Paragon Private Wealth Management LLC Acquires Shares of 612 Caterpillar Inc. $CAT

Key Points

• Paragon Private Wealth Management LLC has acquired 612 shares of Caterpillar Inc., valued at approximately $202,000, during the first quarter of the year.
• Recently, several hedge funds have increased their stakes in Caterpillar, with 70.98% of the stock now owned by institutional investors.
• Caterpillar recently declared a quarterly dividend of $1.51 per share, reflecting an increase from the prior dividend of $1.41, marking a 1.5% yield for shareholders.

Paragon Private Wealth Management LLC bought a new position in Caterpillar Inc. (NYSE:CAT - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 612 shares of the industrial products company's stock, valued at approximately $202,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Investment Management Corp VA ADV purchased a new stake in shares of Caterpillar in the 4th quarter worth about $33,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Caterpillar in the 4th quarter worth about $36,000. Mattson Financial Services LLC purchased a new stake in shares of Caterpillar in the 4th quarter worth about $39,000. Curat Global LLC purchased a new stake in shares of Caterpillar in the 1st quarter worth about $33,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in shares of Caterpillar in the 1st quarter worth about $33,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Caterpillar news, Director Susan C. Schwab sold 2,324 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $410.00, for a total value of $952,840.00. Following the transaction, the director directly owned 6,917 shares in the company, valued at approximately $2,835,970. This trade represents a 25.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jason Kaiser sold 2,161 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $417.70, for a total transaction of $902,649.70. Following the completion of the transaction, the insider owned 8,632 shares in the company, valued at $3,605,586.40. The trade was a 20.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CAT has been the topic of a number of recent research reports. DA Davidson upped their target price on shares of Caterpillar from $331.00 to $388.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Truist Financial upped their target price on shares of Caterpillar from $414.00 to $507.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Sanford C. Bernstein reissued a "market perform" rating on shares of Caterpillar in a research report on Monday, July 14th. Evercore ISI raised shares of Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 price objective on the stock in a research report on Tuesday, August 19th. Finally, Melius Research raised shares of Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 price objective on the stock in a research report on Wednesday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $455.53.

Caterpillar Stock Down 0.8%

Shares of Caterpillar stock opened at $415.81 on Wednesday. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $441.15. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. The company's 50 day moving average is $414.65 and its 200 day moving average is $361.08. The company has a market cap of $194.80 billion, a price-to-earnings ratio of 21.15, a price-to-earnings-growth ratio of 2.53 and a beta of 1.41.

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

Caterpillar Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st were paid a dividend of $1.51 per share. The ex-dividend date was Monday, July 21st. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.5%. This is an increase 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.

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