LFG Wealth Partners LLC Invests $1.31 Million in Caterpillar Inc. $CAT

Key Points

• LFG Wealth Partners initiated a new position in Caterpillar during the fourth quarter, buying 2,293 shares worth about $1.31 million.
• Caterpillar’s latest quarterly results topped expectations, with EPS of $5.54 versus $4.65 expected and revenue of $17.42 billion, up 22.2% year over year.
• The company also raised its quarterly dividend to $1.63 per share, while analysts remain broadly positive with a Moderate Buy consensus and a target price of $933.27.

LFG Wealth Partners LLC purchased a new stake in Caterpillar Inc. (NYSE:CAT - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,293 shares of the industrial products company's stock, valued at approximately $1,314,000.

A number of other large investors have also recently bought and sold shares of CAT. Torren Management LLC acquired a new position in shares of Caterpillar in the 4th quarter valued at approximately $27,000. Frazier Financial Advisors LLC increased its stake in Caterpillar by 220.0% in the fourth quarter. Frazier Financial Advisors LLC now owns 48 shares of the industrial products company's stock valued at $28,000 after acquiring an additional 33 shares during the last quarter. IFS Advisors LLC acquired a new position in Caterpillar during the fourth quarter valued at approximately $31,000. Cornerstone Financial Management LLC bought a new stake in Caterpillar during the fourth quarter worth $32,000. Finally, Rialto Wealth Management LLC lifted its stake in Caterpillar by 47.4% during the fourth quarter. Rialto Wealth Management LLC now owns 56 shares of the industrial products company's stock worth $32,000 after purchasing an additional 18 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Robert W. Baird lifted their price target on Caterpillar from $940.00 to $1,165.00 and gave the company an "outperform" rating in a research note on Friday, May 1st. Argus lifted their target price on Caterpillar from $820.00 to $990.00 and gave the company a "buy" rating in a research report on Tuesday, May 5th. Morgan Stanley set a $915.00 target price on Caterpillar and gave the stock an "equal weight" rating in a research note on Friday, May 1st. Truist Financial set a $1,043.00 target price on shares of Caterpillar in a report on Friday, May 1st. Finally, Williams Trading set a $825.00 price target on shares of Caterpillar in a research note on Tuesday, March 10th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $933.27.

Caterpillar Price Performance

Shares of CAT opened at $933.46 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. The stock has a market cap of $429.94 billion, a PE ratio of 46.46, a PEG ratio of 1.80 and a beta of 1.59. Caterpillar Inc. has a 12-month low of $356.96 and a 12-month high of $946.83. The business has a 50-day simple moving average of $856.17 and a two-hundred day simple moving average of $730.40.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The industrial products company reported $5.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.65 by $0.89. Caterpillar had a return on equity of 48.21% and a net margin of 13.33%.The company had revenue of $17.42 billion during the quarter, compared to the consensus estimate of $16.53 billion. During the same quarter in the prior year, the firm posted $4.25 earnings per share. The firm's revenue was up 22.2% compared to the same quarter last year. Analysts anticipate that Caterpillar Inc. will post 24.62 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Monday, July 20th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Monday, July 20th. This is a positive change from Caterpillar's previous quarterly dividend of $1.51. Caterpillar's payout ratio is 30.06%.

Insider Buying and Selling at Caterpillar

In other news, insider Denise C. Johnson sold 12,605 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $907.91, for a total value of $11,444,205.55. Following the completion of the sale, the insider directly owned 49,825 shares of the company's stock, valued at $45,236,615.75. This represents a 20.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Anthony D. Fassino sold 16,283 shares of Caterpillar stock in a transaction on Monday, May 11th. The stock was sold at an average price of $916.80, for a total transaction of $14,928,254.40. Following the transaction, the insider directly owned 46,041 shares in the company, valued at $42,210,388.80. This represents a 26.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 95,773 shares of company stock worth $87,642,635. 0.33% of the stock is currently owned by corporate insiders.

Caterpillar Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company's product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management 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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.