Caterpillar Inc. $CAT Shares Acquired by NewEdge Advisors LLC

Key Points

• NewEdge Advisors LLC raised its stake in Caterpillar Inc. by 10.3%, owning a total of 205,136 shares worth $67.65 million at the end of the most recent quarter.
• Caterpillar's recent earnings results showed a miss on earnings per share at $4.72, compared to the expected $4.88, despite revenues beating expectations at $16.57 billion.
• The company recently declared a dividend increase to $1.51 per share, reflecting a 1.4% yield and raising its annualized dividend to $6.04.

NewEdge Advisors LLC boosted its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 10.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 205,136 shares of the industrial products company's stock after purchasing an additional 19,240 shares during the quarter. NewEdge Advisors LLC's holdings in Caterpillar were worth $67,654,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Investment Management Corp VA ADV purchased a new position in Caterpillar during the 4th quarter valued at about $33,000. Curat Global LLC bought a new position in Caterpillar in the first quarter valued at about $33,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Caterpillar during the first quarter worth about $33,000. Mpwm Advisory Solutions LLC acquired a new stake in Caterpillar in the 4th quarter valued at approximately $36,000. Finally, Mattson Financial Services LLC acquired a new position in shares of Caterpillar during the 4th quarter worth approximately $39,000. 70.98% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Caterpillar news, Director Susan C. Schwab sold 2,324 shares of Caterpillar stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $410.00, for a total transaction of $952,840.00. Following the completion of the sale, the director owned 6,917 shares of the company's stock, valued at $2,835,970. The trade was a 25.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jason Kaiser sold 2,161 shares of the business's stock in a transaction dated 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 of the company's stock, 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. Insiders sold a total of 21,653 shares of company stock valued at $8,943,642 over the last 90 days. Insiders own 0.33% of the company's stock.

Wall Street Analysts Forecast Growth

CAT has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price target on Caterpillar from $475.00 to $520.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. Truist Financial upped their target price on Caterpillar from $414.00 to $507.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Evercore ISI raised Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 target price for the company in a report on Tuesday, August 19th. Bank of America increased their price target on Caterpillar from $460.00 to $495.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Finally, Barclays upped their target price on Caterpillar from $383.00 to $425.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. Two investment 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 stock. According to MarketBeat.com, Caterpillar presently has a consensus rating of "Moderate Buy" and an average price target of $457.20.

Caterpillar Stock Performance

NYSE:CAT opened at $420.48 on Friday. The company has a market capitalization of $196.99 billion, a P/E ratio of 21.39, a P/E/G ratio of 2.52 and a beta of 1.41. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $441.15. 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 business has a fifty day simple moving average of $416.29 and a two-hundred day simple moving average of $361.91.

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

Caterpillar Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st were paid a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.4%. This is an increase from Caterpillar's previous quarterly dividend of $1.41. The ex-dividend date of this dividend was Monday, July 21st. Caterpillar's dividend payout ratio is presently 30.72%.

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.

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