Trek Financial LLC Increases Stock Holdings in Caterpillar Inc. $CAT

Key Points

• Trek Financial LLC boosted its Caterpillar stake by 143.5% in the fourth quarter, ending with 10,642 shares valued at about $6.1 million.
• Caterpillar reported strong quarterly results, with EPS of $5.54 beating estimates and revenue of $17.42 billion topping forecasts; revenue rose 22.2% year over year.
• The company also announced a quarterly dividend of $1.51 per share, while analysts remain broadly positive with a consensus rating of Moderate Buy and an average price target of $911.77.

Trek Financial LLC increased its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 143.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,642 shares of the industrial products company's stock after buying an additional 6,271 shares during the period. Trek Financial LLC's holdings in Caterpillar were worth $6,096,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CAT. Torren Management LLC purchased a new position in shares of Caterpillar during the 4th quarter valued at approximately $27,000. Marquette Asset Management LLC lifted its holdings in Caterpillar by 1,060.0% in the 3rd quarter. Marquette Asset Management LLC now owns 58 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 53 shares in the last quarter. IFS Advisors LLC purchased a new position in Caterpillar in the 4th quarter valued at $31,000. Rialto Wealth Management LLC lifted its holdings in Caterpillar by 47.4% in the 4th quarter. Rialto Wealth Management LLC now owns 56 shares of the industrial products company's stock valued at $32,000 after purchasing an additional 18 shares in the last quarter. Finally, Noble Wealth Management PBC lifted its holdings in Caterpillar by 140.0% in the 4th quarter. Noble Wealth Management PBC now owns 60 shares of the industrial products company's stock valued at $34,000 after purchasing an additional 35 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company's stock.

Caterpillar Stock Up 3.1%

NYSE CAT opened at $925.54 on Tuesday. Caterpillar Inc. has a 52 week low of $336.24 and a 52 week high of $931.35. The company has a quick ratio of 0.81, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. The business's fifty day simple moving average is $761.80 and its 200-day simple moving average is $670.30. The firm has a market cap of $426.30 billion, a PE ratio of 46.07, a P/E/G ratio of 1.80 and a beta of 1.63.

Caterpillar (NYSE:CAT - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The industrial products company reported $5.54 EPS for the quarter, topping the consensus estimate of $4.65 by $0.89. Caterpillar had a return on equity of 48.21% and a net margin of 13.33%.The business had revenue of $17.42 billion for the quarter, compared to analyst estimates of $16.53 billion. During the same quarter in the previous year, the firm earned $4.25 EPS. The company's quarterly revenue was up 22.2% compared to the same quarter last year. As a group, equities analysts anticipate that Caterpillar Inc. will post 24.21 earnings per share for the current year.

Caterpillar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 19th. Investors of record on Monday, April 20th will be given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, April 20th. Caterpillar's dividend payout ratio (DPR) is presently 30.06%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Robert W. Baird raised their price objective on Caterpillar from $940.00 to $1,165.00 and gave the company an "outperform" rating in a report on Friday, May 1st. Weiss Ratings restated a "buy (b-)" rating on shares of Caterpillar in a report on Friday. Williams Trading set a $825.00 price objective on Caterpillar in a report on Tuesday, March 10th. Jefferies Financial Group raised their price objective on Caterpillar from $900.00 to $1,045.00 and gave the company a "buy" rating in a report on Friday, May 1st. Finally, Argus lifted their price target on Caterpillar from $820.00 to $990.00 and gave the stock a "buy" rating in a report on Tuesday, May 5th. Sixteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Caterpillar presently has an average rating of "Moderate Buy" and an average price target of $911.77.

Insider Activity

In related news, insider Jason Kaiser sold 5,642 shares of the firm's stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $883.03, for a total transaction of $4,982,055.26. Following the completion of the sale, the insider directly owned 9,594 shares of the company's stock, valued at approximately $8,471,789.82. This trade represents a 37.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Lange Bob De sold 24,222 shares of the firm's stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $922.92, for a total value of $22,354,968.24. Following the sale, the insider directly owned 86,029 shares of the company's stock, valued at $79,397,884.68. The trade was a 21.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 75,734 shares of company stock worth $67,054,613. 0.33% of the stock is currently owned by corporate insiders.

Caterpillar Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company's product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.