Cary Street Partners Financial LLC Has $5.51 Million Position in Caterpillar Inc. (NYSE:CAT)

Key Points

• Cary Street Partners Financial LLC increased its holdings in Caterpillar Inc. by 6.6%, owning 16,694 shares worth approximately $5.51 million at the end of the 1st quarter.
• Caterpillar Inc. reported $4.72 earnings per share for the last quarter, missing estimates, with revenue of $16.57 billion, reflecting a 0.7% year-over-year decline.
• The company announced an increase in its quarterly dividend to $1.51 per share, up from the previous $1.41, with a projected annual dividend yield of 1.4%.

Cary Street Partners Financial LLC boosted its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 6.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,694 shares of the industrial products company's stock after purchasing an additional 1,031 shares during the quarter. Cary Street Partners Financial LLC's holdings in Caterpillar were worth $5,506,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in CAT. Victrix Investment Advisors bought a new position in Caterpillar in the fourth quarter valued at approximately $2,090,000. Pacific Point Advisors LLC acquired a new position in shares of Caterpillar in the 4th quarter valued at $579,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of Caterpillar by 18.6% in 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 purchasing an additional 30,070 shares during the last quarter. Crestwood Advisors Group LLC grew its stake in shares of Caterpillar by 3.4% during the first quarter. Crestwood Advisors Group LLC now owns 22,689 shares of the industrial products company's stock worth $7,483,000 after purchasing an additional 743 shares during the period. Finally, Liberty Square Wealth Partners LLC lifted its stake in Caterpillar by 5.8% in the first quarter. Liberty Square Wealth Partners LLC now owns 1,636 shares of the industrial products company's stock valued at $540,000 after buying an additional 90 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CAT has been the subject of several analyst reports. Melius upgraded Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 target price for the company in a research report on Wednesday, July 9th. DA Davidson upped their target price on shares of Caterpillar from $331.00 to $388.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Baird R W raised shares of Caterpillar from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. UBS Group raised shares of Caterpillar from a "sell" rating to a "neutral" rating and boosted their price target for the company from $272.00 to $357.00 in a report on Friday, May 16th. Finally, Bank of America raised their price objective on Caterpillar from $460.00 to $495.00 and gave the stock a "buy" rating in a research note on Wednesday. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $444.00.

Caterpillar Stock Down 2.5%

Shares of CAT traded down $10.65 during mid-day trading on Thursday, hitting $417.07. 4,260,195 shares of the company's stock were exchanged, compared to its average volume of 2,880,540. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.77. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $441.15. The company has a market cap of $196.46 billion, a PE ratio of 21.21, a P/E/G ratio of 2.69 and a beta of 1.40. The company has a 50-day simple moving average of $391.99 and a 200 day simple moving average of $355.63.

Caterpillar (NYSE:CAT - Get Free Report) last released 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 net margin of 14.95% and a return on equity of 48.95%. The business had revenue of $16.57 billion during the quarter, compared to the consensus estimate of $16.14 billion. During the same period last year, the business posted $5.99 EPS. The firm's revenue for the quarter was down .7% on a year-over-year basis. On average, research analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st will be paid a $1.51 dividend. 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 yield of 1.4%. The ex-dividend date is Monday, July 21st. Caterpillar's dividend payout ratio is 29.43%.

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.