Mayport LLC Purchases New Shares in Caterpillar Inc. (NYSE:CAT)

Mayport LLC acquired a new position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 722 shares of the industrial products company's stock, valued at approximately $238,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of CAT. Pacific Point Advisors LLC bought a new stake in Caterpillar in the 4th quarter valued at about $579,000. Brighton Jones LLC raised its position in shares of Caterpillar by 51.5% in the fourth quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company's stock valued at $2,688,000 after buying an additional 2,519 shares in the last quarter. Union Bancaire Privee UBP SA bought a new stake in shares of Caterpillar in the fourth quarter valued at approximately $7,396,000. Strategic Financial Concepts LLC grew its position in Caterpillar by 12.1% during the fourth quarter. Strategic Financial Concepts LLC now owns 702 shares of the industrial products company's stock worth $255,000 after buying an additional 76 shares in the last quarter. Finally, Wealth Alliance increased its stake in Caterpillar by 15.2% during the 4th quarter. Wealth Alliance now owns 1,632 shares of the industrial products company's stock worth $592,000 after acquiring an additional 215 shares during the period. Institutional investors and hedge funds own 70.98% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on CAT shares. UBS Group raised Caterpillar from a "sell" rating to a "neutral" rating and increased their target price for the stock from $272.00 to $357.00 in a report on Friday, May 16th. Truist Financial reiterated a "buy" rating and set a $396.00 price objective (up from $389.00) on shares of Caterpillar in a research note on Thursday, May 1st. Citigroup upped their price target on shares of Caterpillar from $320.00 to $370.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Oppenheimer raised shares of Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 price objective on the stock in a research note on Thursday, May 1st. Finally, DA Davidson upped their target price on Caterpillar from $325.00 to $331.00 and gave the stock a "neutral" rating in a research note on Monday, May 5th. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $375.17.

Caterpillar Trading Up 0.1%

NYSE CAT opened at $360.23 on Friday. The company has a market cap of $169.68 billion, a price-to-earnings ratio of 17.56, a price-to-earnings-growth ratio of 2.40 and a beta of 1.37. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $418.50. The company has a quick ratio of 0.77, a current ratio of 1.32 and a debt-to-equity ratio of 1.43. The business's fifty day moving average is $333.96 and its 200 day moving average is $347.14.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share for the quarter, missing the consensus estimate of $4.35 by ($0.10). Caterpillar had a return on equity of 53.77% and a net margin of 15.71%. The firm 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 firm posted $5.60 earnings per share. The business's revenue for the quarter was down 9.8% on a year-over-year basis. As a group, sell-side analysts expect that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st will be given a $1.51 dividend. This is a boost from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 annualized dividend and a yield of 1.68%. The ex-dividend date is Monday, July 21st. Caterpillar's dividend payout ratio is 27.49%.

Insider Transactions at Caterpillar

In related news, Director David Maclennan bought 375 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was acquired at an average cost of $320.70 per share, with a total value of $120,262.50. Following the transaction, the director now directly owns 6,653 shares in the company, valued at approximately $2,133,617.10. This trade represents a 5.97% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.33% of the stock is owned by company insiders.

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.

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