Caterpillar Inc. (NYSE:CAT) Shares Bought by CWA Asset Management Group LLC

CWA Asset Management Group LLC lifted its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 14.1% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,725 shares of the industrial products company's stock after purchasing an additional 1,695 shares during the period. CWA Asset Management Group LLC's holdings in Caterpillar were worth $4,526,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Pacific Point Advisors LLC acquired a new position in shares of Caterpillar during the fourth quarter worth about $579,000. Brighton Jones LLC grew its holdings in Caterpillar by 51.5% during the 4th 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 in the last quarter. Union Bancaire Privee UBP SA acquired a new stake in shares of Caterpillar in the 4th quarter valued at $7,396,000. Strategic Financial Concepts LLC lifted its position in shares of Caterpillar by 12.1% during the 4th quarter. Strategic Financial Concepts LLC now owns 702 shares of the industrial products company's stock worth $255,000 after purchasing an additional 76 shares during the last quarter. Finally, Valmark Advisers Inc. grew its stake in shares of Caterpillar by 1.7% during the fourth quarter. Valmark Advisers Inc. now owns 3,327 shares of the industrial products company's stock worth $1,207,000 after purchasing an additional 55 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Caterpillar news, Director David Maclennan acquired 375 shares of Caterpillar stock in a transaction dated Wednesday, May 7th. The stock was acquired at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the completion of the transaction, the director now owns 6,653 shares in the company, valued at approximately $2,133,617.10. This represents a 5.97% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.33% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CAT shares. JPMorgan Chase & Co. decreased their price target on Caterpillar from $490.00 to $380.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Morgan Stanley raised Caterpillar from an "underweight" rating to an "equal weight" rating and lowered their price target for the company from $300.00 to $283.00 in a report on Wednesday, April 16th. Wall Street Zen cut shares of Caterpillar from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Truist Financial reiterated a "buy" rating and set a $396.00 price target (up from $389.00) on shares of Caterpillar in a research note on Thursday, May 1st. Finally, Oppenheimer raised Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 target price for the company in a report on Thursday, May 1st. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $372.92.

Caterpillar Trading Down 1.3%

NYSE CAT opened at $357.85 on Wednesday. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $418.50. The company has a current ratio of 1.32, a quick ratio of 0.77 and a debt-to-equity ratio of 1.43. The stock has a market cap of $168.56 billion, a P/E ratio of 17.44, a PEG ratio of 2.41 and a beta of 1.37. The company's fifty day simple moving average is $330.03 and its 200-day simple moving average is $347.62.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.35 by ($0.10). The company had revenue of $14.25 billion during the quarter, compared to the consensus estimate of $14.64 billion. Caterpillar had a return on equity of 53.77% and a net margin of 15.71%. The firm's quarterly revenue was down 9.8% on a year-over-year basis. During the same quarter last year, the firm posted $5.60 EPS. Equities research analysts predict that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st will be issued 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 dividend yield of 1.69%. Caterpillar's dividend payout ratio is 27.49%.

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.

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