Oppenheimer & Co. Inc. Purchases 3,552 Shares of Caterpillar Inc. (NYSE:CAT)

Oppenheimer & Co. Inc. boosted its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 6.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 58,676 shares of the industrial products company's stock after acquiring an additional 3,552 shares during the period. Oppenheimer & Co. Inc.'s holdings in Caterpillar were worth $19,351,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Flagship Wealth Advisors LLC purchased a new stake in shares of Caterpillar in the fourth quarter worth approximately $26,000. Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Caterpillar in the fourth quarter worth approximately $27,000. Cyrus J. Lawrence LLC purchased a new stake in shares of Caterpillar in the fourth quarter worth approximately $27,000. Noble Wealth Management PBC purchased a new stake in shares of Caterpillar in the fourth quarter worth approximately $31,000. Finally, Investment Management Corp VA ADV purchased a new stake in shares of Caterpillar in the fourth quarter worth approximately $33,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Caterpillar news, Director David Maclennan purchased 375 shares of Caterpillar stock in a transaction that occurred on Wednesday, May 7th. The shares were bought at an average price of $320.70 per share, for a total transaction of $120,262.50. Following the acquisition, 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 this link. 0.33% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CAT has been the subject of a number of research analyst reports. Truist Financial reaffirmed a "buy" rating and set a $396.00 price target (up from $389.00) on shares of Caterpillar in a research report on Thursday, May 1st. Citigroup increased their price target on Caterpillar from $320.00 to $370.00 and gave the company a "buy" rating in a research report on Monday, May 5th. Baird R W raised Caterpillar from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. DA Davidson increased their price target on Caterpillar from $325.00 to $331.00 and gave the company a "neutral" rating in a research report on Monday, May 5th. Finally, Oppenheimer raised Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 price target for the company in a research report on Thursday, May 1st. 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. Based on data from MarketBeat, Caterpillar has a consensus rating of "Moderate Buy" and an average price target of $375.17.

Caterpillar Price Performance

Shares of NYSE CAT opened at $360.23 on Monday. The stock has a market cap of $169.68 billion, a PE ratio of 17.56, a price-to-earnings-growth ratio of 2.40 and a beta of 1.37. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $418.50. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.77 and a current ratio of 1.32. The stock has a fifty day moving average of $333.96 and a 200-day moving average of $346.44.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (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 firm had revenue of $14.25 billion for the quarter, compared to the consensus estimate of $14.64 billion. During the same period last year, the firm earned $5.60 EPS. The company's revenue for the quarter was down 9.8% on a year-over-year basis. Equities research analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Increases Dividend

The business 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 1.68%. 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 payout ratio is 27.49%.

Caterpillar 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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