Caterpillar Inc. (NYSE:CAT) Shares Acquired by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Key Points

• Empirical Financial Services LLC increased its holdings in Caterpillar Inc. by 22.7%, acquiring an additional 2,383 shares in the first quarter, bringing its total to 12,875 shares valued at approximately $4.25 million.
• Caterpillar has announced a quarterly dividend increase to $1.51 per share, scheduled for payment on August 20th, which represents a 1.4% yield based on its current share price.
• Analysts have issued positive ratings with a consensus price target for Caterpillar stock at $419.33, with some upgrading their ratings to "buy" or "strong-buy" due to expected performance in the upcoming quarters.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 22.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,875 shares of the industrial products company's stock after acquiring an additional 2,383 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Caterpillar were worth $4,246,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Pacific Point Advisors LLC acquired a new stake in shares of Caterpillar during the 4th quarter worth approximately $579,000. Brighton Jones LLC grew its position in Caterpillar by 51.5% in the fourth 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 period. DnB Asset Management AS increased its stake in Caterpillar by 23.6% during the fourth quarter. DnB Asset Management AS now owns 1,536 shares of the industrial products company's stock worth $557,000 after acquiring an additional 293 shares during the last quarter. Wellington Management Group LLP raised its position in Caterpillar by 72.2% in the fourth quarter. Wellington Management Group LLP now owns 88,936 shares of the industrial products company's stock valued at $32,262,000 after purchasing an additional 37,282 shares during the period. Finally, Franklin Resources Inc. lifted its stake in shares of Caterpillar by 4.6% in the 4th quarter. Franklin Resources Inc. now owns 463,786 shares of the industrial products company's stock valued at $168,243,000 after purchasing an additional 20,471 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director David Maclennan purchased 375 shares of the company's stock in a transaction on Wednesday, May 7th. The shares were bought at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the completion of the purchase, the director directly owned 6,653 shares of the company's stock, valued at approximately $2,133,617.10. This trade represents a 5.97% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.33% of the stock is currently owned by insiders.

Caterpillar Trading Up 0.9%

NYSE CAT opened at $438.19 on Friday. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $441.15. The firm has a 50 day moving average of $383.95 and a two-hundred day moving average of $353.96. The company has a quick ratio of 0.77, a current ratio of 1.32 and a debt-to-equity ratio of 1.43. The stock has a market capitalization of $206.40 billion, a PE ratio of 21.35, a price-to-earnings-growth ratio of 2.72 and a beta of 1.38.

Caterpillar (NYSE:CAT - Get Free Report) last issued its earnings results 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 firm had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.64 billion. During the same quarter in the previous year, the firm posted $5.60 EPS. The business's revenue for the quarter was down 9.8% on a year-over-year basis. As a group, research analysts expect that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, July 21st will be paid a dividend of $1.51 per share. The ex-dividend date is Monday, July 21st. This is a positive change from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 annualized dividend and a yield of 1.4%. Caterpillar's dividend payout ratio (DPR) is presently 29.43%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Melius upgraded shares of Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price objective on the stock in a report on Wednesday, July 9th. DA Davidson lifted their price target on shares of Caterpillar from $331.00 to $388.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Bank of America upped their price objective on shares of Caterpillar from $335.00 to $385.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Baird R W raised shares of Caterpillar from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Finally, Melius Research upgraded Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 price target on the stock in a research note on Wednesday, July 9th. Seven 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 presently has an average rating of "Moderate Buy" and a consensus price target of $419.33.

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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