was down 9.8% on a year-over-year basis. During the same period in the previous year, the business posted $5.60 EPS. Analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st will be paid a $1.51 dividend. 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 1.37%. The ex-dividend date is Monday, July 21st. Caterpillar's dividend payout ratio (DPR) is 29.43%.

Insider Activity

In other Caterpillar news, Director David Maclennan purchased 375 shares of the firm's stock in a transaction on Wednesday, May 7th. The shares were acquired at an average cost of $320.70 per share, with a total value of $120,262.50. Following the completion of the acquisition, the director directly owned 6,653 shares in the company, valued at $2,133,617.10. The trade was a 5.97% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.33% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Barclays boosted their price objective on Caterpillar from $335.00 to $383.00 and gave the company an "equal weight" rating in a report on Monday, July 21st. Melius raised Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 target price on the stock in a research report on Wednesday, July 9th. Oppenheimer upped their price target on Caterpillar from $395.00 to $483.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Baird R W raised Caterpillar from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. boosted their price objective on Caterpillar from $395.00 to $475.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Caterpillar currently has an average rating of "Moderate Buy" and a consensus target price of $419.33.

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.