Caterpillar Inc. (NYSE:CAT) Shares Purchased by Golden State Wealth Management LLC

Golden State Wealth Management LLC lifted its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 129.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,625 shares of the industrial products company's stock after buying an additional 4,299 shares during the quarter. Golden State Wealth Management LLC's holdings in Caterpillar were worth $2,516,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Flagship Wealth Advisors LLC acquired a new stake in shares of Caterpillar in the fourth quarter valued at about $26,000. Halbert Hargrove Global Advisors LLC purchased a new position in Caterpillar in the 4th quarter worth approximately $27,000. Cyrus J. Lawrence LLC acquired a new position in shares of Caterpillar during the 4th quarter worth approximately $27,000. Noble Wealth Management PBC purchased a new stake in shares of Caterpillar in the fourth quarter valued at approximately $31,000. Finally, Investment Management Corp VA ADV acquired a new stake in shares of Caterpillar in the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 70.98% of the company's stock.

Caterpillar Stock Performance

Shares of CAT traded up $10.12 during mid-day trading on Thursday, hitting $381.70. 2,571,921 shares of the company's stock were exchanged, compared to its average volume of 2,536,634. The firm has a market capitalization of $179.80 billion, a P/E ratio of 18.08, a P/E/G ratio of 2.47 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 business's 50 day moving average is $338.55 and its two-hundred day moving average is $346.61. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $418.50.

Caterpillar (NYSE:CAT - Get Free Report) last released its 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). Caterpillar had a return on equity of 53.77% and a net margin of 15.71%. The business had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.64 billion. During the same quarter in the previous year, the firm posted $5.60 EPS. The business's revenue for the quarter was down 9.8% on a year-over-year basis. On average, equities analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, July 21st will be paid a $1.51 dividend. This is a boost from Caterpillar's previous quarterly dividend of $1.41. The ex-dividend date is Monday, July 21st. This represents a $6.04 annualized dividend and a dividend yield of 1.58%. Caterpillar's dividend payout ratio (DPR) is 27.49%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CAT. UBS Group upgraded Caterpillar from a "sell" rating to a "neutral" rating and lifted their price target for the stock from $272.00 to $357.00 in a report on Friday, May 16th. DA Davidson boosted their target price on shares of Caterpillar from $325.00 to $331.00 and gave the company a "neutral" rating in a report on Monday, May 5th. Robert W. Baird raised their price target on shares of Caterpillar from $395.00 to $422.00 and gave the stock an "outperform" rating in a report on Friday, June 20th. Oppenheimer upgraded Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 price objective on the stock in a report on Thursday, May 1st. Finally, Baird R W raised Caterpillar from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $380.83.

Insiders Place Their Bets

In related news, Director David Maclennan bought 375 shares of Caterpillar stock in a transaction that occurred on 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 purchase, the director now owns 6,653 shares in the company, valued at $2,133,617.10. This represents a 5.97% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.33% of the stock is currently owned by company insiders.

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.