Denver PWM LLC Takes $1.37 Million Position in Caterpillar Inc. (NYSE:CAT)

Key Points

• Denver PWM LLC made a new investment in Caterpillar Inc., purchasing 4,150 shares valued at approximately $1.37 million during the first quarter.
• Multiple institutional investors have significantly increased their stakes in Caterpillar, with Pacer Advisors increasing their holdings by an astounding 2,723.1%.
• Analysts have upgraded Caterpillar’s stock ratings, with price targets ranging from $357.00 to $483.00, indicating strong expected growth for the company.

Denver PWM LLC bought a new position in Caterpillar Inc. (NYSE:CAT - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,150 shares of the industrial products company's stock, valued at approximately $1,369,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pacer Advisors Inc. raised its position in shares of Caterpillar by 2,723.1% during the 1st quarter. Pacer Advisors Inc. now owns 1,414,280 shares of the industrial products company's stock worth $466,430,000 after purchasing an additional 1,364,183 shares during the period. Westover Capital Advisors LLC boosted its stake in Caterpillar by 10.1% during the 1st quarter. Westover Capital Advisors LLC now owns 4,676 shares of the industrial products company's stock valued at $1,542,000 after purchasing an additional 430 shares in the last quarter. Assetmark Inc. boosted its stake in shares of Caterpillar by 4.3% during the 1st quarter. Assetmark Inc. now owns 19,614 shares of the industrial products company's stock worth $6,469,000 after acquiring an additional 812 shares in the last quarter. Nicholas Wealth LLC. boosted its position in shares of Caterpillar by 16.5% in the first quarter. Nicholas Wealth LLC. now owns 3,560 shares of the industrial products company's stock worth $1,174,000 after buying an additional 504 shares during the period. Finally, Cetera Investment Advisers raised its holdings in shares of Caterpillar by 0.7% during the first quarter. Cetera Investment Advisers now owns 235,195 shares of the industrial products company's stock worth $77,567,000 after acquiring an additional 1,671 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company's stock.

Caterpillar Price Performance

Shares of NYSE:CAT traded up $4.55 during trading on Friday, reaching $434.07. The company had a trading volume of 2,207,764 shares, compared to its average volume of 2,516,496. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $434.87. The stock has a market capitalization of $204.47 billion, a P/E ratio of 21.15, a price-to-earnings-growth ratio of 2.71 and a beta of 1.38. The company has a fifty day moving average of $377.02 and a two-hundred day moving average of $351.82. The company has a current ratio of 1.32, a quick ratio of 0.77 and a debt-to-equity ratio of 1.43.

Caterpillar (NYSE:CAT - Get Free Report) last posted its earnings results on Wednesday, April 30th. The industrial products company reported $4.25 EPS for the quarter, missing the consensus estimate of $4.35 by ($0.10). Caterpillar had a return on equity of 53.77% and a net margin of 15.71%. The company had revenue of $14.25 billion during the quarter, compared to analysts' expectations of $14.64 billion. During the same period in the prior year, the business posted $5.60 earnings per share. The company's revenue for the quarter was down 9.8% on a year-over-year basis. Equities research analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st will be paid a dividend of $1.51 per share. This is a positive change from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date is Monday, July 21st. Caterpillar's dividend payout ratio (DPR) is currently 29.43%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Truist Financial raised their price target on Caterpillar from $396.00 to $414.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. Robert W. Baird lifted their target price on Caterpillar from $395.00 to $422.00 and gave the stock an "outperform" rating in a research report on Friday, June 20th. UBS Group raised Caterpillar from a "sell" rating to a "neutral" rating and lifted their price objective for the company from $272.00 to $357.00 in a report on Friday, May 16th. Morgan Stanley raised Caterpillar from an "underweight" rating to an "equal weight" rating and decreased their price objective for the company from $300.00 to $283.00 in a report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. lifted their price objective on Caterpillar from $395.00 to $475.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $419.33.

Insiders Place Their Bets

In related news, Director David Maclennan purchased 375 shares of the company's stock in a transaction dated Wednesday, May 7th. The shares were purchased at an average price of $320.70 per share, with a total value of $120,262.50. Following the acquisition, the director directly owned 6,653 shares in the company, valued at $2,133,617.10. The trade was a 5.97% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.33% of the company's stock.

Caterpillar 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.