Belmont Capital LLC Has $237,000 Stock Position in Caterpillar Inc. $CAT

Key Points

• Belmont Capital LLC significantly increased its stake in Caterpillar Inc. by 928.6%, owning 720 shares valued at $237,000 after purchasing an additional 650 shares.
• Caterpillar announced a quarterly dividend of $1.51 per share, reflecting an increase from the previous dividend of $1.41, with a payout ratio of 30.72%.
• Despite a strong revenue of $16.57 billion, Caterpillar's earnings per share missed estimates, reporting $4.72 instead of the expected $4.88.

Belmont Capital LLC lifted its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 928.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 720 shares of the industrial products company's stock after buying an additional 650 shares during the period. Belmont Capital LLC's holdings in Caterpillar were worth $237,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Investment Management Corp VA ADV acquired a new position in Caterpillar in the 4th quarter worth about $33,000. Curat Global LLC bought a new stake in shares of Caterpillar during the first quarter worth about $33,000. Redmont Wealth Advisors LLC acquired a new position in shares of Caterpillar in the first quarter valued at approximately $33,000. Mpwm Advisory Solutions LLC bought a new position in Caterpillar in the 4th quarter valued at approximately $36,000. Finally, Mattson Financial Services LLC acquired a new stake in Caterpillar during the 4th quarter worth approximately $39,000. Institutional investors and hedge funds own 70.98% of the company's stock.

Caterpillar Stock Down 0.8%

Shares of NYSE:CAT opened at $415.81 on Wednesday. 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. The business's 50-day moving average is $414.65 and its 200-day moving average is $361.08. The company has a market capitalization of $194.80 billion, a price-to-earnings ratio of 21.15, a P/E/G ratio of 2.53 and a beta of 1.41.

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

Caterpillar Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Monday, July 21st were given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Monday, July 21st. This is a boost from Caterpillar's previous quarterly dividend of $1.41. Caterpillar's dividend payout ratio is presently 30.72%.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, 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 sale, the director directly owned 6,917 shares in the company, valued at approximately $2,835,970. This trade represents a 25.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jason Kaiser sold 2,161 shares of the company's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the transaction, the insider owned 8,632 shares in the company, valued at $3,605,586.40. This represents a 20.02% decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CAT has been the subject of several analyst reports. Evercore ISI raised shares of Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 price target for the company in a research note on Tuesday, August 19th. Citigroup increased their price objective on Caterpillar from $460.00 to $500.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Melius raised Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 target price on the stock in a report on Wednesday, July 9th. UBS Group raised Caterpillar from a "sell" rating to a "neutral" rating and increased their price target for the company from $272.00 to $357.00 in a research note on Friday, May 16th. 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 research report on Wednesday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $457.20.

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.

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