Caterpillar Inc. (NYSE:CAT) Holdings Increased by Markel Group Inc.

Markel Group Inc. increased its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 1.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 328,050 shares of the industrial products company's stock after acquiring an additional 3,250 shares during the period. Caterpillar makes up approximately 1.0% of Markel Group Inc.'s investment portfolio, making the stock its 29th biggest position. Markel Group Inc. owned approximately 0.07% of Caterpillar worth $108,191,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Pacific Point Advisors LLC bought a new position in shares of Caterpillar during the 4th quarter valued at about $579,000. Brighton Jones LLC grew its holdings in shares of Caterpillar by 51.5% in the 4th quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company's stock worth $2,688,000 after acquiring an additional 2,519 shares during the last quarter. Proficio Capital Partners LLC raised its position in shares of Caterpillar by 38.3% during the fourth quarter. Proficio Capital Partners LLC now owns 2,218 shares of the industrial products company's stock worth $805,000 after purchasing an additional 614 shares during the period. Brooklyn FI LLC purchased a new stake in shares of Caterpillar during the fourth quarter valued at $755,000. Finally, OVERSEA CHINESE BANKING Corp Ltd boosted its position in shares of Caterpillar by 198.1% in the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 4,803 shares of the industrial products company's stock valued at $1,747,000 after purchasing an additional 3,192 shares during the period. Institutional investors and hedge funds own 70.98% of the company's stock.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $418.22 on Friday. The business has a 50-day moving average of $367.85 and a two-hundred day moving average of $349.43. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.32 and a quick ratio of 0.77. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $419.90. The stock has a market capitalization of $197.00 billion, a P/E ratio of 20.38, a P/E/G ratio of 2.73 and a beta of 1.38.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 EPS for the quarter, missing the consensus estimate of $4.35 by ($0.10). Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. The company had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.64 billion. During the same quarter last year, the business earned $5.60 EPS. The company's revenue for the quarter was down 9.8% on a year-over-year basis. On average, equities research analysts predict that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st will be paid a $1.51 dividend. The ex-dividend date of this dividend is Monday, July 21st. 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 dividend yield of 1.44%. Caterpillar's payout ratio is presently 27.49%.

Insider Activity at Caterpillar

In related news, Director David Maclennan bought 375 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The shares were acquired at an average price of $320.70 per share, with a total value of $120,262.50. Following the completion of the transaction, the director owned 6,653 shares of the company's stock, valued at $2,133,617.10. The trade was a 5.97% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.33% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Morgan Stanley raised shares of Caterpillar from an "underweight" rating to an "equal weight" rating and reduced their price objective for the company from $300.00 to $283.00 in a research note on Wednesday, April 16th. Bank of America upped their price target on shares of Caterpillar from $335.00 to $385.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Citigroup reiterated a "buy" rating and set a $420.00 price objective (up from $370.00) on shares of Caterpillar in a research report on Tuesday, June 24th. Truist Financial increased their target price on Caterpillar from $396.00 to $414.00 and gave the company a "buy" rating in a report on Monday, June 23rd. Finally, Melius Research raised Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 target price on the stock in a research note on Wednesday, July 9th. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Caterpillar currently has an average rating of "Moderate Buy" and a consensus price target of $412.33.

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.

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