Sharpepoint LLC Invests $218,000 in Caterpillar Inc. (NYSE:CAT)

Sharpepoint LLC bought a new position in Caterpillar Inc. (NYSE:CAT - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 710 shares of the industrial products company's stock, valued at approximately $218,000.

Other large investors have also recently added to or reduced their stakes in the company. Pacific Point Advisors LLC bought a new position in Caterpillar during the 4th quarter worth $579,000. Brighton Jones LLC increased its position in Caterpillar by 51.5% during the 4th quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company's stock worth $2,688,000 after purchasing an additional 2,519 shares in the last quarter. Proficio Capital Partners LLC lifted its stake 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 during the last quarter. AlphaQuest LLC grew its stake in shares of Caterpillar by 196.7% during the fourth quarter. AlphaQuest LLC now owns 1,733 shares of the industrial products company's stock worth $629,000 after buying an additional 1,149 shares during the last quarter. Finally, Davis R M Inc. increased its holdings in shares of Caterpillar by 6.6% during the fourth quarter. Davis R M Inc. now owns 3,838 shares of the industrial products company's stock worth $1,392,000 after buying an additional 237 shares in the last quarter. Institutional investors own 70.98% of the company's stock.

Insider Transactions at Caterpillar

In other news, Director David Maclennan acquired 375 shares of the firm's stock in a transaction on Wednesday, May 7th. The stock was purchased at an average price of $320.70 per share, for a total transaction of $120,262.50. Following the purchase, the director owned 6,653 shares in the company, valued at approximately $2,133,617.10. This represents a 5.97% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.33% of the company's stock.

Wall Street Analysts Forecast Growth

CAT has been the topic of a number of recent research reports. Citigroup reissued a "buy" rating and set a $420.00 price target (up from $370.00) on shares of Caterpillar in a research note on Tuesday, June 24th. Melius Research upgraded shares of Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price target for the company in a research report on Wednesday. Evercore ISI decreased their price objective on Caterpillar from $375.00 to $373.00 and set an "in-line" rating for the company in a report on Monday, May 19th. DA Davidson lifted their target price on Caterpillar from $325.00 to $331.00 and gave the stock a "neutral" rating in a report on Monday, May 5th. Finally, Truist Financial raised their price objective on Caterpillar from $396.00 to $414.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $404.64.

Caterpillar Stock Up 1.5%

Shares of CAT traded up $6.04 during trading hours on Thursday, hitting $408.22. The stock had a trading volume of 3,382,685 shares, compared to its average volume of 2,533,871. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $418.50. The firm has a market capitalization of $192.29 billion, a P/E ratio of 19.57, a price-to-earnings-growth ratio of 2.67 and a beta of 1.38. The firm has a 50 day simple moving average of $357.26 and a 200-day simple moving average of $347.63. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.32 and a quick ratio of 0.77.

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 analysts' consensus estimates of $4.35 by ($0.10). Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. The firm had revenue of $14.25 billion during the quarter, compared to analyst estimates of $14.64 billion. During the same period last year, the business posted $5.60 EPS. The company's revenue was down 9.8% on a year-over-year basis. Sell-side analysts predict that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st will be paid a dividend of $1.51 per share. The ex-dividend date of this dividend is Monday, July 21st. This represents a $6.04 dividend on an annualized basis and a yield of 1.48%. This is an increase from Caterpillar's previous quarterly dividend of $1.41. Caterpillar's payout ratio is 27.49%.

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.