Costello Asset Management INC Has $294,000 Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Key Points

• Costello Asset Management INC reduced its stake in Caterpillar Inc. by 39.9%, selling 591 shares during the first quarter, leaving them with 890 shares valued at approximately $294,000.
• Caterpillar has recently declared a quarterly dividend of $1.51 per share, representing an increase from the previous $1.41, with a dividend yield of 1.4%.
• Analysts have varying ratings on Caterpillar stock, with the consensus rating currently at "Moderate Buy" and an average target price of $419.33.

Costello Asset Management INC cut its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 39.9% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 890 shares of the industrial products company's stock after selling 591 shares during the period. Costello Asset Management INC's holdings in Caterpillar were worth $294,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CAT. Pacific Point Advisors LLC acquired a new stake in Caterpillar during the fourth quarter valued at $579,000. Brighton Jones LLC raised its stake in shares of Caterpillar by 51.5% during the 4th quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company's stock worth $2,688,000 after purchasing an additional 2,519 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Caterpillar by 72.2% during the 4th quarter. Wellington Management Group LLP now owns 88,936 shares of the industrial products company's stock valued at $32,262,000 after buying an additional 37,282 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Caterpillar in the 4th quarter valued at approximately $50,000. Finally, Titleist Asset Management LLC increased its holdings in Caterpillar by 20.0% in the fourth quarter. Titleist Asset Management LLC now owns 3,062 shares of the industrial products company's stock worth $1,111,000 after buying an additional 511 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

Caterpillar Stock Performance

CAT stock traded down $10.65 on Thursday, reaching $417.07. 4,260,195 shares of the company were exchanged, compared to its average volume of 2,880,540. The firm has a market capitalization of $196.46 billion, a PE ratio of 21.21, a PEG ratio of 2.69 and a beta of 1.40. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $441.15. The stock's fifty day moving average price is $391.99 and its 200 day moving average price is $355.63. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.77.

Caterpillar (NYSE:CAT - Get Free Report) last released its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share for the quarter, missing the consensus estimate of $4.88 by ($0.16). Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The company had revenue of $16.57 billion during the quarter, compared to the consensus estimate of $16.14 billion. During the same quarter in the previous year, the business posted $5.99 EPS. The firm's quarterly revenue was down .7% on a year-over-year basis. On average, research analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, July 21st will be given a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 1.4%. This is an increase from Caterpillar's previous quarterly dividend of $1.41. The ex-dividend date of this dividend is Monday, July 21st. Caterpillar's dividend payout ratio (DPR) is 29.43%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CAT. Oppenheimer lifted their target price on shares of Caterpillar from $395.00 to $483.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. Robert W. Baird upped 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. Truist Financial increased their target price on shares of Caterpillar from $414.00 to $507.00 and gave the stock a "buy" rating in a research report on Wednesday. DA Davidson boosted their price target on Caterpillar from $331.00 to $388.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Finally, Barclays increased their price objective on Caterpillar from $383.00 to $425.00 and gave the company an "equal weight" rating in a report on Wednesday. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $444.00.

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.