Lifeworks Advisors LLC Grows Stake in Caterpillar Inc. (NYSE:CAT)

Lifeworks Advisors LLC boosted its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 13.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,625 shares of the industrial products company's stock after acquiring an additional 1,245 shares during the period. Lifeworks Advisors LLC's holdings in Caterpillar were worth $3,504,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Pacific Point Advisors LLC acquired a new stake in shares of Caterpillar during the fourth quarter worth about $579,000. Brighton Jones LLC increased its holdings in shares of Caterpillar by 51.5% in the fourth quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company's stock valued at $2,688,000 after purchasing an additional 2,519 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Caterpillar during the fourth quarter worth approximately $933,000. Modern Wealth Management LLC lifted its holdings in shares of Caterpillar by 12.3% during the fourth quarter. Modern Wealth Management LLC now owns 9,935 shares of the industrial products company's stock worth $3,608,000 after purchasing an additional 1,087 shares during the period. Finally, Ashton Thomas Securities LLC increased its stake in Caterpillar by 16.5% in the 4th quarter. Ashton Thomas Securities LLC now owns 655 shares of the industrial products company's stock valued at $240,000 after buying an additional 93 shares during the period. Hedge funds and other institutional investors own 70.98% of the company's stock.

Insider Buying and Selling at Caterpillar

In related news, Director David Maclennan purchased 375 shares of the business's stock in a transaction on Wednesday, May 7th. The shares were bought at an average price of $320.70 per share, with a total value of $120,262.50. Following the completion of the purchase, the director directly owned 6,653 shares in the company, valued at approximately $2,133,617.10. This trade represents a 5.97% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 0.33% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CAT. DA Davidson increased their price target on shares of Caterpillar from $331.00 to $388.00 and gave the stock a "neutral" rating in a report on Tuesday. Oppenheimer increased their target price on Caterpillar from $395.00 to $483.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. Baird R W raised Caterpillar from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 13th. Citigroup reaffirmed a "buy" rating and set a $420.00 price objective (up previously from $370.00) on shares of Caterpillar in a report on Tuesday, June 24th. Finally, Evercore ISI reduced 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. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $419.33.

Caterpillar Trading Up 1.1%

Shares of NYSE:CAT traded up $4.55 during trading on Friday, reaching $434.07. The stock had a trading volume of 2,207,764 shares, compared to its average volume of 2,516,496. The company has a quick ratio of 0.77, a current ratio of 1.32 and a debt-to-equity ratio of 1.43. The stock has a market cap of $204.47 billion, a P/E ratio of 21.15, a PEG ratio of 2.69 and a beta of 1.38. The business has a fifty day moving average price of $377.02 and a 200-day moving average price of $351.88. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $434.87.

Caterpillar (NYSE:CAT - Get Free Report) last released its 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 return on equity of 53.77% and a net margin of 15.71%. The firm had revenue of $14.25 billion during the quarter, compared to analysts' expectations of $14.64 billion. During the same period in the previous year, the firm posted $5.60 earnings per share. The firm's revenue was down 9.8% on a year-over-year basis. As a group, analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.39%. This is an increase from Caterpillar's previous quarterly dividend of $1.41. Caterpillar's dividend payout ratio is currently 29.43%.

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.