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Linscomb Wealth Inc. Has $499,000 Position in Caterpillar Inc. (NYSE:CAT)

Caterpillar logo with Industrials background

Key Points

  • Linscomb Wealth Inc. has significantly reduced its holdings in Caterpillar Inc., lowering its shares by 48% to 1,514 stocks, worth approximately $499,000 as of the latest quarter.
  • Major hedge funds like GAMMA Investing LLC and Pacer Advisors Inc. have increased their positions in Caterpillar dramatically, with GAMMA raising its stake by over 43,447% during the first quarter.
  • The company recently announced a quarterly dividend increase, raising it to $1.51 per share, with a dividend yield of 1.5% and an annualized dividend of $6.04.
  • Want stock alerts on Caterpillar? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Linscomb Wealth Inc. lowered its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 48.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,514 shares of the industrial products company's stock after selling 1,399 shares during the quarter. Linscomb Wealth Inc.'s holdings in Caterpillar were worth $499,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of CAT. GAMMA Investing LLC raised its position in shares of Caterpillar by 43,447.3% during the first quarter. GAMMA Investing LLC now owns 3,730,259 shares of the industrial products company's stock worth $1,230,239,000 after purchasing an additional 3,721,693 shares during the period. Pacer Advisors Inc. raised its position in Caterpillar by 2,723.1% in the 1st quarter. Pacer Advisors Inc. now owns 1,414,280 shares of the industrial products company's stock valued at $466,430,000 after buying an additional 1,364,183 shares during the last quarter. Nuveen LLC acquired a new stake in Caterpillar in the 1st quarter valued at approximately $391,788,000. Capital Research Global Investors raised its position in Caterpillar by 69.3% in 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 buying an additional 1,196,861 shares during the last quarter. Finally, Northern Trust Corp raised its position in Caterpillar by 11.8% in the 4th quarter. Northern Trust Corp now owns 6,847,330 shares of the industrial products company's stock valued at $2,483,937,000 after buying an additional 724,477 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on Caterpillar from $475.00 to $520.00 and gave the company an "overweight" rating in a research report on Wednesday, August 6th. Truist Financial lifted their target price on Caterpillar from $414.00 to $507.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Sanford C. Bernstein reissued a "market perform" rating on shares of Caterpillar in a research report on Monday, July 14th. Morgan Stanley raised Caterpillar from an "underweight" rating to an "equal weight" rating and lowered their price target for the stock from $300.00 to $283.00 in a research report on Wednesday, April 16th. Finally, Evercore ISI lowered their price target on Caterpillar from $375.00 to $373.00 and set an "in-line" rating on the stock in a research report on Monday, May 19th. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Caterpillar presently has a consensus rating of "Moderate Buy" and a consensus price target of $444.00.

Read Our Latest Stock Report on Caterpillar

Caterpillar Stock Performance

CAT opened at $408.40 on Tuesday. The business has a fifty day simple moving average of $394.65 and a 200 day simple moving average of $355.11. The company has a market capitalization of $191.32 billion, a PE ratio of 20.77, a price-to-earnings-growth ratio of 2.47 and a beta of 1.40. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $441.15.

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

Caterpillar Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st will be given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Monday, July 21st. This is a positive change from Caterpillar's previous quarterly dividend of $1.41. Caterpillar's dividend payout ratio is currently 30.72%.

Caterpillar Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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