Caterpillar Inc. (NYSE:CAT) Position Boosted by Merit Financial Group LLC

Merit Financial Group LLC grew its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 5.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,373 shares of the industrial products company's stock after purchasing an additional 1,195 shares during the period. Merit Financial Group LLC's holdings in Caterpillar were worth $7,049,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on CAT shares. Baird R W raised shares of Caterpillar from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 13th. DA Davidson upped their price target on Caterpillar from $325.00 to $331.00 and gave the stock a "neutral" rating in a report on Monday, May 5th. Citigroup lifted their price objective on Caterpillar from $320.00 to $370.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Robert W. Baird raised shares of Caterpillar from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $309.00 to $395.00 in a research note on Tuesday, May 13th. Finally, Bank of America raised their price target on shares of Caterpillar from $335.00 to $385.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $372.92.

Caterpillar Trading Down 0.2%

NYSE:CAT traded down $0.56 on Thursday, hitting $348.77. 1,752,846 shares of the stock were exchanged, compared to its average volume of 2,600,759. The stock has a fifty day moving average of $319.90 and a 200-day moving average of $350.35. The stock has a market cap of $164.28 billion, a PE ratio of 15.80, a PEG ratio of 1.87 and a beta of 1.35. 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 Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $418.50.

Caterpillar (NYSE:CAT - Get Free Report) last posted its earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.35 by ($0.10). The business had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.64 billion. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. 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 company posted $5.60 EPS. As a group, equities analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Monday, April 21st were issued a $1.41 dividend. The ex-dividend date was Monday, April 21st. This represents a $5.64 annualized dividend and a yield of 1.62%. Caterpillar's dividend payout ratio is currently 27.49%.

Insider Buying and Selling

In other Caterpillar news, Director David Maclennan bought 375 shares of the company's stock in a transaction dated Wednesday, May 7th. The shares were acquired at an average cost of $320.70 per share, with a total value of $120,262.50. Following the completion of the transaction, the director now owns 6,653 shares in the company, valued at $2,133,617.10. The trade was a 5.97% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.33% of the stock is currently owned by corporate insiders.

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.