Sharpepoint LLC Makes New Investment in Caterpillar Inc. (NYSE:CAT)

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.

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.

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