Welch Group LLC Acquires 1,156 Shares of Caterpillar Inc. (NYSE:CAT)

Welch Group LLC raised its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 3.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,970 shares of the industrial products company's stock after purchasing an additional 1,156 shares during the period. Welch Group LLC's holdings in Caterpillar were worth $12,518,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Proficio Capital Partners LLC increased its holdings in shares of Caterpillar by 38.3% during the 4th quarter. Proficio Capital Partners LLC now owns 2,218 shares of the industrial products company's stock worth $805,000 after purchasing an additional 614 shares during the period. Victrix Investment Advisors bought a new stake in shares of Caterpillar in the 4th quarter valued at approximately $2,090,000. Braun Stacey Associates Inc. grew its stake in shares of Caterpillar by 2.8% in the 4th quarter. Braun Stacey Associates Inc. now owns 34,837 shares of the industrial products company's stock valued at $12,637,000 after purchasing an additional 963 shares during the period. Strategic Advisors LLC grew its position in Caterpillar by 14.6% in the fourth quarter. Strategic Advisors LLC now owns 5,724 shares of the industrial products company's stock valued at $2,076,000 after acquiring an additional 730 shares during the period. Finally, MFG Wealth Management Inc. bought a new stake in Caterpillar in the fourth quarter valued at $2,308,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Trading Down 1.3%

Caterpillar stock traded down $4.69 during mid-day trading on Friday, hitting $347.10. The stock had a trading volume of 4,866,863 shares, compared to its average volume of 2,617,832. The stock has a 50-day simple moving average of $319.22 and a two-hundred day simple moving average of $351.14. The stock has a market capitalization of $163.50 billion, a PE ratio of 15.73, a P/E/G ratio of 1.87 and a beta of 1.35. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month 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. As a group, sell-side analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Monday, April 21st were paid a $1.41 dividend. The ex-dividend date of this dividend was Monday, April 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.62%. Caterpillar's payout ratio is presently 27.49%.

Insider Buying and Selling

In related news, Director David Maclennan acquired 375 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The stock was acquired at an average cost of $320.70 per share, with a total value of $120,262.50. Following the completion of the purchase, the director now directly owns 6,653 shares in the company, valued at approximately $2,133,617.10. This trade represents a 5.97% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.33% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CAT has been the topic of several analyst reports. Raymond James raised shares of Caterpillar from a "market perform" rating to an "outperform" rating in a report on Monday, February 3rd. JPMorgan Chase & Co. decreased their price objective on shares of Caterpillar from $490.00 to $380.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. 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. Bank of America increased their price target on Caterpillar from $335.00 to $385.00 and gave the stock a "buy" rating in a research report on Friday. Finally, DA Davidson increased their price target on Caterpillar from $325.00 to $331.00 and gave the stock a "neutral" rating in a research report on Monday, May 5th. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $372.92.

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.