OneAscent Investment Solutions LLC Purchases Shares of 1,078 Caterpillar Inc. (NYSE:CAT)

Key Points

• OneAscent Investment Solutions LLC has invested approximately $356,000 in Caterpillar Inc. by purchasing 1,078 shares during the first quarter.
• Caterpillar has announced an increase in its quarterly dividend to $1.51 per share, up from the previous $1.41, reflecting a strong financial position.
• Analysts have mixed ratings on Caterpillar, with a consensus rating of "Moderate Buy" and a price target of $444.00, indicating varying expectations for future performance.

OneAscent Investment Solutions LLC acquired a new stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,078 shares of the industrial products company's stock, valued at approximately $356,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. McIlrath & Eck LLC grew its position in shares of Caterpillar by 3.2% during the fourth quarter. McIlrath & Eck LLC now owns 962 shares of the industrial products company's stock worth $349,000 after acquiring an additional 30 shares during the last quarter. Asset Management Group Inc. grew its position in shares of Caterpillar by 0.3% during the fourth quarter. Asset Management Group Inc. now owns 10,771 shares of the industrial products company's stock worth $3,907,000 after acquiring an additional 32 shares during the last quarter. Summit X LLC grew its position in shares of Caterpillar by 3.2% during the first quarter. Summit X LLC now owns 1,025 shares of the industrial products company's stock worth $338,000 after acquiring an additional 32 shares during the last quarter. Menard Financial Group LLC grew its position in shares of Caterpillar by 1.0% during the first quarter. Menard Financial Group LLC now owns 3,174 shares of the industrial products company's stock worth $1,019,000 after acquiring an additional 32 shares during the last quarter. Finally, Dunhill Financial LLC grew its position in shares of Caterpillar by 21.3% during the fourth quarter. Dunhill Financial LLC now owns 205 shares of the industrial products company's stock worth $75,000 after acquiring an additional 36 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Jason Kaiser sold 2,161 shares of the business's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $417.70, for a total value of $902,649.70. Following the completion of the transaction, the insider owned 8,632 shares of the company's stock, valued at approximately $3,605,586.40. The trade was a 20.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CAT. Sanford C. Bernstein reiterated a "market perform" rating on shares of Caterpillar in a research report on Monday, July 14th. Melius upgraded shares of Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price objective on the stock in a research report on Wednesday, July 9th. Evercore ISI lowered their price objective on shares of Caterpillar from $375.00 to $373.00 and set an "in-line" rating on the stock in a research report on Monday, May 19th. Citigroup lifted their price objective on shares of Caterpillar from $460.00 to $500.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Finally, Bank of America lifted their price objective on shares of Caterpillar from $460.00 to $495.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Caterpillar currently has an average rating of "Moderate Buy" and an average price target of $444.00.

Caterpillar Price Performance

Shares of NYSE:CAT traded down $10.09 during midday trading on Friday, hitting $407.41. 3,105,803 shares of the stock were exchanged, compared to its average volume of 3,164,488. The stock has a market cap of $190.86 billion, a P/E ratio of 20.72, a PEG ratio of 2.43 and a beta of 1.40. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $441.15. The company has a 50 day moving average price of $399.63 and a 200-day moving average price of $355.92.

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

Caterpillar Increases Dividend

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

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.