Stockman Wealth Management Inc. Purchases 2,031 Shares of Caterpillar Inc. (NYSE:CAT)

Stockman Wealth Management Inc. raised its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 5.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,407 shares of the industrial products company's stock after purchasing an additional 2,031 shares during the period. Caterpillar makes up approximately 1.9% of Stockman Wealth Management Inc.'s holdings, making the stock its 15th biggest position. Stockman Wealth Management Inc.'s holdings in Caterpillar were worth $12,996,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Flagship Wealth Advisors LLC bought a new position in shares of Caterpillar during the 4th quarter worth about $26,000. Halbert Hargrove Global Advisors LLC bought a new position in Caterpillar during the fourth quarter worth about $27,000. Cyrus J. Lawrence LLC acquired a new stake in Caterpillar during the fourth quarter valued at approximately $27,000. Noble Wealth Management PBC bought a new stake in shares of Caterpillar in the 4th quarter valued at approximately $31,000. Finally, Investment Management Corp VA ADV acquired a new position in shares of Caterpillar in the 4th quarter worth approximately $33,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Oppenheimer upgraded Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 price target on the stock in a research report on Thursday, May 1st. Baird R W raised shares of Caterpillar from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 13th. Bank of America lifted their price target on shares of Caterpillar from $335.00 to $385.00 and gave the company a "buy" rating in a report on Friday, May 30th. UBS Group raised shares of Caterpillar from a "sell" rating to a "neutral" rating and upped their price objective for the stock from $272.00 to $357.00 in a research note on Friday, May 16th. Finally, DA Davidson raised their price objective on shares of Caterpillar from $325.00 to $331.00 and gave the stock a "neutral" rating in a report on Monday, May 5th. 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, the company presently has an average rating of "Moderate Buy" and an average target price of $372.92.

Caterpillar Trading Up 1.4%

Shares of CAT traded up $5.16 during trading hours on Monday, hitting $362.21. 1,579,242 shares of the stock traded hands, compared to its average volume of 2,560,404. The business has a fifty day moving average of $327.10 and a 200-day moving average of $347.86. The firm has a market capitalization of $170.62 billion, a PE ratio of 16.41, a price-to-earnings-growth ratio of 1.87 and a beta of 1.37. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $418.50. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40.

Caterpillar (NYSE:CAT - Get Free Report) last issued its earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.35 by ($0.10). The business had revenue of $14.25 billion during the quarter, compared to the consensus estimate of $14.64 billion. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. The firm's revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period last year, the business posted $5.60 EPS. Analysts expect that Caterpillar Inc. will post 19.86 EPS for the current 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 paid a $1.51 dividend. The ex-dividend date is Monday, July 21st. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.67%. This is an increase from Caterpillar's previous quarterly dividend of $1.41. Caterpillar's dividend payout ratio is 29.43%.

Insider Buying and Selling

In related news, Director David Maclennan bought 375 shares of Caterpillar stock in a transaction on Wednesday, May 7th. The shares were purchased at an average price of $320.70 per share, for a total transaction of $120,262.50. Following the completion of the acquisition, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.33% of the stock is owned by insiders.

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.