6,074 Shares in Caterpillar Inc. (NYSE:CAT) Bought by Solidarity Wealth LLC

Key Points

• Solidarity Wealth LLC made a significant investment of approximately $2 million in Caterpillar Inc. by acquiring 6,074 shares as reported in their 13F filing.
• Caterpillar recently reported quarterly earnings miss with an EPS of $4.25, falling short of the expected $4.35, and stated that their revenue was down 9.8% year-over-year.
• The company announced an increase in its quarterly dividend to $1.51, which equates to an annual dividend of $6.04, representing a yield of 1.39%.

Solidarity Wealth LLC bought a new stake in Caterpillar Inc. (NYSE:CAT - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,074 shares of the industrial products company's stock, valued at approximately $2,003,000.

Several other hedge funds also recently modified their holdings of CAT. GAMMA Investing LLC lifted its holdings in Caterpillar by 43,447.3% during the first quarter. GAMMA Investing LLC now owns 3,730,259 shares of the industrial products company's stock worth $1,230,239,000 after acquiring an additional 3,721,693 shares during the period. Pacer Advisors Inc. increased its position in shares of Caterpillar by 2,723.1% during the 1st quarter. Pacer Advisors Inc. now owns 1,414,280 shares of the industrial products company's stock valued at $466,430,000 after purchasing an additional 1,364,183 shares during the last quarter. Capital Research Global Investors boosted its holdings in shares of Caterpillar by 69.3% in the 4th quarter. Capital Research Global Investors now owns 2,924,054 shares of the industrial products company's stock worth $1,060,730,000 after buying an additional 1,196,861 shares during the last quarter. Northern Trust Corp grew its position in Caterpillar by 11.8% during the fourth quarter. Northern Trust Corp now owns 6,847,330 shares of the industrial products company's stock valued at $2,483,937,000 after buying an additional 724,477 shares during the period. Finally, APG Asset Management N.V. increased its holdings in Caterpillar by 1,278.6% during the fourth quarter. APG Asset Management N.V. now owns 440,641 shares of the industrial products company's stock worth $154,367,000 after buying an additional 408,678 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CAT shares. DA Davidson increased their target price on shares of Caterpillar from $331.00 to $388.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Barclays increased their price objective on Caterpillar from $335.00 to $383.00 and gave the company an "equal weight" rating in a report on Monday, July 21st. Bank of America boosted their target price on Caterpillar from $335.00 to $385.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Truist Financial increased their price target on Caterpillar from $396.00 to $414.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Finally, Baird R W upgraded Caterpillar from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $419.33.

Insiders Place Their Bets

In other news, Director David Maclennan acquired 375 shares of the business's stock in a transaction dated Wednesday, May 7th. The stock was purchased at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the acquisition, the director owned 6,653 shares of the company's stock, valued at $2,133,617.10. This trade represents a 5.97% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.33% of the stock is owned by insiders.

Caterpillar Price Performance

Shares of NYSE:CAT traded up $4.79 on Thursday, hitting $438.91. The company's stock had a trading volume of 1,778,264 shares, compared to its average volume of 2,680,808. The company has a market capitalization of $206.74 billion, a PE ratio of 21.40, a PEG ratio of 2.69 and a beta of 1.38. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.32 and a quick ratio of 0.77. The company has a 50-day simple moving average of $382.09 and a 200 day simple moving average of $353.44. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $441.15.

Caterpillar (NYSE:CAT - Get Free Report) last announced 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 company had revenue of $14.25 billion for 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 company's revenue for the quarter was down 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.60 earnings per share. Sell-side analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, July 21st will be given a $1.51 dividend. The ex-dividend date is Monday, July 21st. This is a positive change from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 annualized dividend and a yield of 1.38%. Caterpillar's payout ratio is 29.43%.

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.