McMill Wealth Management bought a new stake in Caterpillar Inc. (NYSE:CAT - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,311 shares of the industrial products company's stock, valued at approximately $476,000.
Other hedge funds have also made changes to their positions in the company. Flagship Wealth Advisors LLC purchased a new position in shares of Caterpillar in the 4th quarter valued at approximately $26,000. Halbert Hargrove Global Advisors LLC purchased a new position in Caterpillar in the 4th quarter valued at $27,000. Cyrus J. Lawrence LLC purchased a new position in Caterpillar in the 4th quarter valued at $27,000. Noble Wealth Management PBC purchased a new position in Caterpillar during the 4th quarter worth $31,000. Finally, Investment Management Corp VA ADV acquired a new position in shares of Caterpillar during the fourth quarter worth about $33,000. Institutional investors and hedge funds own 70.98% of the company's stock.
Analysts Set New Price Targets
Several research firms have issued reports on CAT. Bank of America dropped their target price on Caterpillar from $452.00 to $414.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. Oppenheimer upgraded shares of Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 price target for the company in a report on Thursday, May 1st. Citigroup boosted their target price on Caterpillar from $320.00 to $370.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. UBS Group raised Caterpillar from a "sell" rating to a "neutral" rating and lifted their price target for the stock from $272.00 to $357.00 in a research note on Friday, May 16th. Finally, DA Davidson increased their target price on Caterpillar from $325.00 to $331.00 and gave the company a "neutral" rating in a report on Monday, May 5th. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $375.33.
Read Our Latest Analysis on Caterpillar
Caterpillar Stock Down 0.2%
NYSE:CAT traded down $0.78 during trading hours on Wednesday, hitting $350.74. The stock had a trading volume of 621,603 shares, compared to its average volume of 2,628,622. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $418.50. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40. The company has a market cap of $165.21 billion, a PE ratio of 15.89, a price-to-earnings-growth ratio of 1.87 and a beta of 1.35. The business has a 50 day simple moving average of $318.65 and a two-hundred day simple moving average of $351.78.
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). The company had revenue of $14.25 billion for the quarter, compared to the consensus estimate of $14.64 billion. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. The company's revenue was down 9.8% compared to the same quarter last year. During the same quarter last year, the company earned $5.60 earnings per share. Analysts predict that Caterpillar Inc. will post 19.86 EPS for the current year.
Caterpillar Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Monday, April 21st were issued a $1.41 dividend. The ex-dividend date of this dividend was Monday, April 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.61%. Caterpillar's dividend payout ratio is currently 27.49%.
Insider Buying and Selling
In related news, Director David Maclennan acquired 375 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The shares were acquired at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the completion of the purchase, the director now directly owns 6,653 shares in the company, valued at $2,133,617.10. This trade represents a 5.97% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.33% of the company's stock.
About Caterpillar
(
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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