Caterpillar Inc. (NYSE:CAT) Shares Purchased by Smith Salley Wealth Management

Smith Salley Wealth Management raised its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 48.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,617 shares of the industrial products company's stock after acquiring an additional 4,093 shares during the period. Smith Salley Wealth Management's holdings in Caterpillar were worth $4,161,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CAT. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Caterpillar in the 1st quarter valued at $1,047,000. G&S Capital LLC lifted its stake in Caterpillar by 2.4% during the 1st quarter. G&S Capital LLC now owns 7,293 shares of the industrial products company's stock worth $2,405,000 after acquiring an additional 172 shares in the last quarter. Nabity Jensen Investment Management Inc boosted its holdings in Caterpillar by 1.4% during the 1st quarter. Nabity Jensen Investment Management Inc now owns 2,959 shares of the industrial products company's stock valued at $976,000 after acquiring an additional 41 shares during the period. Argent Advisors Inc. increased its stake in Caterpillar by 4.9% during the first quarter. Argent Advisors Inc. now owns 7,319 shares of the industrial products company's stock worth $2,414,000 after purchasing an additional 340 shares during the period. Finally, Arbor Investment Advisors LLC lifted its position in shares of Caterpillar by 58.1% during the first quarter. Arbor Investment Advisors LLC now owns 1,020 shares of the industrial products company's stock worth $336,000 after purchasing an additional 375 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

Wall Street Analyst Weigh In

CAT has been the topic of several recent research reports. Baird R W raised shares of Caterpillar from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. Morgan Stanley raised Caterpillar from an "underweight" rating to an "equal weight" rating and lowered their target price for the stock from $300.00 to $283.00 in a research note on Wednesday, April 16th. Evercore ISI reduced their price target on Caterpillar from $375.00 to $373.00 and set an "in-line" rating on the stock in a research report on Monday, May 19th. Citigroup reissued a "buy" rating and set a $420.00 price objective (up from $370.00) on shares of Caterpillar in a research report on Tuesday, June 24th. Finally, UBS Group upgraded shares of Caterpillar from a "sell" rating to a "neutral" rating and lifted their price target for the stock from $272.00 to $357.00 in a research note on Friday, May 16th. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Caterpillar has a consensus rating of "Moderate Buy" and a consensus target price of $380.83.

Caterpillar Price Performance

Shares of NYSE:CAT traded up $7.26 on Wednesday, reaching $398.18. 2,712,455 shares of the company were exchanged, compared to its average volume of 2,522,303. The company has a 50-day moving average of $346.22 and a 200-day moving average of $346.30. The company has a current ratio of 1.32, a quick ratio of 0.77 and a debt-to-equity ratio of 1.43. The firm has a market cap of $187.56 billion, a price-to-earnings ratio of 19.40, a price-to-earnings-growth ratio of 2.60 and a beta of 1.38. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $418.50.

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

Caterpillar Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Investors 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 yield of 1.52%. This is a boost from Caterpillar's previous quarterly dividend of $1.41. The ex-dividend date of this dividend is Monday, July 21st. Caterpillar's dividend payout ratio is presently 27.49%.

Insiders Place Their Bets

In other Caterpillar news, Director David Maclennan purchased 375 shares of Caterpillar stock in a transaction on Wednesday, May 7th. The shares were bought at an average price of $320.70 per share, with a total value 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 is available through this hyperlink. Company insiders own 0.33% of the company's stock.

Caterpillar Company 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.