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

Allworth Financial LP raised its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 2.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 62,166 shares of the industrial products company's stock after buying an additional 1,334 shares during the period. Allworth Financial LP's holdings in Caterpillar were worth $19,076,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CAT. Flagship Wealth Advisors LLC purchased a new stake in shares of Caterpillar during the 4th quarter worth about $26,000. Cyrus J. Lawrence LLC bought a new stake in shares of Caterpillar in the 4th quarter worth approximately $27,000. Investment Management Corp VA ADV acquired a new stake in Caterpillar during the 4th quarter valued at $33,000. Curat Global LLC acquired a new position in Caterpillar in the 1st quarter worth about $33,000. Finally, Redmont Wealth Advisors LLC acquired a new position in Caterpillar during the first quarter valued at approximately $33,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Trading Down 0.5%

CAT stock traded down $1.92 during trading on Friday, reaching $406.42. 1,239,787 shares of the stock traded hands, compared to its average volume of 2,528,893. The business's 50 day moving average price is $359.15 and its 200-day moving average price is $347.93. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week 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. The firm has a market capitalization of $191.44 billion, a PE ratio of 19.81, a P/E/G ratio of 2.67 and a beta of 1.38.

Caterpillar (NYSE:CAT - Get Free Report) last announced its earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share for the quarter, missing the consensus estimate of $4.35 by ($0.10). The business had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.64 billion. Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. The firm's revenue was down 9.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.60 earnings per share. As a group, sell-side analysts forecast 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 will be paid on Wednesday, August 20th. Shareholders 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 represents a $6.04 annualized dividend and a dividend yield of 1.49%. This is a positive change from Caterpillar's previous quarterly dividend of $1.41. Caterpillar's dividend payout ratio (DPR) is presently 29.43%.

Insiders Place Their Bets

In other Caterpillar news, Director David Maclennan purchased 375 shares of Caterpillar stock in a transaction on Wednesday, May 7th. The stock was bought at an average price of $320.70 per share, for a total transaction of $120,262.50. Following 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 SEC, which is accessible through this link. 0.33% of the stock is owned by insiders.

Analyst Ratings Changes

CAT has been the topic of a number of research reports. Baird R W upgraded shares of Caterpillar from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Citigroup reissued a "buy" rating and set a $420.00 target price (up previously from $370.00) on shares of Caterpillar in a research note on Tuesday, June 24th. Oppenheimer raised Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 price objective for the company in a research report on Thursday, May 1st. Morgan Stanley upgraded shares of Caterpillar from an "underweight" rating to an "equal weight" rating and reduced their target price for the stock from $300.00 to $283.00 in a research note on Wednesday, April 16th. Finally, JPMorgan Chase & Co. raised their price target on Caterpillar from $395.00 to $475.00 and gave the stock an "overweight" rating in a report on Thursday. Six investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $404.64.

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.