Avantax Advisory Services Inc. Raises Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Key Points

• Avantax Advisory Services Inc. increased its stake in Caterpillar Inc. by 3.5%, now holding 49,091 shares worth approximately $16.19 million, according to a recent SEC filing.
• Caterpillar recently announced a quarterly dividend increase from $1.41 to $1.51 per share, with the next payment scheduled for August 20th.
• Despite missing earnings estimates, Caterpillar's stock is showing upward movement, with several analysts adjusting their price targets, including a significant increase from $395 to $475 by JPMorgan Chase & Co.

Avantax Advisory Services Inc. raised its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 3.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 49,091 shares of the industrial products company's stock after purchasing an additional 1,666 shares during the period. Avantax Advisory Services Inc.'s holdings in Caterpillar were worth $16,190,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Victrix Investment Advisors bought a new position in shares of Caterpillar in the fourth quarter worth about $2,090,000. Pacific Point Advisors LLC bought a new position in shares of Caterpillar during the 4th quarter worth approximately $579,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Caterpillar by 18.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 191,640 shares of the industrial products company's stock worth $63,202,000 after buying an additional 30,070 shares in the last quarter. Crestwood Advisors Group LLC boosted its holdings in shares of Caterpillar by 3.4% during the 1st quarter. Crestwood Advisors Group LLC now owns 22,689 shares of the industrial products company's stock worth $7,483,000 after buying an additional 743 shares in the last quarter. Finally, Liberty Square Wealth Partners LLC lifted its holdings in shares of Caterpillar by 5.8% in the 1st quarter. Liberty Square Wealth Partners LLC now owns 1,636 shares of the industrial products company's stock worth $540,000 after purchasing an additional 90 shares in the last quarter. Institutional investors own 70.98% of the company's stock.

Caterpillar Price Performance

CAT traded up $4.55 on Friday, hitting $434.07. 2,207,764 shares of the company's stock traded hands, compared to its average volume of 2,516,496. The company's 50 day simple moving average is $377.02 and its 200-day simple moving average is $351.82. The firm has a market cap of $204.47 billion, a price-to-earnings ratio of 21.15, a P/E/G ratio of 2.71 and a beta of 1.38. Caterpillar Inc. has a one year low of $267.30 and a one year high of $434.87. The company has a current ratio of 1.32, a quick ratio of 0.77 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 the consensus estimate of $4.35 by ($0.10). Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. The company had revenue of $14.25 billion for the quarter, compared to the consensus estimate of $14.64 billion. During the same period in the prior year, the firm posted $5.60 EPS. The business's revenue for the quarter was down 9.8% compared to the same quarter last year. As a group, research analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st will be issued a $1.51 dividend. The ex-dividend date is 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 1.39%. Caterpillar's dividend payout ratio is currently 29.43%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Citigroup reaffirmed a "buy" rating and set a $420.00 target price (up from $370.00) on shares of Caterpillar in a research report on Tuesday, June 24th. Oppenheimer boosted their target price on Caterpillar from $395.00 to $483.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. Melius upgraded shares of Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price target on the stock in a report on Wednesday, July 9th. Sanford C. Bernstein reissued a "market perform" rating on shares of Caterpillar in a research note on Monday, July 14th. Finally, 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. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Caterpillar has an average rating of "Moderate Buy" and a consensus target price of $419.33.

Insider Buying and Selling at Caterpillar

In other news, Director David Maclennan acquired 375 shares of the business's stock in a transaction dated 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 owned 6,653 shares of the company's stock, valued at approximately $2,133,617.10. This trade represents a 5.97% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 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.