JFS Wealth Advisors LLC Grows Stock Position in Caterpillar Inc. (NYSE:CAT)

JFS Wealth Advisors LLC boosted its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 79.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,831 shares of the industrial products company's stock after acquiring an additional 2,585 shares during the quarter. JFS Wealth Advisors LLC's holdings in Caterpillar were worth $1,923,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Flagship Wealth Advisors LLC purchased a new position in Caterpillar in the 4th quarter worth approximately $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 purchased a new position in Caterpillar in the 4th quarter worth approximately $27,000. Noble Wealth Management PBC purchased a new position in shares of Caterpillar during the 4th quarter valued at approximately $31,000. Finally, Investment Management Corp VA ADV purchased a new position in shares of Caterpillar during the 4th quarter valued at approximately $33,000. Hedge funds and other institutional investors own 70.98% of the company's stock.

Analysts Set New Price Targets

CAT has been the subject of several research analyst reports. Oppenheimer upgraded Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 target price for the company in a research note on Thursday, May 1st. DA Davidson increased their target price on Caterpillar from $325.00 to $331.00 and gave the company a "neutral" rating in a research note on Monday, May 5th. Citigroup increased their target price on Caterpillar from $320.00 to $370.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Evercore ISI reduced their target price on Caterpillar from $375.00 to $373.00 and set an "in-line" rating for the company in a research note on Monday, May 19th. Finally, Truist Financial reiterated a "buy" rating and set a $396.00 target price (up from $389.00) on shares of Caterpillar in a research note on Thursday, May 1st. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $375.17.

Caterpillar Stock Performance

CAT stock opened at $360.23 on Monday. 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 firm has a market cap of $169.68 billion, a P/E ratio of 17.56, a P/E/G ratio of 2.40 and a beta of 1.37. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $418.50. The stock's 50 day simple moving average is $333.96 and its 200 day simple moving average is $346.44.

Caterpillar (NYSE:CAT - Get Free Report) last issued its 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 company 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. Caterpillar's quarterly revenue was down 9.8% on a year-over-year basis. As a group, equities research analysts predict that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Increases Dividend

The business also recently announced 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 is a positive change from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 annualized dividend and a yield of 1.68%. Caterpillar's dividend payout ratio (DPR) is currently 27.49%.

Insiders Place Their Bets

In other Caterpillar news, Director David Maclennan purchased 375 shares of the stock in a transaction dated Wednesday, May 7th. The shares were bought 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 of the company's stock, valued at approximately $2,133,617.10. This trade represents a 5.97% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.33% of the stock is owned by corporate insiders.

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.

Want to see what other hedge funds are holding CAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Caterpillar Inc. (NYSE:CAT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.