Empower Advisory Group LLC Grows Stock Position in Caterpillar Inc. (NYSE:CAT)

Key Points

• Empower Advisory Group LLC increased its holdings in Caterpillar Inc. by 0.4%, owning 256,441 shares worth approximately $84.57 million.
• Several analysts have upgraded their ratings for Caterpillar, with Melius Research raising their price target to $500.00, while the stock currently holds a consensus rating of "Moderate Buy".
• Caterpillar declared a quarterly dividend of $1.51 per share, an increase from the previous $1.41, with a yield of 1.4% and an upcoming ex-dividend date on July 21st.

Empower Advisory Group LLC increased its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 0.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 256,441 shares of the industrial products company's stock after acquiring an additional 1,053 shares during the period. Empower Advisory Group LLC owned about 0.05% of Caterpillar worth $84,574,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Investment Management Corp VA ADV bought a new position in shares of Caterpillar during the 4th quarter worth approximately $33,000. Quarry LP bought a new stake in shares of Caterpillar during the 4th quarter worth about $35,000. Mpwm Advisory Solutions LLC acquired a new position in Caterpillar in the 4th quarter valued at about $36,000. Mattson Financial Services LLC acquired a new stake in Caterpillar during the fourth quarter worth approximately $39,000. Finally, Curat Global LLC bought a new stake in shares of Caterpillar during the first quarter worth approximately $33,000. Institutional investors and hedge funds own 70.98% of the company's stock.

Caterpillar Stock Down 2.5%

CAT traded down $10.65 during trading on Thursday, hitting $417.07. 4,260,195 shares of the company's stock traded hands, compared to its average volume of 2,880,540. The stock has a market capitalization of $196.46 billion, a price-to-earnings ratio of 21.21, a PEG ratio of 2.69 and a beta of 1.40. The company has a current ratio of 1.34, a quick ratio of 0.77 and a debt-to-equity ratio of 1.50. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $441.15. The company's 50 day simple moving average is $391.99 and its two-hundred day simple moving average is $355.63.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.88 by ($0.16). The firm had revenue of $16.57 billion for the quarter, compared to the consensus estimate of $16.14 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The company's revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.99 earnings per share. Analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

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

Analyst Ratings Changes

A number of research analysts have commented on CAT shares. UBS Group raised Caterpillar from a "sell" rating to a "neutral" rating and upped their price objective for the company from $272.00 to $357.00 in a report on Friday, May 16th. Evercore ISI decreased their price target 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. DA Davidson lifted their price objective on shares of Caterpillar from $331.00 to $388.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Melius Research upgraded shares of Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 target price on the stock in a research report on Wednesday, July 9th. Finally, Truist Financial lifted their price target on shares of Caterpillar from $414.00 to $507.00 and gave the company a "buy" rating in a research report on Wednesday. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $444.00.

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.