Caterpillar Inc. (NYSE:CAT) Shares Bought by Financial Counselors Inc.

Financial Counselors Inc. lifted its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 2.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 169,018 shares of the industrial products company's stock after buying an additional 3,267 shares during the period. Financial Counselors Inc.'s holdings in Caterpillar were worth $55,742,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CAT. Flagship Wealth Advisors LLC acquired a new stake in Caterpillar during the 4th quarter worth approximately $26,000. Cyrus J. Lawrence LLC purchased a new stake in shares of Caterpillar during the fourth quarter worth approximately $27,000. Investment Management Corp VA ADV acquired a new stake in shares of Caterpillar during the fourth quarter worth $33,000. Quarry LP purchased a new position in Caterpillar in the 4th quarter valued at $35,000. Finally, Mpwm Advisory Solutions LLC acquired a new position in Caterpillar in the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 70.98% of the company's stock.

Insider Activity

In related news, Director David Maclennan acquired 375 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The stock was purchased at an average price of $320.70 per share, for a total transaction of $120,262.50. Following the transaction, the director owned 6,653 shares in the company, valued at $2,133,617.10. This trade represents a 5.97% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Truist Financial raised their target price on shares of Caterpillar from $396.00 to $414.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. DA Davidson raised their price objective on shares of Caterpillar from $325.00 to $331.00 and gave the company a "neutral" rating in a research report on Monday, May 5th. 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 report on Monday, May 19th. Oppenheimer raised Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 target price for the company in a research note on Thursday, May 1st. Finally, Citigroup restated a "buy" rating and issued a $420.00 price target (up from $370.00) on shares of Caterpillar in a research note on Tuesday, June 24th. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $380.83.

Caterpillar Trading Up 0.2%

NYSE:CAT opened at $399.33 on Monday. The company has a market capitalization of $188.10 billion, a PE ratio of 19.46, a price-to-earnings-growth ratio of 2.64 and a beta of 1.38. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $418.50. The stock has a fifty day simple moving average of $351.96 and a 200-day simple moving average of $346.74. The company has a quick ratio of 0.77, a current ratio of 1.32 and a debt-to-equity ratio of 1.43.

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

Caterpillar Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st will be issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.51%. This is a boost from Caterpillar's previous quarterly dividend of $1.41. The ex-dividend date is Monday, July 21st. Caterpillar's payout ratio is 27.49%.

Caterpillar 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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