Portside Wealth Group LLC Purchases 759 Shares of Caterpillar Inc. (NYSE:CAT)

Portside Wealth Group LLC boosted its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 20.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,554 shares of the industrial products company's stock after purchasing an additional 759 shares during the period. Portside Wealth Group LLC's holdings in Caterpillar were worth $1,652,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Proficio Capital Partners LLC increased its position in shares of Caterpillar by 38.3% in the fourth quarter. Proficio Capital Partners LLC now owns 2,218 shares of the industrial products company's stock valued at $805,000 after buying an additional 614 shares in the last quarter. Victrix Investment Advisors purchased a new stake in shares of Caterpillar in the fourth quarter worth about $2,090,000. Braun Stacey Associates Inc. lifted its holdings in Caterpillar by 2.8% in the 4th quarter. Braun Stacey Associates Inc. now owns 34,837 shares of the industrial products company's stock worth $12,637,000 after buying an additional 963 shares in the last quarter. Strategic Advisors LLC grew its holdings in Caterpillar by 14.6% during the 4th quarter. Strategic Advisors LLC now owns 5,724 shares of the industrial products company's stock worth $2,076,000 after acquiring an additional 730 shares in the last quarter. Finally, MFG Wealth Management Inc. bought a new position in shares of Caterpillar in the 4th quarter worth about $2,308,000. Institutional investors and hedge funds own 70.98% of the company's stock.

Analyst Ratings Changes

CAT has been the topic of a number of research analyst reports. Wall Street Zen lowered Caterpillar from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Robert W. Baird upgraded Caterpillar from a "neutral" rating to an "outperform" rating and raised their target price for the company from $309.00 to $395.00 in a report on Tuesday, May 13th. Bank of America upped their price target on Caterpillar from $335.00 to $385.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Citigroup upped their target price on Caterpillar from $320.00 to $370.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Finally, DA Davidson lifted their price target on shares of Caterpillar from $325.00 to $331.00 and gave the stock a "neutral" rating in a research note 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 given a strong buy rating to the company's stock. According to MarketBeat.com, Caterpillar has an average rating of "Moderate Buy" and a consensus price target of $372.92.

Caterpillar Price Performance

Shares of CAT stock traded down $0.56 on Thursday, hitting $348.77. 1,752,846 shares of the company's stock were exchanged, compared to its average volume of 2,600,760. The stock has a market cap of $164.28 billion, a P/E ratio of 15.80, a price-to-earnings-growth ratio of 1.87 and a beta of 1.35. 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 company has a 50 day moving average of $319.90 and a 200 day moving average of $350.35. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $418.50.

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

Caterpillar Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Monday, April 21st were given a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date was Monday, April 21st. Caterpillar's payout ratio is 27.49%.

Insider Buying and Selling

In related news, Director David Maclennan purchased 375 shares of the business's stock in a transaction on Wednesday, May 7th. The stock was acquired at an average price of $320.70 per share, for a total transaction of $120,262.50. Following the purchase, the director now owns 6,653 shares of the company's stock, valued at approximately $2,133,617.10. This trade represents a 5.97% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.33% of the stock is owned by company 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.