Ping Capital Management Inc. Takes $330,000 Position in Caterpillar Inc. (NYSE:CAT)

Ping Capital Management Inc. acquired a new stake in Caterpillar Inc. (NYSE:CAT - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,000 shares of the industrial products company's stock, valued at approximately $330,000.

Other institutional investors also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC boosted its holdings in Caterpillar by 38.3% in the 4th quarter. Proficio Capital Partners LLC now owns 2,218 shares of the industrial products company's stock valued at $805,000 after purchasing an additional 614 shares in the last quarter. Victrix Investment Advisors acquired a new stake in shares of Caterpillar during the 4th quarter valued at approximately $2,090,000. Pacific Point Advisors LLC acquired a new stake in shares of Caterpillar during the 4th quarter valued at approximately $579,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of Caterpillar by 18.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 191,640 shares of the industrial products company's stock valued at $63,202,000 after acquiring an additional 30,070 shares during the period. Finally, Liberty Square Wealth Partners LLC lifted its position in shares of Caterpillar by 5.8% during the 1st quarter. Liberty Square Wealth Partners LLC now owns 1,636 shares of the industrial products company's stock valued at $540,000 after acquiring an additional 90 shares during the period. Hedge funds and other institutional investors own 70.98% of the company's stock.

Insiders Place Their Bets

In other Caterpillar news, Director David Maclennan acquired 375 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The shares were purchased at an average price of $320.70 per share, for a total transaction of $120,262.50. Following the completion of the purchase, the director directly owned 6,653 shares in the company, valued at $2,133,617.10. The trade was a 5.97% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.33% of the stock is currently owned by company insiders.

Caterpillar Stock Down 1.0%

Caterpillar stock traded down $4.19 during trading on Friday, reaching $413.88. 2,525,098 shares of the company's stock were exchanged, compared to its average volume of 2,512,120. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $419.90. 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 firm has a market cap of $194.95 billion, a price-to-earnings ratio of 20.17, a PEG ratio of 2.77 and a beta of 1.38. The company's 50-day moving average is $369.61 and its two-hundred day moving average is $349.78.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $4.25 EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $14.64 billion. During the same quarter in the prior year, the firm earned $5.60 EPS. The business's quarterly revenue was down 9.8% compared to the same quarter last year. On average, analysts predict 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 1.46%. The ex-dividend date is Monday, July 21st. This is a positive change from Caterpillar's previous quarterly dividend of $1.41. Caterpillar's dividend payout ratio is 27.49%.

Analyst Ratings Changes

A number of research firms have recently issued reports on CAT. Truist Financial lifted their price target on shares of Caterpillar from $396.00 to $414.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. Melius Research upgraded shares of Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 price target for the company in a research report on Wednesday, July 9th. Evercore ISI reduced their price target 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. Bank of America lifted their price target on shares of Caterpillar from $335.00 to $385.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Finally, Morgan Stanley upgraded Caterpillar from an "underweight" rating to an "equal weight" rating and cut their price objective for the stock from $300.00 to $283.00 in a research report on Wednesday, April 16th. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $412.33.

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.