Eagle Global Advisors LLC Raises Stock Position in Caterpillar Inc. (NYSE:CAT)

Key Points

• Eagle Global Advisors LLC increased its stake in Caterpillar Inc. by 6.2%, acquiring an additional 1,880 shares in the first quarter, bringing its total holdings to 32,022 shares worth approximately $10.56 million.
• Several investment firms, including Curat Global LLC and Investment Management Corp VA ADV, have recently purchased new stakes in Caterpillar, contributing to institutional investors owning 70.98% of the company's stock.
• Caterpillar's quarterly earnings revealed an EPS of $4.72, falling short of analysts' expectations, alongside an increase in its dividend from $1.41 to $1.51 per share.

Eagle Global Advisors LLC boosted its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 6.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,022 shares of the industrial products company's stock after purchasing an additional 1,880 shares during the quarter. Eagle Global Advisors LLC's holdings in Caterpillar were worth $10,561,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CAT. McIlrath & Eck LLC grew its stake in Caterpillar by 3.2% in the 4th quarter. McIlrath & Eck LLC now owns 962 shares of the industrial products company's stock valued at $349,000 after acquiring an additional 30 shares during the period. Asset Management Group Inc. lifted its holdings in Caterpillar by 0.3% during the fourth quarter. Asset Management Group Inc. now owns 10,771 shares of the industrial products company's stock valued at $3,907,000 after purchasing an additional 32 shares in the last quarter. Summit X LLC grew its position in shares of Caterpillar by 3.2% in the first quarter. Summit X LLC now owns 1,025 shares of the industrial products company's stock valued at $338,000 after purchasing an additional 32 shares during the period. Menard Financial Group LLC increased its stake in shares of Caterpillar by 1.0% during the first quarter. Menard Financial Group LLC now owns 3,174 shares of the industrial products company's stock worth $1,019,000 after purchasing an additional 32 shares in the last quarter. Finally, Dunhill Financial LLC increased its stake in shares of Caterpillar by 21.3% during the fourth quarter. Dunhill Financial LLC now owns 205 shares of the industrial products company's stock worth $75,000 after purchasing an additional 36 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Caterpillar

In other news, insider Jason Kaiser sold 2,161 shares of the company's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $417.70, for a total value of $902,649.70. Following the transaction, the insider directly owned 8,632 shares in the company, valued at approximately $3,605,586.40. This represents a 20.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.33% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on CAT. Sanford C. Bernstein reiterated a "market perform" rating on shares of Caterpillar in a report on Monday, July 14th. Robert W. Baird raised their target price on Caterpillar from $395.00 to $422.00 and gave the company an "outperform" rating in a research report on Friday, June 20th. Melius Research raised Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 price objective for the company in a research note on Wednesday, July 9th. Melius upgraded Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price objective on the stock in a report on Wednesday, July 9th. Finally, Morgan Stanley raised shares of Caterpillar from an "underweight" rating to an "equal weight" rating and dropped their target price for the stock from $300.00 to $283.00 in a report on Wednesday, April 16th. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $444.00.

Caterpillar Trading Up 0.9%

NYSE:CAT traded up $3.70 on Thursday, hitting $417.40. The stock had a trading volume of 3,672,937 shares, compared to its average volume of 2,759,336. The company has a fifty day moving average price of $397.18 and a two-hundred day moving average price of $355.91. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $441.15. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. The stock has a market cap of $195.54 billion, a price-to-earnings ratio of 21.23, a PEG ratio of 2.46 and a beta of 1.40.

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

Caterpillar Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st will be given a dividend of $1.51 per share. This is a boost from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Monday, July 21st. Caterpillar's dividend payout ratio (DPR) is 30.72%.

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.