Parr Mcknight Wealth Management Group LLC Buys Shares of 2,022 Caterpillar Inc. (NYSE:CAT)

Parr Mcknight Wealth Management Group LLC acquired a new stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,022 shares of the industrial products company's stock, valued at approximately $734,000.

A number of other institutional investors and hedge funds also recently modified their holdings of CAT. Flagship Wealth Advisors LLC acquired a new position in shares of Caterpillar during the 4th quarter valued at about $26,000. Halbert Hargrove Global Advisors LLC acquired a new stake in Caterpillar during the 4th quarter worth approximately $27,000. Cyrus J. Lawrence LLC acquired a new stake in Caterpillar during the 4th quarter worth approximately $27,000. Noble Wealth Management PBC acquired a new stake in Caterpillar during the 4th quarter worth approximately $31,000. Finally, Investment Management Corp VA ADV acquired a new stake in Caterpillar during the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 70.98% of the company's stock.

Caterpillar Stock Down 0.5%

Shares of Caterpillar stock traded down $1.83 on Wednesday, hitting $349.68. 1,921,394 shares of the company's stock traded hands, compared to its average volume of 2,633,666. The stock has a market cap of $164.71 billion, a P/E ratio of 15.84, a PEG ratio of 1.87 and a beta of 1.35. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. The firm's 50-day moving average is $318.65 and its 200 day moving average is $351.78. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $418.50.

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

Caterpillar Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Monday, April 21st were paid a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a yield of 1.61%. The ex-dividend date was Monday, April 21st. Caterpillar's dividend payout ratio (DPR) is presently 27.49%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Robert W. Baird raised shares of Caterpillar from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $309.00 to $395.00 in a research report on Tuesday, May 13th. Wedbush raised shares of Caterpillar to an "outperform" rating in a research report on Monday, February 3rd. Truist Financial reissued a "buy" rating and set a $396.00 target price (up previously from $389.00) on shares of Caterpillar in a research report on Thursday, May 1st. Evercore ISI lowered their price objective on shares of Caterpillar from $375.00 to $373.00 and set an "in-line" rating for the company in a research report on Monday, May 19th. Finally, Oppenheimer raised shares of Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 price objective for the company in a research report on Thursday, May 1st. Six 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's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $375.33.

Insider Buying and Selling

In other news, Director David Maclennan acquired 375 shares of Caterpillar stock in a transaction that occurred on Wednesday, May 7th. The shares were purchased at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the completion of the purchase, the director now directly owns 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.33% of the stock is currently owned by company insiders.

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.