Sharpepoint LLC acquired a new position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 710 shares of the industrial products company's stock, valued at approximately $218,000.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Proficio Capital Partners LLC grew its position 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 buying an additional 614 shares in the last quarter. Victrix Investment Advisors bought a new position in shares of Caterpillar during the 4th quarter valued at about $2,090,000. Pacific Point Advisors LLC bought a new position in shares of Caterpillar during the 4th quarter valued at about $579,000. Wealth Enhancement Advisory Services LLC boosted 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 purchasing an additional 30,070 shares in the last quarter. Finally, Liberty Square Wealth Partners LLC boosted 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 purchasing an additional 90 shares in the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In other Caterpillar news, Director David Maclennan acquired 375 shares of the stock in a transaction dated Wednesday, May 7th. The shares were bought at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the completion of the acquisition, the director directly owned 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 Securities & Exchange Commission, which can be accessed through the SEC website. 0.33% of the stock is owned by company insiders.
Caterpillar Stock Up 2.1%
Shares of NYSE CAT opened at $402.71 on Thursday. The firm has a market capitalization of $189.69 billion, a PE ratio of 19.63, a price-to-earnings-growth ratio of 2.62 and a beta of 1.38. The company has a current ratio of 1.32, a quick ratio of 0.77 and a debt-to-equity ratio of 1.43. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $418.50. The firm's 50-day moving average is $357.26 and its 200-day moving average is $347.63.
Caterpillar (NYSE:CAT - Get Free Report) last issued its earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.35 by ($0.10). The business had revenue of $14.25 billion during the quarter, compared to the consensus estimate of $14.64 billion. Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. The firm's revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period last year, the business posted $5.60 EPS. Equities analysts expect 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 issued a $1.51 dividend. The ex-dividend date is Monday, July 21st. This is an increase from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.50%. Caterpillar's dividend payout ratio (DPR) is 27.49%.
Wall Street Analysts Forecast Growth
Several research analysts have commented on CAT shares. Robert W. Baird raised their target price on shares of Caterpillar from $395.00 to $422.00 and gave the stock an "outperform" rating in a report on Friday, June 20th. Truist Financial increased their price target on shares of Caterpillar from $396.00 to $414.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. Morgan Stanley raised shares of Caterpillar from an "underweight" rating to an "equal weight" rating and cut their price objective for the company from $300.00 to $283.00 in a research report on Wednesday, April 16th. Melius Research raised shares of Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price objective on the stock in a research report on Wednesday. Finally, Citigroup reaffirmed a "buy" rating and set a $420.00 price objective (up previously from $370.00) on shares of Caterpillar in a research report on Tuesday, June 24th. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $397.86.
Get Our Latest Stock Analysis on CAT
Caterpillar Profile
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding CAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Caterpillar Inc. (NYSE:CAT - Free Report).

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