KMG Fiduciary Partners LLC Purchases 4,794 Shares of Caterpillar Inc. (NYSE:CAT)

KMG Fiduciary Partners LLC raised its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 117.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,884 shares of the industrial products company's stock after purchasing an additional 4,794 shares during the quarter. KMG Fiduciary Partners LLC's holdings in Caterpillar were worth $2,930,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of CAT. Norges Bank acquired a new position in Caterpillar during the 4th quarter valued at approximately $2,184,364,000. GAMMA Investing LLC boosted its position in Caterpillar by 43,447.3% during the 1st quarter. GAMMA Investing LLC now owns 3,730,259 shares of the industrial products company's stock valued at $1,230,239,000 after purchasing an additional 3,721,693 shares during the period. Capital Research Global Investors boosted its position in Caterpillar by 69.3% during the 4th quarter. Capital Research Global Investors now owns 2,924,054 shares of the industrial products company's stock valued at $1,060,730,000 after purchasing an additional 1,196,861 shares during the period. Raymond James Financial Inc. acquired a new position in Caterpillar during the 4th quarter valued at approximately $353,231,000. Finally, Proficio Capital Partners LLC boosted its position in Caterpillar by 50,072.7% during the 4th quarter. Proficio Capital Partners LLC now owns 804,770 shares of the industrial products company's stock valued at $291,938,000 after purchasing an additional 803,166 shares during the period. Institutional investors and hedge funds own 70.98% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on CAT shares. JPMorgan Chase & Co. cut their target price on Caterpillar from $490.00 to $380.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Robert W. Baird raised Caterpillar from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $309.00 to $395.00 in a research note on Tuesday, May 13th. Truist Financial reaffirmed a "buy" rating and set a $396.00 target price (up previously from $389.00) on shares of Caterpillar in a research note on Thursday, May 1st. Citigroup lifted 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. Finally, Baird R W raised Caterpillar from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Caterpillar presently has a consensus rating of "Moderate Buy" and an average price target of $372.92.

Insider Buying and Selling at Caterpillar

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

Caterpillar Trading Up 1.3%

Shares of Caterpillar stock traded up $4.52 during trading on Wednesday, hitting $363.09. The company's stock had a trading volume of 2,551,139 shares, compared to its average volume of 2,592,767. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $418.50. The stock has a market cap of $171.03 billion, a price-to-earnings ratio of 16.45, a price-to-earnings-growth ratio of 1.87 and a beta of 1.37. The stock has a 50-day moving average price of $322.25 and a two-hundred day moving average price of $349.19.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings data 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 return on equity of 58.18% and a net margin of 16.65%. The company had revenue of $14.25 billion for the quarter, compared to the consensus estimate of $14.64 billion. During the same period last year, the company earned $5.60 EPS. Caterpillar's revenue for the quarter 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 fiscal year.

Caterpillar Increases Dividend

The company 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 is a positive change from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 annualized dividend and a yield of 1.66%. Caterpillar's dividend payout ratio (DPR) is 27.49%.

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.