Elwood & Goetz Wealth Advisory Group LLC lessened its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 40.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,138 shares of the industrial products company's stock after selling 778 shares during the period. Elwood & Goetz Wealth Advisory Group LLC's holdings in Caterpillar were worth $375,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Cape Investment Advisory Inc. increased its stake in shares of Caterpillar by 6.3% during the 4th quarter. Cape Investment Advisory Inc. now owns 471 shares of the industrial products company's stock worth $171,000 after purchasing an additional 28 shares in the last quarter. Carrera Capital Advisors increased its stake in shares of Caterpillar by 2.5% during the 4th quarter. Carrera Capital Advisors now owns 1,238 shares of the industrial products company's stock worth $449,000 after purchasing an additional 30 shares in the last quarter. BBR Partners LLC increased its stake in shares of Caterpillar by 0.7% during the 4th quarter. BBR Partners LLC now owns 4,162 shares of the industrial products company's stock worth $1,510,000 after purchasing an additional 30 shares in the last quarter. McIlrath & Eck LLC increased its stake in shares of Caterpillar by 3.2% during the 4th quarter. McIlrath & Eck LLC now owns 962 shares of the industrial products company's stock worth $349,000 after purchasing an additional 30 shares in the last quarter. Finally, Rakuten Securities Inc. increased its stake in shares of Caterpillar by 20.3% during the 4th quarter. Rakuten Securities Inc. now owns 184 shares of the industrial products company's stock worth $67,000 after purchasing an additional 31 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company's stock.
Caterpillar Stock Up 0.1%
Shares of NYSE CAT opened at $360.23 on Monday. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $418.50. The company has a market cap of $169.68 billion, a P/E ratio of 17.56, a P/E/G ratio of 2.40 and a beta of 1.37. The company has a current ratio of 1.32, a quick ratio of 0.77 and a debt-to-equity ratio of 1.43. The stock has a fifty day moving average price of $333.96 and a 200 day moving average price of $346.44.
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 (EPS) for the quarter, missing the consensus estimate of $4.35 by ($0.10). The company had revenue of $14.25 billion during the quarter, compared to analyst estimates of $14.64 billion. Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. The firm's revenue for the quarter was down 9.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.60 earnings per share. Research analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal 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 given a $1.51 dividend. 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 yield of 1.68%. The ex-dividend date of this dividend is Monday, July 21st. Caterpillar's dividend payout ratio is presently 27.49%.
Insider Buying and Selling at Caterpillar
In related news, Director David Maclennan purchased 375 shares of Caterpillar stock in a transaction dated Wednesday, May 7th. The shares were acquired at an average price of $320.70 per share, with a total value of $120,262.50. Following the completion of the transaction, the director now owns 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.33% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
CAT has been the subject of several analyst reports. UBS Group upgraded Caterpillar from a "sell" rating to a "neutral" rating and boosted their price target for the company from $272.00 to $357.00 in a report on Friday, May 16th. Evercore ISI cut their price target on Caterpillar from $375.00 to $373.00 and set an "in-line" rating for the company in a report on Monday, May 19th. DA Davidson boosted their price target on Caterpillar from $325.00 to $331.00 and gave the company a "neutral" rating in a report on Monday, May 5th. Morgan Stanley upgraded Caterpillar from an "underweight" rating to an "equal weight" rating and cut their price target for the company from $300.00 to $283.00 in a report on Wednesday, April 16th. Finally, Oppenheimer upgraded Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 price target for the company in a report on Thursday, May 1st. Six investment 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. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $375.17.
Read Our Latest Analysis on Caterpillar
About Caterpillar
(
Free Report)
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.
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