1,473 Shares in Caterpillar Inc. (NYSE:CAT) Bought by Koss Olinger Consulting LLC

Key Points

• Koss Olinger Consulting LLC has acquired a new position in Caterpillar Inc. by purchasing 1,473 shares valued at approximately $486,000.
• Several brokerages have raised their price targets for Caterpillar, with Barclays setting a new target of $425.00, reflecting growing optimism among analysts regarding the stock's performance.
• Caterpillar also announced an increase in its quarterly dividend to $1.51 per share, highlighting a dividend yield of 1.5% and a payout ratio of 30.72%.

Koss Olinger Consulting LLC bought a new stake in Caterpillar Inc. (NYSE:CAT - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,473 shares of the industrial products company's stock, valued at approximately $486,000.

A number of other hedge funds also recently modified their holdings of CAT. Investment Management Corp VA ADV purchased a new stake in shares of Caterpillar during the fourth quarter worth $33,000. Quarry LP purchased a new stake in shares of Caterpillar during the fourth quarter worth $35,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Caterpillar during the fourth quarter worth $36,000. Mattson Financial Services LLC purchased a new stake in shares of Caterpillar during the fourth quarter worth $39,000. Finally, Curat Global LLC purchased a new stake in shares of Caterpillar during the first quarter worth $33,000. Hedge funds and other institutional investors own 70.98% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. UBS Group upgraded Caterpillar from a "sell" rating to a "neutral" rating and increased their price objective for the stock from $272.00 to $357.00 in a report on Friday, May 16th. Melius upgraded Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 target price on the stock in a report on Wednesday, July 9th. Bank of America raised their target price on Caterpillar from $460.00 to $495.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. DA Davidson raised their target price on Caterpillar from $331.00 to $388.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Finally, Citigroup raised their target price on Caterpillar from $460.00 to $500.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Caterpillar currently has an average rating of "Moderate Buy" and a consensus target price of $444.00.

Caterpillar Stock Up 0.5%

Shares of NYSE:CAT traded up $2.22 during midday trading on Wednesday, hitting $414.93. 489,570 shares of the company's stock were exchanged, compared to its average volume of 2,727,003. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81. The stock has a 50 day moving average price of $395.90 and a 200-day moving average price of $355.51. The company has a market cap of $194.38 billion, a PE ratio of 21.09, a price-to-earnings-growth ratio of 2.42 and a beta of 1.40. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $441.15.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.88 by ($0.16). The firm had revenue of $16.57 billion during the quarter, compared to the consensus estimate of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%. The company's revenue for the quarter was down .7% on a year-over-year basis. During the same period in the previous year, the company posted $5.99 earnings per share. On average, sell-side analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, July 21st will be issued a $1.51 dividend. This is a boost from Caterpillar's previous quarterly dividend of $1.41. The ex-dividend date of this dividend is Monday, July 21st. This represents a $6.04 annualized dividend and a yield of 1.5%. Caterpillar's payout ratio is 30.72%.

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.