OneAscent Financial Services LLC Boosts Stake in Caterpillar Inc. (NYSE:CAT)

OneAscent Financial Services LLC boosted its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 114.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 25,710 shares of the industrial products company's stock after purchasing an additional 13,734 shares during the quarter. OneAscent Financial Services LLC's holdings in Caterpillar were worth $8,494,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CAT. Counterweight Ventures LLC increased its stake in Caterpillar by 3.6% in the first quarter. Counterweight Ventures LLC now owns 4,108 shares of the industrial products company's stock valued at $1,355,000 after purchasing an additional 142 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC increased its stake in Caterpillar by 17.7% in the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 1,373 shares of the industrial products company's stock valued at $453,000 after purchasing an additional 206 shares during the last quarter. Elyxium Wealth LLC acquired a new position in Caterpillar in the first quarter valued at $800,000. 1ST Source Bank increased its stake in Caterpillar by 0.5% in the first quarter. 1ST Source Bank now owns 9,303 shares of the industrial products company's stock valued at $3,068,000 after purchasing an additional 44 shares during the last quarter. Finally, Copperwynd Financial LLC increased its stake in Caterpillar by 22.6% in the first quarter. Copperwynd Financial LLC now owns 2,504 shares of the industrial products company's stock valued at $826,000 after purchasing an additional 462 shares during the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CAT shares. UBS Group raised Caterpillar from a "sell" rating to a "neutral" rating and upped their target price for the stock from $272.00 to $357.00 in a research report on Friday, May 16th. Citigroup reissued a "buy" rating and issued a $420.00 price target (up previously from $370.00) on shares of Caterpillar in a report on Tuesday, June 24th. Truist Financial increased their price target on Caterpillar from $396.00 to $414.00 and gave the company a "buy" rating in a report on Monday, June 23rd. Baird R W raised Caterpillar from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 13th. Finally, Melius Research raised Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 price target for the company in a report on Wednesday, July 9th. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Caterpillar has an average rating of "Moderate Buy" and a consensus target price of $412.33.

Insider Buying and Selling at Caterpillar

In related news, Director David Maclennan purchased 375 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were bought at an average price of $320.70 per share, with a total value of $120,262.50. Following 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 position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.33% of the stock is owned by insiders.

Caterpillar Trading Down 1.0%

Shares of NYSE:CAT opened at $413.88 on Friday. The business's 50 day simple moving average is $369.61 and its 200 day simple moving average is $349.69. 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 Inc. has a 1 year low of $267.30 and a 1 year high of $419.90. The company has a market capitalization of $194.95 billion, a P/E ratio of 20.17, a P/E/G ratio of 2.74 and a beta of 1.38.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $14.25 billion during the quarter, compared to the consensus estimate of $14.64 billion. Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. The firm's revenue was down 9.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.60 earnings per share. On average, research analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st will be paid a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date is Monday, July 21st. This is an increase from Caterpillar's previous quarterly dividend of $1.41. Caterpillar's payout ratio is presently 27.49%.

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.

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