Lineweaver Wealth Advisors LLC Acquires New Holdings in Caterpillar Inc. (NYSE:CAT)

Lineweaver Wealth Advisors LLC purchased a new position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,583 shares of the industrial products company's stock, valued at approximately $853,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CAT. Vanguard Group Inc. boosted its stake in shares of Caterpillar by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 46,809,540 shares of the industrial products company's stock worth $16,980,629,000 after acquiring an additional 284,366 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Caterpillar by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 10,449,770 shares of the industrial products company's stock worth $3,790,841,000 after acquiring an additional 236,315 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Caterpillar by 11.8% during the 4th quarter. Northern Trust Corp now owns 6,847,330 shares of the industrial products company's stock worth $2,483,937,000 after acquiring an additional 724,477 shares in the last quarter. Norges Bank purchased a new stake in shares of Caterpillar during the 4th quarter worth about $2,184,364,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Caterpillar by 8.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,940,391 shares of the industrial products company's stock worth $1,429,416,000 after acquiring an additional 312,878 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CAT has been the topic of a number of research reports. DA Davidson raised their price target on shares of Caterpillar from $325.00 to $331.00 and gave the company a "neutral" rating in a research note on Monday, May 5th. Truist Financial raised their price target on shares of Caterpillar from $396.00 to $414.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. UBS Group raised shares of Caterpillar from a "sell" rating to a "neutral" rating and raised their price target for the company from $272.00 to $357.00 in a research note on Friday, May 16th. Robert W. Baird raised their price target on shares of Caterpillar from $395.00 to $422.00 and gave the company an "outperform" rating in a research note on Friday, June 20th. Finally, Morgan Stanley raised shares of Caterpillar from an "underweight" rating to an "equal weight" rating and decreased their target price for the stock from $300.00 to $283.00 in a research note on Wednesday, April 16th. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Caterpillar has a consensus rating of "Moderate Buy" and a consensus price target of $412.33.

Insider Activity

In other Caterpillar news, Director David Maclennan purchased 375 shares of Caterpillar stock in a transaction dated Wednesday, May 7th. The shares were bought at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the transaction, the director owned 6,653 shares in the company, valued at $2,133,617.10. This represents a 5.97% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.33% of the company's stock.

Caterpillar Stock Up 1.3%

CAT traded up $5.34 during trading hours on Thursday, reaching $418.22. 2,434,628 shares of the stock traded hands, compared to its average volume of 2,519,523. The firm's fifty day simple moving average is $365.97 and its two-hundred day simple moving average is $349.05. The company has a market cap of $197.00 billion, a price-to-earnings ratio of 20.38, a PEG ratio of 2.68 and a beta of 1.38. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $419.69. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.32 and a quick ratio of 0.77.

Caterpillar (NYSE:CAT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $4.25 EPS for the quarter, missing analysts' consensus estimates of $4.35 by ($0.10). Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. The company had revenue of $14.25 billion for the quarter, compared to the consensus estimate of $14.64 billion. During the same quarter last year, the company earned $5.60 earnings per share. The company's revenue was down 9.8% compared to the same quarter last year. As a group, analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The business 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 dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 1.44%. This is an increase from Caterpillar's previous quarterly dividend of $1.41. The ex-dividend date of this dividend is Monday, July 21st. Caterpillar's dividend payout ratio is 29.43%.

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.