Jackson Hole Capital Partners LLC Takes Position in Caterpillar Inc. (NYSE:CAT)

Jackson Hole Capital Partners LLC acquired a new position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,983 shares of the industrial products company's stock, valued at approximately $654,000.

Other large investors have also bought and sold shares of the company. Investment Management Corp VA ADV bought a new stake in shares of Caterpillar during the fourth quarter worth about $33,000. Curat Global LLC bought a new stake in Caterpillar during the 1st quarter worth approximately $33,000. Redmont Wealth Advisors LLC acquired a new position in Caterpillar in the 1st quarter valued at approximately $33,000. Quarry LP bought a new position in shares of Caterpillar during the fourth quarter valued at $35,000. Finally, Mpwm Advisory Solutions LLC acquired a new position in shares of Caterpillar during the fourth quarter worth $36,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Director David Maclennan acquired 375 shares of the company's stock in a transaction on Wednesday, May 7th. The shares were purchased at an average cost of $320.70 per share, with a total value of $120,262.50. Following the completion of the purchase, the director owned 6,653 shares of the company's stock, valued at approximately $2,133,617.10. This represents a 5.97% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CAT. Melius upgraded Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price objective for the company in a report on Wednesday, July 9th. JPMorgan Chase & Co. raised their price objective on Caterpillar from $395.00 to $475.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Morgan Stanley upgraded Caterpillar from an "underweight" rating to an "equal weight" rating and reduced their target price for the company from $300.00 to $283.00 in a report on Wednesday, April 16th. Evercore ISI reduced their target price on Caterpillar from $375.00 to $373.00 and set an "in-line" rating on the stock in a report on Monday, May 19th. Finally, Barclays boosted their price target on shares of Caterpillar from $335.00 to $383.00 and gave the stock an "equal weight" rating in a research report on Monday, July 21st. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $419.33.

Caterpillar Stock Up 1.1%

Shares of Caterpillar stock traded up $4.55 during trading on Friday, reaching $434.07. 2,207,764 shares of the company traded hands, compared to its average volume of 2,516,496. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.32 and a quick ratio of 0.77. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $434.87. The company has a 50 day moving average price of $377.02 and a 200-day moving average price of $351.88. The firm has a market capitalization of $204.47 billion, a PE ratio of 21.15, a P/E/G ratio of 2.69 and a beta of 1.38.

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 analysts' consensus estimates of $4.35 by ($0.10). Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. The company 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 earned $5.60 EPS. The firm's revenue was down 9.8% on a year-over-year basis. As a group, equities research analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st will be paid a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.39%. This is a positive change from Caterpillar's previous quarterly dividend of $1.41. The ex-dividend date is Monday, July 21st. Caterpillar's dividend payout ratio (DPR) is 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.