Charles Schwab Investment Management Inc. Buys 15,347 Shares of Caterpillar Inc. (NYSE:CAT)

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Caterpillar Inc. by 0.5% in Q1, bringing its ownership to approximately $1.09 billion, equivalent to 3,304,448 shares.
• Caterpillar recently announced a quarterly dividend increase from $1.41 to $1.51 per share, representing an annualized dividend of $6.04 with a yield of 1.4%.
• Despite reporting EPS of $4.72 in its latest quarterly results—falling short of the consensus estimate—the firm's revenue increased to $16.57 billion, surpassing analyst expectations.

Charles Schwab Investment Management Inc. lifted its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 0.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,304,448 shares of the industrial products company's stock after acquiring an additional 15,347 shares during the period. Charles Schwab Investment Management Inc. owned about 0.69% of Caterpillar worth $1,089,798,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Victrix Investment Advisors acquired a new stake in Caterpillar in the fourth quarter valued at approximately $2,090,000. Pacific Point Advisors LLC acquired a new position in Caterpillar during the 4th quarter valued at $579,000. Wealth Enhancement Advisory Services LLC increased its holdings in 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 buying an additional 30,070 shares during the period. Crestwood Advisors Group LLC increased its holdings in Caterpillar by 3.4% in the 1st quarter. Crestwood Advisors Group LLC now owns 22,689 shares of the industrial products company's stock valued at $7,483,000 after buying an additional 743 shares during the period. Finally, Liberty Square Wealth Partners LLC increased its holdings in Caterpillar by 5.8% in the 1st quarter. Liberty Square Wealth Partners LLC now owns 1,636 shares of the industrial products company's stock valued at $540,000 after buying an additional 90 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. DA Davidson upped their target price on shares of Caterpillar from $331.00 to $388.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Sanford C. Bernstein restated a "market perform" rating on shares of Caterpillar in a research report on Monday, July 14th. Morgan Stanley upgraded shares of Caterpillar from an "underweight" rating to an "equal weight" rating and cut their target price for the company from $300.00 to $283.00 in a research report on Wednesday, April 16th. Truist Financial increased their price target on shares of Caterpillar from $414.00 to $507.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Finally, Bank of America increased their target price on Caterpillar from $460.00 to $495.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Caterpillar currently has an average rating of "Moderate Buy" and a consensus price target of $444.00.

Caterpillar Stock Down 2.1%

Shares of NYSE:CAT traded down $8.76 during trading on Monday, reaching $407.76. 937,841 shares of the stock were exchanged, compared to its average volume of 2,725,223. The firm has a market cap of $191.03 billion, a price-to-earnings ratio of 20.74, a price-to-earnings-growth ratio of 2.47 and a beta of 1.40. The stock has a fifty day moving average of $393.37 and a two-hundred day moving average of $355.11. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $441.15. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.88 by ($0.16). The business had revenue of $16.57 billion during the quarter, compared to the consensus estimate of $16.14 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The firm's revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter last year, the company earned $5.99 EPS. Research 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. Investors of record on Monday, July 21st will be issued 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 of this dividend is Monday, July 21st. This represents a $6.04 dividend on an annualized basis and a yield of 1.5%. Caterpillar's payout ratio is currently 30.72%.

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.