Parr Mcknight Wealth Management Group LLC Invests $734,000 in Caterpillar Inc. (NYSE:CAT)

Parr Mcknight Wealth Management Group LLC bought a new position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 2,022 shares of the industrial products company's stock, valued at approximately $734,000.

Other large investors also recently modified their holdings of the company. Flagship Wealth Advisors LLC acquired a new stake in shares of Caterpillar during the 4th quarter worth $26,000. Halbert Hargrove Global Advisors LLC acquired a new stake in Caterpillar in the fourth quarter valued at about $27,000. Cyrus J. Lawrence LLC acquired a new stake in Caterpillar in the fourth quarter valued at about $27,000. Noble Wealth Management PBC acquired a new stake in Caterpillar in the fourth quarter valued at about $31,000. Finally, Investment Management Corp VA ADV acquired a new stake in Caterpillar in the fourth quarter valued at about $33,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Trading Up 2.3%

Shares of CAT stock traded up $7.97 during trading hours on Tuesday, hitting $351.36. 2,238,603 shares of the company were exchanged, compared to its average volume of 2,636,514. The firm has a market cap of $165.51 billion, a P/E ratio of 15.92, a P/E/G ratio of 1.87 and a beta of 1.35. 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 1.40, a quick ratio of 0.89 and a current ratio of 1.42. The company has a 50 day simple moving average of $318.35 and a two-hundred day simple moving average of $351.79.

Caterpillar (NYSE:CAT - Get Free Report) last announced 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). The company had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.64 billion. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. The business's quarterly revenue was down 9.8% compared to the same quarter last year. During the same period last year, the business earned $5.60 EPS. Equities analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Monday, April 21st were given a $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 1.61%. The ex-dividend date was Monday, April 21st. Caterpillar's payout ratio is currently 27.49%.

Analysts Set New Price Targets

CAT has been the subject of several research reports. Robert W. Baird upgraded Caterpillar from a "neutral" rating to an "outperform" rating and increased their target price for the company from $309.00 to $395.00 in a research report on Tuesday, May 13th. UBS Group upgraded Caterpillar from a "sell" rating to a "neutral" rating and increased their target price for the company from $272.00 to $357.00 in a research report on Friday, May 16th. JPMorgan Chase & Co. dropped their target price on Caterpillar from $490.00 to $380.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Oppenheimer upgraded Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 target price for the company in a research report on Thursday, May 1st. Finally, Citigroup raised their price objective on Caterpillar from $320.00 to $370.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Caterpillar presently has a consensus rating of "Moderate Buy" and a consensus price target of $375.33.

Insider Activity at Caterpillar

In other news, Director David Maclennan acquired 375 shares of the business's stock in a transaction on Wednesday, May 7th. The shares were purchased at an average cost of $320.70 per share, with a total value of $120,262.50. Following the acquisition, the director now directly owns 6,653 shares of the company's stock, valued at $2,133,617.10. The trade was a 5.97% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.33% of the stock is currently owned by insiders.

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.