Caterpillar Inc. $CAT Shares Purchased by Ethos Financial Group LLC

Key Points

• Ethos Financial Group LLC significantly increased its stake in Caterpillar Inc. by 337.5% during the first quarter, now owning 5,526 shares valued at approximately $1.91 million.
• Caterpillar recently declared a quarterly dividend of $1.51, an increase from the previous $1.41, representing an annualized yield of 1.5%.
• Analysts have upgraded Caterpillar's stock ratings, with several firms raising their price targets significantly, now averaging around $444.00.

Ethos Financial Group LLC lifted its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 337.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,526 shares of the industrial products company's stock after purchasing an additional 4,263 shares during the quarter. Ethos Financial Group LLC's holdings in Caterpillar were worth $1,910,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Investment Management Corp VA ADV purchased a new stake in shares of Caterpillar in the fourth quarter worth about $33,000. Curat Global LLC purchased a new stake in Caterpillar during the 1st quarter worth approximately $33,000. Redmont Wealth Advisors LLC purchased a new stake in Caterpillar during the 1st quarter worth approximately $33,000. Quarry LP purchased a new position in Caterpillar in the 4th quarter worth approximately $35,000. Finally, Mpwm Advisory Solutions LLC purchased a new position in Caterpillar in the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 70.98% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on CAT. Robert W. Baird raised their target price on shares of Caterpillar from $395.00 to $422.00 and gave the stock an "outperform" rating in a research note on Friday, June 20th. Truist Financial boosted their price target on shares of Caterpillar from $414.00 to $507.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Baird R W raised shares of Caterpillar from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. JPMorgan Chase & Co. raised their price objective on shares of Caterpillar from $475.00 to $520.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. Finally, Citigroup raised their target price on shares of Caterpillar from $460.00 to $500.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $450.87.

Insider Buying and Selling

In other news, Director Susan C. Schwab sold 2,324 shares of Caterpillar stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $410.00, for a total transaction of $952,840.00. Following the completion of the sale, the director directly owned 6,917 shares in the company, valued at approximately $2,835,970. This trade represents a 25.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jason Kaiser sold 2,161 shares of Caterpillar stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the sale, the insider owned 8,632 shares of the company's stock, valued at approximately $3,605,586.40. The trade was a 20.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by company insiders.

Caterpillar Stock Performance

Caterpillar stock traded up $19.3870 during mid-day trading on Friday, reaching $437.2770. 1,653,582 shares of the company were exchanged, compared to its average volume of 2,768,293. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. The firm's 50-day simple moving average is $404.15 and its two-hundred day simple moving average is $357.31. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $441.15. The firm has a market cap of $204.86 billion, a PE ratio of 22.24, a price-to-earnings-growth ratio of 2.51 and a beta of 1.40.

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 (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 quarter in the previous year, the firm posted $5.99 EPS. The business's revenue for the quarter was down .7% on a year-over-year basis. Equities analysts predict 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 was paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st were given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Monday, July 21st. This is a positive change from Caterpillar's previous quarterly dividend of $1.41. Caterpillar's payout ratio is 30.72%.

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.