Delta Capital Management LLC Acquires 8,880 Shares of Caterpillar Inc. (NYSE:CAT)

Delta Capital Management LLC raised its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 888.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,880 shares of the industrial products company's stock after purchasing an additional 8,880 shares during the period. Caterpillar accounts for approximately 1.3% of Delta Capital Management LLC's holdings, making the stock its 23rd biggest holding. Delta Capital Management LLC's holdings in Caterpillar were worth $3,258,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Proficio Capital Partners LLC lifted its stake in Caterpillar by 38.3% in the fourth quarter. Proficio Capital Partners LLC now owns 2,218 shares of the industrial products company's stock valued at $805,000 after buying an additional 614 shares during the period. Victrix Investment Advisors bought a new position in Caterpillar during the 4th quarter worth approximately $2,090,000. Braun Stacey Associates Inc. grew its holdings in Caterpillar by 2.8% during the fourth quarter. Braun Stacey Associates Inc. now owns 34,837 shares of the industrial products company's stock valued at $12,637,000 after purchasing an additional 963 shares during the period. Strategic Advisors LLC increased its stake in Caterpillar by 14.6% in the fourth quarter. Strategic Advisors LLC now owns 5,724 shares of the industrial products company's stock valued at $2,076,000 after purchasing an additional 730 shares in the last quarter. Finally, MFG Wealth Management Inc. acquired a new stake in Caterpillar in the fourth quarter worth $2,308,000. 70.98% of the stock is owned by institutional investors.

Caterpillar Stock Up 1.4%

CAT stock traded up $5.16 during midday trading on Monday, hitting $362.21. The company's stock had a trading volume of 1,562,127 shares, compared to its average volume of 2,560,402. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $418.50. The stock has a market capitalization of $170.62 billion, a P/E ratio of 16.41, a PEG ratio of 1.87 and a beta of 1.37. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. The company's fifty day moving average price is $327.10 and its 200 day moving average price is $347.86.

Caterpillar (NYSE:CAT - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.35 by ($0.10). The firm had revenue of $14.25 billion for the quarter, compared to the consensus estimate of $14.64 billion. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. The business's revenue was down 9.8% compared to the same quarter last year. During the same period last year, the company posted $5.60 earnings per share. As a group, equities research analysts predict that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st will be issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend is Monday, July 21st. This is a boost from Caterpillar's previous quarterly dividend of $1.41. Caterpillar's payout ratio is currently 29.43%.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Director David Maclennan bought 375 shares of the stock in a transaction dated Wednesday, May 7th. The shares were bought at an average cost of $320.70 per share, with a total value of $120,262.50. Following the completion of the acquisition, the director now owns 6,653 shares of the company's stock, valued at $2,133,617.10. This trade represents a 5.97% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.33% of the company's stock.

Analyst Ratings Changes

CAT has been the subject of a number of recent analyst reports. Evercore ISI lowered their price objective on shares of Caterpillar from $375.00 to $373.00 and set an "in-line" rating for the company in a research report on Monday, May 19th. UBS Group raised Caterpillar from a "sell" rating to a "neutral" rating and boosted their target price for the company from $272.00 to $357.00 in a research note on Friday, May 16th. Truist Financial reiterated a "buy" rating and set a $396.00 price objective (up previously from $389.00) on shares of Caterpillar in a report on Thursday, May 1st. Wall Street Zen cut Caterpillar from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Finally, Citigroup lifted their price target on shares of Caterpillar from $320.00 to $370.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Caterpillar currently has an average rating of "Moderate Buy" and an average target price of $372.92.

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.