Buck Wealth Strategies LLC Buys 973 Shares of Caterpillar Inc. (NYSE:CAT)

Buck Wealth Strategies LLC raised its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 45.8% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 3,097 shares of the industrial products company's stock after acquiring an additional 973 shares during the period. Buck Wealth Strategies LLC's holdings in Caterpillar were worth $1,021,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in CAT. Flagship Wealth Advisors LLC acquired a new stake in Caterpillar in the fourth quarter valued at approximately $26,000. Halbert Hargrove Global Advisors LLC acquired a new stake in Caterpillar in the fourth quarter valued at approximately $27,000. Cyrus J. Lawrence LLC acquired a new stake in Caterpillar in the fourth quarter valued at approximately $27,000. Noble Wealth Management PBC acquired a new stake in Caterpillar in the fourth quarter valued at approximately $31,000. Finally, Investment Management Corp VA ADV acquired a new stake in Caterpillar in the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 70.98% of the company's stock.

Caterpillar Stock Performance

NYSE:CAT traded up $6.13 during trading on Monday, reaching $366.65. The company's stock had a trading volume of 2,925,494 shares, compared to its average volume of 2,534,622. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $418.50. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.77 and a current ratio of 1.32. The firm has a 50 day moving average of $333.96 and a 200-day moving average of $346.44. The firm has a market cap of $172.71 billion, a price-to-earnings ratio of 17.87, a price-to-earnings-growth ratio of 2.40 and a beta of 1.37.

Caterpillar (NYSE:CAT - Get Free Report) last issued 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 firm had revenue of $14.25 billion for the quarter, compared to analysts' expectations of $14.64 billion. During the same period in the prior year, the company earned $5.60 EPS. The firm's quarterly revenue was down 9.8% on a year-over-year basis. Research analysts expect 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 given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend is Monday, July 21st. This is a boost from Caterpillar's previous quarterly dividend of $1.41. Caterpillar's dividend payout ratio is currently 27.49%.

Insider Activity

In related news, Director David Maclennan acquired 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, for a total transaction of $120,262.50. Following the purchase, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Morgan Stanley raised Caterpillar from an "underweight" rating to an "equal weight" rating and cut their target price for the company from $300.00 to $283.00 in a research report on Wednesday, April 16th. Citigroup lifted their target price on Caterpillar from $320.00 to $370.00 and gave the company a "buy" rating in a research report on Monday, May 5th. Wall Street Zen cut Caterpillar from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Bank of America lifted their target price on Caterpillar from $335.00 to $385.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Finally, Oppenheimer raised Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 target price on the stock in a research report on Thursday, May 1st. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $376.67.

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.