Caterpillar Inc. (NYSE:CAT) Shares Bought by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. increased its stake in Caterpillar by 9.1%, now owning over 3.2 million shares worth approximately $1.06 billion.
• Caterpillar recently announced a quarterly dividend of $1.51 per share, marking a rise from the previous dividend and indicating a 1.4% yield.
• The company reported earnings of $4.72 per share for the last quarter, which fell short of analysts' estimates by $0.16, while revenue increased to $16.57 billion.

Goldman Sachs Group Inc. grew its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 9.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,229,080 shares of the industrial products company's stock after acquiring an additional 268,300 shares during the quarter. Goldman Sachs Group Inc. owned 0.68% of Caterpillar worth $1,064,951,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Victrix Investment Advisors purchased a new stake in Caterpillar in the fourth quarter valued at approximately $2,090,000. Pacific Point Advisors LLC acquired a new stake in Caterpillar during the 4th quarter valued at approximately $579,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Caterpillar by 18.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 191,640 shares of the industrial products company's stock valued at $63,202,000 after acquiring an additional 30,070 shares during the last quarter. Crestwood Advisors Group LLC increased its stake in shares of Caterpillar by 3.4% in the first quarter. Crestwood Advisors Group LLC now owns 22,689 shares of the industrial products company's stock worth $7,483,000 after acquiring an additional 743 shares during the period. Finally, Liberty Square Wealth Partners LLC raised its holdings in shares of Caterpillar by 5.8% during the first quarter. Liberty Square Wealth Partners LLC now owns 1,636 shares of the industrial products company's stock worth $540,000 after purchasing an additional 90 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on CAT. JPMorgan Chase & Co. upped their price target on shares of Caterpillar from $475.00 to $520.00 and gave the company an "overweight" rating in a report on Wednesday. Baird R W upgraded Caterpillar from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. UBS Group upgraded Caterpillar from a "sell" rating to a "neutral" rating and lifted their price target for the company from $272.00 to $357.00 in a research report on Friday, May 16th. Truist Financial boosted their price target on Caterpillar from $414.00 to $507.00 and gave the company a "buy" rating in a report on Wednesday. Finally, Melius raised shares of Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price objective on the stock in a research note on Wednesday, July 9th. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $444.00.

Caterpillar Price Performance

CAT traded down $10.65 during midday trading on Thursday, hitting $417.07. 4,260,195 shares of the company traded hands, compared to its average volume of 2,880,540. The business has a 50 day simple moving average of $391.99 and a two-hundred day simple moving average of $355.63. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $441.15. The company 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 (NYSE:CAT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.88 by ($0.16). The firm had revenue of $16.57 billion during the quarter, compared to analyst estimates of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%. The company's quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.99 earnings per share. On average, equities analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, July 21st will be paid 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 yield of 1.4%. This is a boost from Caterpillar's previous quarterly dividend of $1.41. Caterpillar's dividend payout ratio is currently 29.43%.

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.