Berry Wealth Group LP Takes $269,000 Position in Caterpillar Inc. (NYSE:CAT)

Berry Wealth Group LP bought a new position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 816 shares of the industrial products company's stock, valued at approximately $269,000.

A number of other hedge funds also recently modified their holdings of CAT. Retirement Guys Formula LLC raised its position in Caterpillar by 13.7% during the first quarter. Retirement Guys Formula LLC now owns 4,669 shares of the industrial products company's stock valued at $1,540,000 after purchasing an additional 561 shares in the last quarter. LaFleur & Godfrey LLC increased its stake in shares of Caterpillar by 1.1% in the 1st quarter. LaFleur & Godfrey LLC now owns 51,353 shares of the industrial products company's stock valued at $16,936,000 after purchasing an additional 568 shares during the last quarter. Petros Family Wealth LLC raised its holdings in shares of Caterpillar by 27.0% during the 1st quarter. Petros Family Wealth LLC now owns 1,397 shares of the industrial products company's stock worth $461,000 after buying an additional 297 shares in the last quarter. Ledyard National Bank raised its holdings in shares of Caterpillar by 1.2% during the 1st quarter. Ledyard National Bank now owns 12,822 shares of the industrial products company's stock worth $4,229,000 after buying an additional 148 shares in the last quarter. Finally, Keudell Morrison Wealth Management lifted its position in shares of Caterpillar by 3.0% during the 1st quarter. Keudell Morrison Wealth Management now owns 6,152 shares of the industrial products company's stock worth $2,029,000 after buying an additional 179 shares during the last quarter. Institutional investors own 70.98% of the company's stock.

Caterpillar Trading Down 0.4%

Shares of Caterpillar stock traded down $1.39 during trading on Wednesday, hitting $371.63. The company's stock had a trading volume of 1,737,411 shares, compared to its average volume of 2,537,008. The stock has a market cap of $175.05 billion, a price-to-earnings ratio of 18.11, a price-to-earnings-growth ratio of 2.44 and a beta of 1.37. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $418.50. The stock has a 50-day moving average price of $336.93 and a two-hundred day moving average price of $346.43. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.32 and a quick ratio of 0.77.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly 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). Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. The company had revenue of $14.25 billion during the quarter, compared to the consensus estimate of $14.64 billion. During the same quarter last year, the firm posted $5.60 EPS. The company's quarterly revenue was down 9.8% on a year-over-year basis. Equities research 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. Shareholders of record on Monday, July 21st will be issued a dividend of $1.51 per share. This is a positive change from Caterpillar's previous quarterly dividend of $1.41. The ex-dividend date of this dividend is Monday, July 21st. This represents a $6.04 annualized dividend and a yield of 1.63%. Caterpillar's dividend payout ratio (DPR) is presently 29.43%.

Insider Transactions at Caterpillar

In other news, Director David Maclennan bought 375 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was acquired at an average price of $320.70 per share, with a total value of $120,262.50. Following the completion of the purchase, the director now directly owns 6,653 shares of the company's stock, valued at approximately $2,133,617.10. This represents a 5.97% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.33% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CAT. Oppenheimer raised Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 target price for the company in a research note on Thursday, May 1st. DA Davidson lifted their price target on shares of Caterpillar from $325.00 to $331.00 and gave the company a "neutral" rating in a report on Monday, May 5th. Truist Financial increased their price objective on shares of Caterpillar from $396.00 to $414.00 and gave the company a "buy" rating in a research note on Monday. Evercore ISI cut their target price on shares of Caterpillar from $375.00 to $373.00 and set an "in-line" rating on the stock in a research report on Monday, May 19th. Finally, UBS Group upgraded shares of Caterpillar from a "sell" rating to a "neutral" rating and upped their price target for the stock from $272.00 to $357.00 in a report on Friday, May 16th. Six analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $380.83.

About Caterpillar

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.