Whitaker Myers Wealth Managers LTD. Invests $304,000 in Caterpillar Inc. (NYSE:CAT)

Whitaker Myers Wealth Managers LTD. acquired a new stake in shares of Caterpillar Inc. (NYSE:CAT) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 830 shares of the industrial products company’s stock, valued at approximately $304,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CAT. Southland Equity Partners LLC grew its stake in Caterpillar by 4.0% during the first quarter. Southland Equity Partners LLC now owns 784 shares of the industrial products company’s stock valued at $287,000 after acquiring an additional 30 shares in the last quarter. McIlrath & Eck LLC grew its stake in Caterpillar by 4.4% during the fourth quarter. McIlrath & Eck LLC now owns 789 shares of the industrial products company’s stock valued at $233,000 after acquiring an additional 33 shares in the last quarter. Versant Capital Management Inc grew its stake in Caterpillar by 7.4% during the first quarter. Versant Capital Management Inc now owns 480 shares of the industrial products company’s stock valued at $176,000 after acquiring an additional 33 shares in the last quarter. Lodestar Private Asset Management LLC grew its stake in Caterpillar by 4.4% during the fourth quarter. Lodestar Private Asset Management LLC now owns 830 shares of the industrial products company’s stock valued at $245,000 after acquiring an additional 35 shares in the last quarter. Finally, Desjardins Global Asset Management Inc. grew its stake in Caterpillar by 1.4% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 2,616 shares of the industrial products company’s stock valued at $774,000 after acquiring an additional 35 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CAT has been the subject of a number of recent research reports. HSBC lifted their price target on shares of Caterpillar from $330.00 to $360.00 and gave the stock a “hold” rating in a research note on Tuesday, April 30th. JPMorgan Chase & Co. boosted their price objective on shares of Caterpillar from $385.00 to $435.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. TD Cowen boosted their price target on shares of Caterpillar from $338.00 to $340.00 and gave the company a “buy” rating in a report on Friday, April 26th. Oppenheimer reiterated a “market perform” rating on shares of Caterpillar in a research note on Thursday, April 18th. Finally, The Goldman Sachs Group boosted their price objective on shares of Caterpillar from $357.00 to $408.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $327.13.

Insider Activity

In related news, insider Lange Bob De sold 21,847 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $356.90, for a total value of $7,797,194.30. Following the sale, the insider now owns 71,115 shares of the company’s stock, valued at $25,380,943.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director David Maclennan acquired 500 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were bought at an average price of $337.39 per share, with a total value of $168,695.00. Following the completion of the acquisition, the director now owns 5,738 shares in the company, valued at $1,935,943.82. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Lange Bob De sold 21,847 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $356.90, for a total transaction of $7,797,194.30. Following the sale, the insider now directly owns 71,115 shares in the company, valued at approximately $25,380,943.50. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Caterpillar Price Performance

Shares of NYSE CAT traded up $2.15 during mid-day trading on Monday, reaching $329.99. The company’s stock had a trading volume of 2,447,305 shares, compared to its average volume of 2,676,952. The stock has a 50-day moving average of $342.63 and a two-hundred day moving average of $327.61. The stock has a market capitalization of $161.38 billion, a P/E ratio of 14.90, a P/E/G ratio of 1.69 and a beta of 1.14. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.83 and a current ratio of 1.35. Caterpillar Inc. has a 1-year low of $223.76 and a 1-year high of $382.01.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Thursday, April 25th. The industrial products company reported $5.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.12 by $0.48. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. The firm had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $16.07 billion. On average, equities research analysts anticipate that Caterpillar Inc. will post 21.84 EPS for the current fiscal year.

Caterpillar Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Monday, July 22nd will be paid a $1.41 dividend. This is a positive change from Caterpillar’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Monday, July 22nd. This represents a $5.64 annualized dividend and a dividend yield of 1.71%. Caterpillar’s dividend payout ratio (DPR) is presently 23.48%.

Caterpillar declared that its Board of Directors has approved a share repurchase plan on Wednesday, June 12th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to purchase up to 12.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.