Edgar Lomax Co. VA Has $5.08 Million Stake in Caterpillar Inc. $CAT

Key Points

• Edgar Lomax Co. VA significantly reduced its holdings in Caterpillar Inc. by 80.3% during the 1st quarter, owning 15,400 shares after selling over 62,000 shares.
• Caterpillar announced a quarterly dividend increase to $1.51 per share, representing an annualized dividend of $6.04 and a yield of 1.5%.
• Recent analyst ratings show a mix of upgrades, with price targets increasing, including a notable rise to $520.00 by JPMorgan Chase & Co., reflecting growing confidence in Caterpillar's performance.

Edgar Lomax Co. VA decreased its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 80.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,400 shares of the industrial products company's stock after selling 62,693 shares during the period. Edgar Lomax Co. VA's holdings in Caterpillar were worth $5,079,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. McIlrath & Eck LLC grew its holdings in shares of Caterpillar by 3.2% in the 4th quarter. McIlrath & Eck LLC now owns 962 shares of the industrial products company's stock valued at $349,000 after acquiring an additional 30 shares in the last quarter. Allen Wealth Management LLC grew its holdings in shares of Caterpillar by 0.8% in the 1st quarter. Allen Wealth Management LLC now owns 4,010 shares of the industrial products company's stock valued at $1,322,000 after acquiring an additional 30 shares in the last quarter. Asset Management Group Inc. grew its holdings in shares of Caterpillar by 0.3% in the 4th quarter. Asset Management Group Inc. now owns 10,771 shares of the industrial products company's stock valued at $3,907,000 after acquiring an additional 32 shares in the last quarter. Summit X LLC lifted its stake in Caterpillar by 3.2% in the 1st quarter. Summit X LLC now owns 1,025 shares of the industrial products company's stock valued at $338,000 after purchasing an additional 32 shares during the last quarter. Finally, Menard Financial Group LLC lifted its stake in Caterpillar by 1.0% in the 1st quarter. Menard Financial Group LLC now owns 3,174 shares of the industrial products company's stock valued at $1,019,000 after purchasing an additional 32 shares during the last quarter. Institutional investors own 70.98% of the company's stock.

Caterpillar Stock Performance

CAT stock traded up $17.1140 during mid-day trading on Friday, hitting $435.0040. 3,784,363 shares of the company were exchanged, compared to its average volume of 3,368,960. The business has a 50 day simple moving average of $405.71 and a 200-day simple moving average of $357.81. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $203.79 billion, a PE ratio of 22.13, a price-to-earnings-growth ratio of 2.49 and a beta of 1.40. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $441.15.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.88 by ($0.16). The company had revenue of $16.57 billion for the quarter, compared to analyst estimates of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The company's revenue was down .7% on a year-over-year basis. During the same quarter last year, the business earned $5.99 earnings per share. On average, equities analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st were given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.4%. This is a boost from Caterpillar's previous quarterly dividend of $1.41. The ex-dividend date was Monday, July 21st. Caterpillar's dividend payout ratio (DPR) is 30.72%.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Sanford C. Bernstein reiterated a "market perform" rating on shares of Caterpillar in a research note on Monday, July 14th. Robert W. Baird raised their target price on shares of Caterpillar from $395.00 to $422.00 and gave the company an "outperform" rating in a research note on Friday, June 20th. Baird R W upgraded shares of Caterpillar from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. JPMorgan Chase & Co. raised their target price on shares of Caterpillar from $475.00 to $520.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. Finally, Bank of America raised their target price on shares of Caterpillar from $460.00 to $495.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock 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.