Caterpillar Inc. $CAT Shares Acquired by CreativeOne Wealth LLC

Key Points

• CreativeOne Wealth LLC increased its stake in Caterpillar Inc. by 12.5% in the first quarter, owning a total of 9,192 shares valued at approximately $3,032,000.
• Analysts have raised price targets for Caterpillar stock, with Robert W. Baird adjusting from $395.00 to $422.00, while Citigroup increased theirs from $460.00 to $500.00.
• Caterpillar recently declared a quarterly dividend of $1.51 per share, up from the previous $1.41, representing an annualized yield of 1.4%.

CreativeOne Wealth LLC increased its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 12.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,192 shares of the industrial products company's stock after buying an additional 1,022 shares during the quarter. CreativeOne Wealth LLC's holdings in Caterpillar were worth $3,032,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Investment Management Corp VA ADV acquired a new stake in shares of Caterpillar in the fourth quarter valued at $33,000. Quarry LP acquired a new position in shares of Caterpillar in the 4th quarter valued at $35,000. Mpwm Advisory Solutions LLC purchased a new position in Caterpillar in the 4th quarter worth about $36,000. Mattson Financial Services LLC purchased a new position in Caterpillar in the 4th quarter worth about $39,000. Finally, Curat Global LLC purchased a new position in Caterpillar in the 1st quarter worth about $33,000. Institutional investors and hedge funds own 70.98% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CAT shares. Robert W. Baird lifted their price target on Caterpillar from $395.00 to $422.00 and gave the stock an "outperform" rating in a research note on Friday, June 20th. Truist Financial lifted their price target on Caterpillar from $414.00 to $507.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Melius raised Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price target on the stock in a research note on Wednesday, July 9th. Baird R W raised Caterpillar from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. Finally, Citigroup lifted their price target on Caterpillar from $460.00 to $500.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $450.87.

Caterpillar Stock Up 0.4%

Shares of Caterpillar stock opened at $433.17 on Thursday. The stock has a 50-day moving average price of $410.05 and a 200 day moving average price of $359.24. The company has a market cap of $202.93 billion, a P/E ratio of 22.03, a P/E/G ratio of 2.57 and a beta of 1.40. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50. 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 released its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) 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 firm had revenue of $16.57 billion for the quarter, compared to analyst estimates of $16.14 billion. During the same period in the previous year, the business posted $5.99 EPS. Caterpillar's revenue for the quarter was down .7% on a year-over-year basis. As a group, analysts expect that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st were issued a dividend of $1.51 per share. The ex-dividend date of this dividend was Monday, July 21st. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.4%. This is a positive change from Caterpillar's previous quarterly dividend of $1.41. Caterpillar's payout ratio is currently 30.72%.

Insider Transactions at Caterpillar

In other Caterpillar news, Director Susan C. Schwab sold 2,324 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $410.00, for a total value of $952,840.00. Following the sale, the director owned 6,917 shares of the company's stock, valued at $2,835,970. This trade represents a 25.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jason Kaiser sold 2,161 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $417.70, for a total value of $902,649.70. Following the completion of the sale, the insider directly owned 8,632 shares in the company, valued at $3,605,586.40. This trade represents a 20.02% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company's stock.

Caterpillar Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.