Bernard Wealth Management Corp. Acquires Shares of 8,336 Caterpillar Inc. (NYSE:CAT)

Bernard Wealth Management Corp. acquired a new position in Caterpillar Inc. (NYSE:CAT - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 8,336 shares of the industrial products company's stock, valued at approximately $3,024,000. Caterpillar accounts for 1.4% of Bernard Wealth Management Corp.'s holdings, making the stock its 17th biggest position.

Other large investors have also added to or reduced their stakes in the company. Flagship Wealth Advisors LLC bought a new position in Caterpillar in the fourth quarter worth about $26,000. Halbert Hargrove Global Advisors LLC purchased a new position in shares of Caterpillar in the 4th quarter valued at approximately $27,000. Cyrus J. Lawrence LLC bought a new stake in shares of Caterpillar during the fourth quarter valued at approximately $27,000. Noble Wealth Management PBC purchased a new stake in Caterpillar in the fourth quarter worth $31,000. Finally, Investment Management Corp VA ADV bought a new position in Caterpillar in the fourth quarter worth $33,000. Institutional investors own 70.98% of the company's stock.

Insiders Place Their Bets

In related news, Director David Maclennan bought 375 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The shares were bought at an average cost of $320.70 per share, with a total value of $120,262.50. Following the acquisition, the director now owns 6,653 shares in the company, valued at $2,133,617.10. This trade represents a 5.97% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.33% of the company's stock.

Caterpillar Stock Performance

CAT traded up $2.24 during mid-day trading on Thursday, reaching $351.73. 2,290,266 shares of the company traded hands, compared to its average volume of 2,632,152. The company's fifty day moving average price is $318.94 and its 200-day moving average price is $351.77. The stock has a market capitalization of $165.68 billion, a P/E ratio of 15.94, a P/E/G ratio of 1.87 and a beta of 1.35. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $418.50.

Caterpillar (NYSE:CAT - Get Free Report) last announced its earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.35 by ($0.10). Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. The firm had revenue of $14.25 billion during the quarter, compared to analysts' expectations of $14.64 billion. During the same period in the previous year, the business posted $5.60 earnings per share. The company's revenue for the quarter was down 9.8% on a year-over-year basis. On average, sell-side analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Monday, April 21st were issued a dividend of $1.41 per share. The ex-dividend date of this dividend was Monday, April 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.60%. Caterpillar's dividend payout ratio is currently 27.49%.

Analysts Set New Price Targets

CAT has been the topic of a number of research reports. Morgan Stanley upgraded shares of Caterpillar from an "underweight" rating to an "equal weight" rating and dropped their target price for the company from $300.00 to $283.00 in a report on Wednesday, April 16th. Bank of America decreased their target price on shares of Caterpillar from $452.00 to $414.00 and set a "buy" rating for the company in a research note on Friday, January 31st. Oppenheimer raised Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 price target on the stock in a research report on Thursday, May 1st. UBS Group upgraded Caterpillar from a "sell" rating to a "neutral" rating and lifted their price objective for the company from $272.00 to $357.00 in a research note on Friday, May 16th. Finally, Citigroup raised their price target on Caterpillar from $320.00 to $370.00 and gave the company a "buy" rating in a report on Monday, May 5th. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $375.33.

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.