Geneos Wealth Management Inc. Increases Stake in Caterpillar Inc. (NYSE:CAT)

Geneos Wealth Management Inc. lifted its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 56.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,351 shares of the industrial products company's stock after purchasing an additional 8,379 shares during the period. Geneos Wealth Management Inc.'s holdings in Caterpillar were worth $7,701,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. McIlrath & Eck LLC grew its holdings in Caterpillar by 3.2% during the 4th quarter. McIlrath & Eck LLC now owns 962 shares of the industrial products company's stock valued at $349,000 after buying an additional 30 shares in the last quarter. Asset Management Group Inc. grew its holdings in Caterpillar by 0.3% during the 4th quarter. Asset Management Group Inc. now owns 10,771 shares of the industrial products company's stock valued at $3,907,000 after buying an additional 32 shares in the last quarter. Summit X LLC grew its holdings in Caterpillar by 3.2% during the 1st quarter. Summit X LLC now owns 1,025 shares of the industrial products company's stock valued at $338,000 after buying an additional 32 shares in the last quarter. Dunhill Financial LLC grew its holdings in Caterpillar by 21.3% during the 4th quarter. Dunhill Financial LLC now owns 205 shares of the industrial products company's stock valued at $75,000 after buying an additional 36 shares in the last quarter. Finally, Silvia Mccoll Wealth Management LLC grew its holdings in Caterpillar by 2.1% during the 1st quarter. Silvia Mccoll Wealth Management LLC now owns 1,752 shares of the industrial products company's stock valued at $578,000 after buying an additional 36 shares in the last quarter. Institutional investors own 70.98% of the company's stock.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CAT shares. Morgan Stanley upgraded shares of Caterpillar from an "underweight" rating to an "equal weight" rating and reduced their price target for the stock from $300.00 to $283.00 in a research report on Wednesday, April 16th. Citigroup restated a "buy" rating and issued a $420.00 price target (up previously from $370.00) on shares of Caterpillar in a research report on Tuesday, June 24th. Bank of America boosted their price target on shares of Caterpillar from $335.00 to $385.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Melius raised shares of Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price objective for the company in a research note on Wednesday, July 9th. Finally, Robert W. Baird lifted their price objective 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. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $419.33.

Caterpillar Stock Down 2.1%

Shares of CAT traded down $9.17 during mid-day trading on Friday, hitting $428.85. 4,027,319 shares of the company traded hands, compared to its average volume of 2,706,497. 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 0.77, a current ratio of 1.32 and a debt-to-equity ratio of 1.43. The company has a market capitalization of $202.01 billion, a PE ratio of 20.90, a price-to-earnings-growth ratio of 2.72 and a beta of 1.38. The business has a 50 day moving average of $383.95 and a 200 day moving average of $353.96.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share 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 business had revenue of $14.25 billion during the quarter, compared to analyst estimates of $14.64 billion. During the same quarter last year, the company posted $5.60 EPS. Caterpillar's quarterly revenue was down 9.8% compared to the same quarter last year. Equities research analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Increases Dividend

The business 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. The ex-dividend date is Monday, July 21st. This represents a $6.04 annualized dividend and a yield of 1.4%. This is a boost from Caterpillar's previous quarterly dividend of $1.41. Caterpillar's payout ratio is currently 29.43%.

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.