Allworth Financial LP Has $19.08 Million Stake in Caterpillar Inc. (NYSE:CAT)

Allworth Financial LP lifted its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 2.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 62,166 shares of the industrial products company's stock after acquiring an additional 1,334 shares during the quarter. Allworth Financial LP's holdings in Caterpillar were worth $19,076,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in CAT. Vanguard Group Inc. raised its position in shares of Caterpillar by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 46,809,540 shares of the industrial products company's stock valued at $16,980,629,000 after purchasing an additional 284,366 shares during the period. Geode Capital Management LLC raised its holdings in Caterpillar by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 10,449,770 shares of the industrial products company's stock worth $3,790,841,000 after acquiring an additional 236,315 shares during the period. Northern Trust Corp lifted its position in Caterpillar by 11.8% during the 4th quarter. Northern Trust Corp now owns 6,847,330 shares of the industrial products company's stock worth $2,483,937,000 after acquiring an additional 724,477 shares during the last quarter. Norges Bank bought a new position in shares of Caterpillar in the fourth quarter worth about $2,184,364,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Caterpillar by 8.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,940,391 shares of the industrial products company's stock worth $1,429,416,000 after buying an additional 312,878 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

Caterpillar Price Performance

Shares of CAT stock traded up $6.04 during trading hours on Thursday, hitting $408.22. 3,382,685 shares of the company's stock were exchanged, compared to its average volume of 2,533,871. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $418.50. The stock has a market cap of $192.29 billion, a price-to-earnings ratio of 19.57, a price-to-earnings-growth ratio of 2.67 and a beta of 1.38. 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 stock's 50-day moving average is $357.26 and its 200-day moving average is $347.63.

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 the consensus estimate of $14.64 billion. During the same period in the prior year, the company earned $5.60 EPS. The firm's revenue was down 9.8% compared to the same quarter last year. As a group, research analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st will be issued a dividend of $1.51 per share. This is an increase 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 yield of 1.48%. Caterpillar's dividend payout ratio is currently 27.49%.

Insider Buying and Selling

In other news, Director David Maclennan bought 375 shares of the company's stock in a transaction dated 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 completion of the transaction, the director directly owned 6,653 shares in the company, valued at $2,133,617.10. The trade was a 5.97% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.33% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Truist Financial upped their target price on Caterpillar from $396.00 to $414.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. Robert W. Baird raised their price objective on shares of Caterpillar from $395.00 to $422.00 and gave the stock an "outperform" rating in a report on Friday, June 20th. Citigroup reissued a "buy" rating and issued a $420.00 target price (up previously from $370.00) on shares of Caterpillar in a research note on Tuesday, June 24th. Baird R W upgraded shares of Caterpillar from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. Finally, Evercore ISI lowered their price objective on Caterpillar from $375.00 to $373.00 and set an "in-line" rating on the stock in a research note on Monday, May 19th. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average 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.