WESCAP Management Group Inc. Decreases Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Key Points

• WESCAP Management Group Inc. reduced its stake in Caterpillar Inc. by 40.7%, now holding 1,600 shares valued at $528,000 according to their latest SEC filing.
• Caterpillar's quarterly earnings report showed an EPS of $4.72, missing estimates by $0.16, with revenue of $16.57 billion, down 0.7% year-over-year.
• The company declared a new quarterly dividend of $1.51 per share, up from the previous $1.41, reflecting a 1.5% dividend yield.

WESCAP Management Group Inc. lowered its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 40.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,600 shares of the industrial products company's stock after selling 1,100 shares during the period. WESCAP Management Group Inc.'s holdings in Caterpillar were worth $528,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of CAT. McIlrath & Eck LLC lifted its position in shares of Caterpillar by 3.2% in the 4th quarter. McIlrath & Eck LLC now owns 962 shares of the industrial products company's stock worth $349,000 after purchasing an additional 30 shares during the period. Asset Management Group Inc. lifted its position in shares of Caterpillar by 0.3% in the 4th quarter. Asset Management Group Inc. now owns 10,771 shares of the industrial products company's stock worth $3,907,000 after purchasing an additional 32 shares during the period. Summit X LLC lifted its position in shares of Caterpillar by 3.2% in the 1st quarter. Summit X LLC now owns 1,025 shares of the industrial products company's stock worth $338,000 after purchasing an additional 32 shares during the period. Menard Financial Group LLC lifted its position in shares of Caterpillar by 1.0% in the 1st quarter. Menard Financial Group LLC now owns 3,174 shares of the industrial products company's stock worth $1,019,000 after purchasing an additional 32 shares during the period. Finally, Dunhill Financial LLC lifted its position in shares of Caterpillar by 21.3% in the 4th quarter. Dunhill Financial LLC now owns 205 shares of the industrial products company's stock worth $75,000 after purchasing an additional 36 shares during the period. Institutional investors own 70.98% of the company's stock.

Caterpillar Stock Performance

Shares of NYSE CAT traded down $10.09 during trading on Friday, reaching $407.41. 3,105,803 shares of the company traded hands, compared to its average volume of 2,761,650. The firm has a 50 day simple moving average of $399.63 and a 200-day simple moving average of $356.18. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $190.86 billion, a PE ratio of 20.72, a P/E/G ratio of 2.47 and a beta of 1.40. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $441.15.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.88 by ($0.16). The company had revenue of $16.57 billion for the quarter, compared to analysts' expectations of $16.14 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The business's revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the business earned $5.99 EPS. Equities research analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current 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 issued a $1.51 dividend. The ex-dividend date of this dividend is Monday, July 21st. This represents a $6.04 dividend on an annualized basis and a yield of 1.5%. This is an increase from Caterpillar's previous quarterly dividend of $1.41. Caterpillar's payout ratio is 30.72%.

Insider Buying and Selling

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of the business's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $417.70, for a total transaction of $902,649.70. Following the completion of the sale, the insider owned 8,632 shares of the company's stock, valued at approximately $3,605,586.40. The trade was a 20.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.33% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Truist Financial increased their price target on shares of Caterpillar from $414.00 to $507.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Barclays increased their price target on shares of Caterpillar from $383.00 to $425.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. Sanford C. Bernstein reiterated a "market perform" rating on shares of Caterpillar in a research note on Monday, July 14th. Oppenheimer increased their price target on shares of Caterpillar from $395.00 to $483.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. Finally, DA Davidson increased their price target on shares of Caterpillar from $331.00 to $388.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $444.00.

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.