Clarity Wealth Advisors LLC Acquires New Stake in Caterpillar Inc. (NYSE:CAT)

Clarity Wealth Advisors LLC bought a new position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm bought 1,083 shares of the industrial products company's stock, valued at approximately $357,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Flagship Wealth Advisors LLC acquired a new stake in shares of Caterpillar in the fourth quarter valued at $26,000. Cyrus J. Lawrence LLC bought a new stake in Caterpillar during the 4th quarter worth about $27,000. Investment Management Corp VA ADV acquired a new stake in Caterpillar in the 4th quarter valued at about $33,000. Curat Global LLC bought a new position in shares of Caterpillar in the first quarter worth about $33,000. Finally, Redmont Wealth Advisors LLC acquired a new position in shares of Caterpillar during the first quarter worth approximately $33,000. 70.98% of the stock is owned by institutional investors.

Caterpillar Trading Down 0.6%

Caterpillar stock traded down $2.60 during midday trading on Friday, hitting $405.73. 2,072,409 shares of the stock were exchanged, compared to its average volume of 2,530,412. The stock has a market capitalization of $191.12 billion, a PE ratio of 19.77, a P/E/G ratio of 2.70 and a beta of 1.38. The company has a fifty day simple moving average of $360.79 and a two-hundred day simple moving average of $348.06. 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 Inc. has a 52 week low of $267.30 and a 52 week high of $418.50.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share for the quarter, missing analysts' consensus estimates 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 prior year, the business earned $5.60 earnings per share. The company's revenue for the quarter 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 firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st will be issued a $1.51 dividend. This is an increase from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend is Monday, July 21st. Caterpillar's dividend payout ratio is 27.49%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Truist Financial boosted their price objective on shares of Caterpillar from $396.00 to $414.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. Evercore ISI lowered their target price on Caterpillar from $375.00 to $373.00 and set an "in-line" rating for the company in a research note on Monday, May 19th. Robert W. Baird upped their price target on Caterpillar from $395.00 to $422.00 and gave the company an "outperform" rating in a research note on Friday, June 20th. UBS Group upgraded Caterpillar from a "sell" rating to a "neutral" rating and lifted their price objective for the stock from $272.00 to $357.00 in a research report on Friday, May 16th. Finally, Melius upgraded shares of Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 target price on the stock in a research report on Wednesday. Six equities 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's stock. According to data from MarketBeat.com, Caterpillar presently has a consensus rating of "Moderate Buy" and an average target price of $404.64.

Insider Activity at Caterpillar

In other Caterpillar news, Director David Maclennan acquired 375 shares of the business's stock in a transaction dated Wednesday, May 7th. The shares were acquired at an average price of $320.70 per share, for a total transaction of $120,262.50. Following the acquisition, the director directly owned 6,653 shares of the company's stock, valued at approximately $2,133,617.10. This trade represents a 5.97% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.33% of the stock is currently owned by corporate insiders.

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.