Petredis Investment Advisors LLC Takes Position in Caterpillar Inc. (NYSE:CAT)

Petredis Investment Advisors LLC bought a new position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 7,868 shares of the industrial products company's stock, valued at approximately $2,595,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Caterpillar by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 46,809,540 shares of the industrial products company's stock worth $16,980,629,000 after purchasing an additional 284,366 shares during the period. Geode Capital Management LLC raised its stake in Caterpillar by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 10,449,770 shares of the industrial products company's stock worth $3,790,841,000 after buying an additional 236,315 shares during the period. Fisher Asset Management LLC grew its position in Caterpillar by 1.4% in the 4th quarter. Fisher Asset Management LLC now owns 9,081,775 shares of the industrial products company's stock valued at $3,294,505,000 after purchasing an additional 129,143 shares during the period. Northern Trust Corp increased its position in shares of Caterpillar by 11.8% during the fourth quarter. Northern Trust Corp now owns 6,847,330 shares of the industrial products company's stock worth $2,483,937,000 after acquiring an additional 724,477 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Caterpillar in the fourth quarter worth approximately $2,184,364,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Price Performance

Shares of Caterpillar stock traded down $4.17 during trading hours on Friday, reaching $356.79. The company's stock had a trading volume of 1,609,485 shares, compared to its average volume of 2,570,866. The stock has a market cap of $168.06 billion, a P/E ratio of 16.17, a P/E/G ratio of 1.87 and a beta of 1.37. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. The firm has a 50 day moving average price of $325.40 and a 200-day moving average price of $348.98. Caterpillar Inc. has a one year low of $267.30 and a one year high of $418.50.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share for the quarter, missing analysts' consensus estimates of $4.35 by ($0.10). The company had revenue of $14.25 billion for the quarter, compared to the consensus estimate of $14.64 billion. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. The company's quarterly revenue was down 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.60 EPS. On average, analysts predict that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st will be given a $1.51 dividend. This is a boost from Caterpillar's previous quarterly dividend of $1.41. The ex-dividend date of this dividend is Monday, July 21st. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.69%. Caterpillar's dividend payout ratio (DPR) is presently 27.49%.

Analyst Ratings Changes

A number of analysts recently commented on CAT shares. 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. Evercore ISI cut their price target on Caterpillar from $375.00 to $373.00 and set an "in-line" rating for the company in a report on Monday, May 19th. Bank of America upped their target price on shares of Caterpillar from $335.00 to $385.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Oppenheimer raised Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 price target on the stock in a report on Thursday, May 1st. Finally, UBS Group raised shares of Caterpillar from a "sell" rating to a "neutral" rating and lifted their price objective for the stock from $272.00 to $357.00 in a report on Friday, May 16th. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Caterpillar currently has an average rating of "Moderate Buy" and an average price target of $372.92.

Insider Buying and Selling

In other news, Director David Maclennan acquired 375 shares of the business's stock in a transaction on Wednesday, May 7th. The stock was bought at an average price of $320.70 per share, with a total value of $120,262.50. Following the completion of the acquisition, the director now owns 6,653 shares of the company's stock, valued at approximately $2,133,617.10. This represents a 5.97% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.33% of the stock is owned by company insiders.

About Caterpillar

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.