Turtle Creek Wealth Advisors LLC Buys 5,650 Shares of Caterpillar Inc. (NYSE:CAT)

Turtle Creek Wealth Advisors LLC grew its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 27.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,945 shares of the industrial products company's stock after purchasing an additional 5,650 shares during the quarter. Caterpillar comprises about 1.3% of Turtle Creek Wealth Advisors LLC's investment portfolio, making the stock its 19th biggest position. Turtle Creek Wealth Advisors LLC's holdings in Caterpillar were worth $8,557,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CAT. Proficio Capital Partners LLC boosted its holdings in Caterpillar by 38.3% in the 4th quarter. Proficio Capital Partners LLC now owns 2,218 shares of the industrial products company's stock valued at $805,000 after purchasing an additional 614 shares during the period. Victrix Investment Advisors acquired a new stake in shares of Caterpillar during the 4th quarter worth about $2,090,000. Pacific Point Advisors LLC acquired a new stake in shares of Caterpillar during the 4th quarter worth about $579,000. Wealth Enhancement Advisory Services LLC increased its position in shares of Caterpillar by 18.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 191,640 shares of the industrial products company's stock worth $63,202,000 after purchasing an additional 30,070 shares in the last quarter. Finally, Liberty Square Wealth Partners LLC increased its position in shares of Caterpillar by 5.8% during the 1st 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 in the last quarter. Institutional investors own 70.98% of the company's stock.

Caterpillar Trading Up 1.3%

Caterpillar stock traded up $5.34 during midday trading on Thursday, hitting $418.22. 2,444,533 shares of the stock were exchanged, compared to its average volume of 2,517,392. The company has a fifty day simple moving average of $367.85 and a two-hundred day simple moving average of $349.43. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $419.90. The stock has a market capitalization of $197.00 billion, a PE ratio of 20.38, a P/E/G ratio of 2.73 and a beta of 1.38. The company has a quick ratio of 0.77, a current ratio of 1.32 and a debt-to-equity ratio of 1.43.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share 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 for the quarter, compared to the consensus estimate of $14.64 billion. During the same period in the previous year, the business earned $5.60 EPS. The firm's revenue was down 9.8% compared to the same quarter last year. Equities research analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

The company 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. This is a positive change from Caterpillar's previous quarterly dividend of $1.41. The ex-dividend date is Monday, July 21st. This represents a $6.04 annualized dividend and a yield of 1.44%. Caterpillar's dividend payout ratio (DPR) is presently 27.49%.

Insiders Place Their Bets

In other news, Director David Maclennan acquired 375 shares of Caterpillar stock in a transaction that occurred on Wednesday, May 7th. The shares were acquired at an average price of $320.70 per share, with a total value of $120,262.50. Following the purchase, the director directly owned 6,653 shares of the company's stock, valued at $2,133,617.10. The trade was a 5.97% increase in their ownership of the stock. The acquisition 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 Ratings Changes

A number of equities research analysts have commented on the stock. 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 report on Wednesday, July 9th. Truist Financial increased their price objective on shares of Caterpillar from $396.00 to $414.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. Bank of America increased their price objective on shares of Caterpillar from $335.00 to $385.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Robert W. Baird increased their price objective on shares of Caterpillar from $395.00 to $422.00 and gave the stock an "outperform" rating in a report on Friday, June 20th. Finally, Morgan Stanley raised shares of Caterpillar from an "underweight" rating to an "equal weight" rating and decreased their price objective for the stock from $300.00 to $283.00 in a report on Wednesday, April 16th. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $412.33.

Caterpillar Company 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.