Caterpillar Inc. (NYSE:CAT) Shares Bought by Nicholas Hoffman & Company LLC.

Key Points

• Nicholas Hoffman & Company LLC increased its stake in Caterpillar Inc. by 8.1%, owning 12,205 shares valued at $4,025,000 after acquiring additional shares in the first quarter.
• Caterpillar recently reported a missed earnings per share (EPS) of $4.72, below the consensus estimate of $4.88, despite revenue exceeding expectations at $16.57 billion.
• The company declared a quarterly dividend of $1.51 per share, up from $1.41, representing an annualized dividend of $6.04 and a yield of 1.4%.

Nicholas Hoffman & Company LLC. grew its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 8.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,205 shares of the industrial products company's stock after acquiring an additional 915 shares during the quarter. Nicholas Hoffman & Company LLC.'s holdings in Caterpillar were worth $4,025,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Investment Management Corp VA ADV purchased a new stake in shares of Caterpillar during the 4th quarter worth about $33,000. Curat Global LLC purchased a new stake in shares of Caterpillar during the 1st quarter worth about $33,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Caterpillar during the 1st quarter worth about $33,000. Quarry LP purchased a new stake in shares of Caterpillar during the 4th quarter worth about $35,000. Finally, Mpwm Advisory Solutions LLC purchased a new stake in shares of Caterpillar during the 4th quarter worth about $36,000. Institutional investors and hedge funds own 70.98% of the company's stock.

Caterpillar Stock Performance

Caterpillar stock opened at $433.54 on Wednesday. The stock has a market cap of $204.21 billion, a P/E ratio of 21.13, a price-to-earnings-growth ratio of 2.71 and a beta of 1.40. 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 50 day moving average of $389.11 and a 200-day moving average of $354.92. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $441.15.

Caterpillar (NYSE:CAT - Get Free Report) last released its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing the consensus estimate of $4.88 by ($0.16). The business had revenue of $16.57 billion for the quarter, compared to analysts' expectations of $16.14 billion. Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. The business's quarterly revenue was down .7% compared to the same quarter last year. During the same quarter last year, the company posted $5.99 earnings per share. On average, analysts expect that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Monday, July 21st. This represents a $6.04 annualized dividend and a dividend yield of 1.4%. This is an increase from Caterpillar's previous quarterly dividend of $1.41. Caterpillar's dividend payout ratio is currently 29.43%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CAT. Evercore ISI decreased their target price on Caterpillar from $375.00 to $373.00 and set an "in-line" rating for the company in a report on Monday, May 19th. UBS Group upgraded Caterpillar from a "sell" rating to a "neutral" rating and boosted their target price for the stock from $272.00 to $357.00 in a report on Friday, May 16th. JPMorgan Chase & Co. boosted their target price on Caterpillar from $395.00 to $475.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Sanford C. Bernstein restated a "market perform" rating on shares of Caterpillar in a report on Monday, July 14th. Finally, Citigroup restated a "buy" rating and issued a $420.00 price target (up previously from $370.00) on shares of Caterpillar in a report on Tuesday, June 24th. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $419.33.

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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