Caterpillar Inc. (NYSE:CAT) Shares Acquired by Allworth Financial LP

Allworth Financial LP grew its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 2.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,166 shares of the industrial products company's stock after buying an additional 1,334 shares during the quarter. Allworth Financial LP's holdings in Caterpillar were worth $19,076,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of CAT. Flagship Wealth Advisors LLC purchased a new position in Caterpillar in the 4th quarter valued at approximately $26,000. Cyrus J. Lawrence LLC acquired a new position in shares of Caterpillar in the fourth quarter worth $27,000. Investment Management Corp VA ADV acquired a new position in shares of Caterpillar in the fourth quarter worth $33,000. Curat Global LLC acquired a new position in shares of Caterpillar in the first quarter worth $33,000. Finally, Redmont Wealth Advisors LLC acquired a new position in shares of Caterpillar in the first quarter worth $33,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Caterpillar

In other Caterpillar news, Director David Maclennan purchased 375 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The shares were acquired at an average price of $320.70 per share, for a total transaction of $120,262.50. Following the completion of the purchase, the director owned 6,653 shares in the company, valued at $2,133,617.10. The trade was a 5.97% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.33% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CAT. Truist Financial boosted their price target on Caterpillar from $396.00 to $414.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. Morgan Stanley raised Caterpillar from an "underweight" rating to an "equal weight" rating and lowered their price objective for the company from $300.00 to $283.00 in a research report on Wednesday, April 16th. Bank of America lifted their price objective on Caterpillar from $335.00 to $385.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Melius Research raised Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price objective for the company in a research report on Wednesday. Finally, Baird R W raised Caterpillar from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $397.86.

Caterpillar Trading Up 2.1%

Shares of CAT opened at $402.71 on Thursday. The stock's 50-day moving average is $357.26 and its two-hundred day moving average is $347.63. The stock has a market cap of $189.69 billion, a PE ratio of 19.63, a P/E/G ratio of 2.62 and a beta of 1.38. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $418.50. 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 (NYSE:CAT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $4.25 EPS for the quarter, missing analysts' consensus estimates of $4.35 by ($0.10). Caterpillar had a return on equity of 53.77% and a net margin of 15.71%. The company had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.64 billion. During the same quarter in the prior year, the firm earned $5.60 EPS. The company's revenue for the quarter was down 9.8% compared to the same quarter last year. Equities analysts forecast 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 will be paid on Wednesday, August 20th. Investors of record on Monday, July 21st will be paid a $1.51 dividend. This is a boost from Caterpillar's previous quarterly dividend of $1.41. The ex-dividend date is Monday, July 21st. This represents a $6.04 annualized dividend and a dividend yield of 1.50%. Caterpillar's payout ratio is 27.49%.

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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