Caterpillar Inc. (NYSE:CAT) Stock Position Lifted by Goelzer Investment Management Inc.

Goelzer Investment Management Inc. grew its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 56.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,485 shares of the industrial products company's stock after purchasing an additional 8,846 shares during the period. Goelzer Investment Management Inc.'s holdings in Caterpillar were worth $8,075,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Flagship Wealth Advisors LLC purchased a new position in Caterpillar in the fourth quarter valued at about $26,000. Cyrus J. Lawrence LLC purchased a new position in Caterpillar during the 4th quarter valued at about $27,000. Investment Management Corp VA ADV acquired a new position in shares of Caterpillar during the 4th quarter worth approximately $33,000. Curat Global LLC purchased a new stake in Caterpillar in the 1st quarter valued at approximately $33,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in Caterpillar during the 1st quarter valued at $33,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Bank of America upped 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. Oppenheimer upgraded shares of Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 target price on the stock in a report on Thursday, May 1st. Truist Financial lifted their price target on shares of Caterpillar from $396.00 to $414.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. Evercore ISI reduced their price objective on shares of Caterpillar from $375.00 to $373.00 and set an "in-line" rating on the stock in a research note on Monday, May 19th. Finally, UBS Group raised shares of Caterpillar from a "sell" rating to a "neutral" rating and lifted their target price for the stock from $272.00 to $357.00 in a research note on Friday, May 16th. Six analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Caterpillar has a consensus rating of "Moderate Buy" and an average price target of $380.83.

Insider Buying and Selling at Caterpillar

In related news, Director David Maclennan purchased 375 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The shares were purchased at an average cost of $320.70 per share, with a total value of $120,262.50. Following the completion of the acquisition, the director directly owned 6,653 shares of the company's stock, valued at approximately $2,133,617.10. The trade was a 5.97% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.33% of the company's stock.

Caterpillar Trading Up 0.2%

Shares of CAT stock traded up $0.90 on Friday, reaching $399.33. 1,737,838 shares of the stock were exchanged, compared to its average volume of 2,523,847. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $418.50. The firm has a 50 day moving average of $350.10 and a two-hundred day moving average of $346.79. 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 cap of $188.10 billion, a P/E ratio of 19.46, a price-to-earnings-growth ratio of 2.65 and a beta of 1.38.

Caterpillar (NYSE:CAT - Get Free Report) last posted 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 period in the previous year, the firm posted $5.60 earnings per share. The company's revenue for the quarter was down 9.8% on a year-over-year basis. On average, research analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Increases Dividend

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

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.