Caterpillar Inc. (NYSE:CAT) Shares Bought by KMG Fiduciary Partners LLC

KMG Fiduciary Partners LLC lifted its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 117.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,884 shares of the industrial products company's stock after buying an additional 4,794 shares during the quarter. KMG Fiduciary Partners LLC's holdings in Caterpillar were worth $2,930,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of CAT. Flagship Wealth Advisors LLC acquired a new stake in Caterpillar during the 4th quarter valued at approximately $26,000. Halbert Hargrove Global Advisors LLC acquired a new stake in Caterpillar during the 4th quarter valued at approximately $27,000. Cyrus J. Lawrence LLC acquired a new stake in Caterpillar during the 4th quarter valued at approximately $27,000. Noble Wealth Management PBC acquired a new stake in Caterpillar during the 4th quarter valued at approximately $31,000. Finally, Investment Management Corp VA ADV acquired a new stake in Caterpillar during the 4th quarter valued at approximately $33,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Stock Performance

Shares of NYSE CAT traded up $4.53 during mid-day trading on Friday, hitting $353.49. The company had a trading volume of 1,605,025 shares, compared to its average volume of 2,597,720. The stock has a market cap of $166.51 billion, a price-to-earnings ratio of 16.02, a PEG ratio of 1.87 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 company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. The firm's 50 day simple moving average is $320.74 and its two-hundred day simple moving average is $349.69.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly 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). The company had revenue of $14.25 billion during the quarter, compared to the consensus estimate of $14.64 billion. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. The company's revenue for the quarter was down 9.8% on a year-over-year basis. During the same period last year, the business posted $5.60 EPS. As a group, equities research analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Monday, April 21st were issued a $1.41 dividend. This represents a $5.64 annualized dividend and a dividend yield of 1.60%. The ex-dividend date was Monday, April 21st. Caterpillar's dividend payout ratio (DPR) is 27.49%.

Insider Buying and Selling

In other Caterpillar news, Director David Maclennan purchased 375 shares of Caterpillar stock in a transaction on 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 transaction, the director now owns 6,653 shares of the company's stock, valued at $2,133,617.10. The trade was a 5.97% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Oppenheimer upgraded Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 price objective for the company in a research note on Thursday, May 1st. DA Davidson raised their price objective on Caterpillar from $325.00 to $331.00 and gave the company a "neutral" rating in a research note on Monday, May 5th. Wall Street Zen lowered Caterpillar from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. JPMorgan Chase & Co. decreased their target price on Caterpillar from $490.00 to $380.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Finally, Robert W. Baird upgraded Caterpillar from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $309.00 to $395.00 in a research report on Tuesday, May 13th. Six equities research 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 stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $372.92.

Caterpillar Company 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.