Wedmont Private Capital Buys 640 Shares of Caterpillar Inc. (NYSE:CAT)

Wedmont Private Capital grew its stake in shares of Caterpillar Inc. (NYSE:CATFree Report) by 11.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,474 shares of the industrial products company’s stock after buying an additional 640 shares during the quarter. Wedmont Private Capital’s holdings in Caterpillar were worth $2,408,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CAT. Partnership Wealth Management LLC bought a new position in Caterpillar in the 4th quarter valued at approximately $26,000. Richardson Financial Services Inc. acquired a new position in Caterpillar in the 4th quarter valued at approximately $27,000. Gilfoyle & Co LLC bought a new position in shares of Caterpillar during the fourth quarter valued at $30,000. Vima LLC acquired a new position in shares of Caterpillar during the fourth quarter worth $30,000. Finally, Pineridge Advisors LLC bought a new stake in shares of Caterpillar in the fourth quarter worth $36,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. TD Cowen raised their target price on Caterpillar from $338.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Truist Financial began coverage on Caterpillar in a research note on Thursday, March 14th. They issued a “buy” rating and a $390.00 price objective on the stock. The Goldman Sachs Group increased their target price on shares of Caterpillar from $357.00 to $408.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. JPMorgan Chase & Co. boosted their price target on shares of Caterpillar from $385.00 to $435.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. Finally, HSBC increased their price objective on shares of Caterpillar from $330.00 to $360.00 and gave the stock a “hold” rating in a research report on Tuesday, April 30th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $323.35.

Get Our Latest Stock Report on Caterpillar

Caterpillar Stock Down 0.5 %

CAT stock traded down $1.68 during trading on Friday, reaching $327.45. 1,636,062 shares of the stock were exchanged, compared to its average volume of 2,623,175. Caterpillar Inc. has a twelve month low of $223.76 and a twelve month high of $382.01. The firm’s 50 day moving average is $344.06 and its 200 day moving average is $325.59. The company has a current ratio of 1.35, a quick ratio of 0.83 and a debt-to-equity ratio of 1.41. The firm has a market cap of $160.14 billion, a P/E ratio of 14.85, a price-to-earnings-growth ratio of 1.66 and a beta of 1.14.

Caterpillar (NYSE:CATGet Free Report) last posted its earnings results on Thursday, April 25th. The industrial products company reported $5.60 earnings per share for the quarter, beating analysts’ consensus estimates of $5.12 by $0.48. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. The company had revenue of $15.80 billion for the quarter, compared to analyst estimates of $16.07 billion. As a group, research analysts forecast that Caterpillar Inc. will post 21.84 EPS for the current year.

Caterpillar Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Monday, July 22nd will be paid a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.72%. This is a boost from Caterpillar’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Monday, July 22nd. Caterpillar’s payout ratio is presently 23.48%.

Caterpillar announced that its board has initiated a share repurchase plan on Wednesday, June 12th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to repurchase up to 12.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In related news, Director David Maclennan bought 500 shares of Caterpillar stock in a transaction dated Friday, May 3rd. The stock was purchased at an average cost of $337.39 per share, with a total value of $168,695.00. Following the transaction, the director now directly owns 5,738 shares of the company’s stock, valued at $1,935,943.82. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director David Maclennan purchased 500 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were purchased at an average price of $337.39 per share, with a total value of $168,695.00. Following the transaction, the director now directly owns 5,738 shares of the company’s stock, valued at $1,935,943.82. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Lange Bob De sold 21,847 shares of Caterpillar stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $356.90, for a total value of $7,797,194.30. Following the completion of the sale, the insider now directly owns 71,115 shares of the company’s stock, valued at approximately $25,380,943.50. The disclosure for this sale can be found here. 0.33% of the stock is owned by insiders.

Caterpillar Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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