RWA Wealth Partners LLC Grows Position in Caterpillar Inc. $CAT

Key Points

• RWA Wealth Partners LLC increased its holdings in Caterpillar Inc. by 44.5%, owning 95,599 shares worth approximately $31.5 million after acquiring an additional 29,448 shares.
• Caterpillar recently announced a quarterly dividend of $1.51 per share, up from the previous $1.41, reflecting a 1.5% dividend yield for stockholders.
• Despite reporting $4.72 EPS which missed analysts' estimates, Caterpillar's revenue for the quarter reached $16.57 billion, exceeding expectations.

RWA Wealth Partners LLC raised its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 44.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 95,599 shares of the industrial products company's stock after buying an additional 29,448 shares during the quarter. RWA Wealth Partners LLC's holdings in Caterpillar were worth $31,529,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Victrix Investment Advisors purchased a new stake in shares of Caterpillar during the fourth quarter valued at about $2,090,000. Charles Schwab Investment Management Inc. lifted its position in shares of Caterpillar by 0.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company's stock valued at $1,089,798,000 after buying an additional 15,347 shares during the last quarter. Pacific Point Advisors LLC purchased a new stake in shares of Caterpillar during the fourth quarter valued at about $579,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of Caterpillar by 18.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 191,640 shares of the industrial products company's stock valued at $63,202,000 after buying an additional 30,070 shares during the last quarter. Finally, Crestwood Advisors Group LLC lifted its position 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 valued at $7,483,000 after buying an additional 743 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Stock Performance

NYSE:CAT traded up $17.1140 during midday trading on Friday, hitting $435.0040. The company's stock had a trading volume of 3,784,363 shares, compared to its average volume of 3,368,960. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $441.15. The firm's 50 day moving average is $405.71 and its 200-day moving average is $357.81. 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 firm has a market cap of $203.79 billion, a P/E ratio of 22.13, a P/E/G ratio of 2.49 and a beta of 1.40.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $16.14 billion. During the same quarter last year, the company posted $5.99 EPS. Caterpillar's quarterly revenue was down .7% compared to the same quarter last year. Equities analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Monday, July 21st were issued a $1.51 dividend. This is a boost from Caterpillar's previous quarterly dividend of $1.41. The ex-dividend date was Monday, July 21st. This represents a $6.04 annualized dividend and a yield of 1.4%. Caterpillar's dividend payout ratio is currently 30.72%.

Insider Activity at Caterpillar

In related news, Director Susan C. Schwab sold 2,324 shares of the stock in a transaction that occurred 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 transaction, the director owned 6,917 shares in the company, valued at approximately $2,835,970. This represents a 25.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jason Kaiser sold 2,161 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $417.70, for a total transaction of $902,649.70. Following the completion of the transaction, the insider owned 8,632 shares in the company, valued at approximately $3,605,586.40. This trade represents a 20.02% decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CAT shares. Evercore ISI upgraded shares of Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 price objective on the stock in a report on Tuesday. Sanford C. Bernstein restated a "market perform" rating on shares of Caterpillar in a report on Monday, July 14th. DA Davidson upped their price objective on shares of Caterpillar from $331.00 to $388.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Oppenheimer upped their price objective on shares of Caterpillar from $395.00 to $483.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. Finally, Robert W. Baird upped their price objective on shares of Caterpillar from $395.00 to $422.00 and gave the company an "outperform" rating in a report on Friday, June 20th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $450.87.

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.