Noesis Capital Mangement Corp Grows Position in Caterpillar Inc. (NYSE:CAT)

Noesis Capital Mangement Corp boosted its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 1.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,461 shares of the industrial products company's stock after buying an additional 769 shares during the quarter. Caterpillar makes up approximately 2.7% of Noesis Capital Mangement Corp's investment portfolio, making the stock its 14th largest position. Noesis Capital Mangement Corp's holdings in Caterpillar were worth $13,674,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Victrix Investment Advisors bought a new position in Caterpillar during the 4th quarter worth approximately $2,090,000. Pacific Point Advisors LLC bought a new stake in shares of Caterpillar in the 4th quarter valued at $579,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of Caterpillar by 18.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 191,640 shares of the industrial products company's stock valued at $63,202,000 after acquiring an additional 30,070 shares in the last quarter. Crestwood Advisors Group LLC increased its stake in shares of Caterpillar by 3.4% in the 1st quarter. Crestwood Advisors Group LLC now owns 22,689 shares of the industrial products company's stock valued at $7,483,000 after acquiring an additional 743 shares in the last quarter. Finally, Liberty Square Wealth Partners LLC increased its stake in shares of Caterpillar by 5.8% in the 1st quarter. Liberty Square Wealth Partners LLC now owns 1,636 shares of the industrial products company's stock valued at $540,000 after acquiring an additional 90 shares in the last quarter. Institutional investors own 70.98% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Melius Research upgraded shares of Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 price objective for the company in a research note on Wednesday, July 9th. Barclays lifted their price target on shares of Caterpillar from $335.00 to $383.00 and gave the company an "equal weight" rating in a research report on Monday, July 21st. DA Davidson lifted their price target on shares of Caterpillar from $331.00 to $388.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Evercore ISI cut their price objective on shares of Caterpillar from $375.00 to $373.00 and set an "in-line" rating on the stock in a report on Monday, May 19th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Caterpillar from $395.00 to $475.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $419.33.

Caterpillar Price Performance

Shares of CAT traded up $4.55 during midday trading on Friday, hitting $434.07. 2,207,764 shares of the company traded hands, compared to its average volume of 2,516,496. The stock has a 50-day moving average of $377.02 and a 200-day moving average of $351.82. Caterpillar Inc. has a one year low of $267.30 and a one year high of $434.87. The firm has a market cap of $204.47 billion, a P/E ratio of 21.15, a PEG ratio of 2.71 and a beta of 1.38. 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 issued its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $4.25 EPS 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 business had revenue of $14.25 billion for the quarter, compared to analysts' expectations of $14.64 billion. During the same period in the previous year, the firm posted $5.60 EPS. The firm's revenue for the quarter was down 9.8% compared to the same quarter last year. As a group, sell-side analysts predict that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st will be issued a dividend of $1.51 per share. This is a positive change from Caterpillar's previous quarterly dividend of $1.41. The ex-dividend date of this dividend is Monday, July 21st. This represents a $6.04 annualized dividend and a dividend yield of 1.39%. Caterpillar's payout ratio is presently 29.43%.

Insider Activity at Caterpillar

In other Caterpillar news, Director David Maclennan acquired 375 shares of the business's stock in a transaction dated Wednesday, May 7th. The stock was bought at an average price of $320.70 per share, with a total value of $120,262.50. Following the completion of the acquisition, the director owned 6,653 shares of the company's stock, valued at $2,133,617.10. This trade represents a 5.97% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.33% of the company's stock.

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.