Caterpillar Inc. (NYSE:CAT) Shares Acquired by Jericho Financial LLP

Jericho Financial LLP lifted its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 7.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,276 shares of the industrial products company's stock after buying an additional 877 shares during the quarter. Caterpillar makes up approximately 3.2% of Jericho Financial LLP's portfolio, making the stock its 17th biggest position. Jericho Financial LLP's holdings in Caterpillar were worth $4,379,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Flagship Wealth Advisors LLC purchased a new stake in Caterpillar during the fourth quarter worth approximately $26,000. Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Caterpillar during the 4th quarter worth approximately $27,000. Cyrus J. Lawrence LLC acquired a new position in shares of Caterpillar in the 4th quarter valued at $27,000. Noble Wealth Management PBC purchased a new position in shares of Caterpillar in the 4th quarter valued at $31,000. Finally, Investment Management Corp VA ADV acquired a new stake in Caterpillar during the 4th quarter worth $33,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director David Maclennan acquired 375 shares of Caterpillar stock in a transaction that occurred on Wednesday, May 7th. The stock was purchased at an average cost of $320.70 per share, with a total value of $120,262.50. Following the completion of the acquisition, the director now owns 6,653 shares in the company, valued at $2,133,617.10. This trade represents a 5.97% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.33% of the company's stock.

Caterpillar Stock Performance

NYSE CAT traded up $7.03 during trading hours on Tuesday, hitting $373.26. 3,833,227 shares of the stock were exchanged, compared to its average volume of 2,540,202. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $418.50. The stock has a 50-day moving average of $335.33 and a 200 day moving average of $346.24. The company has a market cap of $175.82 billion, a price-to-earnings ratio of 18.19, a price-to-earnings-growth ratio of 2.44 and a beta of 1.37. The company has a quick ratio of 0.77, a current ratio of 1.32 and a debt-to-equity ratio of 1.43.

Caterpillar (NYSE:CAT - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 EPS for the quarter, missing the consensus estimate of $4.35 by ($0.10). Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. The business had revenue of $14.25 billion during the quarter, compared to analyst estimates of $14.64 billion. During the same period in the prior year, the business earned $5.60 earnings per share. The firm's quarterly revenue was down 9.8% compared to the same quarter last year. As a group, equities research analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st will be paid a dividend of $1.51 per share. The ex-dividend date is Monday, July 21st. 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 dividend yield of 1.62%. Caterpillar's dividend payout ratio is 27.49%.

Wall Street Analysts Forecast Growth

CAT has been the topic of several research reports. Wall Street Zen lowered Caterpillar from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Evercore ISI dropped their price target on Caterpillar from $375.00 to $373.00 and set an "in-line" rating on the stock in a research note on Monday, May 19th. Bank of America boosted their price objective on Caterpillar from $335.00 to $385.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Citigroup lifted their target price on shares of Caterpillar from $370.00 to $420.00 and gave the company a "buy" rating in a report on Tuesday. Finally, Baird R W upgraded shares of Caterpillar from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Caterpillar currently has a consensus rating of "Moderate Buy" and an average target price of $380.83.

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.