Inspirion Wealth Advisors LLC Takes Position in Caterpillar Inc. (NYSE:CAT)

Inspirion Wealth Advisors LLC acquired a new stake in Caterpillar Inc. (NYSE:CAT) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 560 shares of the industrial products company’s stock, valued at approximately $205,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CAT. Partnership Wealth Management LLC purchased a new stake in Caterpillar in the fourth quarter worth $26,000. Richardson Financial Services Inc. purchased a new stake in Caterpillar in the fourth quarter worth $27,000. Gilfoyle & Co LLC purchased a new stake in Caterpillar in the fourth quarter worth $30,000. Vima LLC purchased a new stake in Caterpillar in the fourth quarter worth $30,000. Finally, Pineridge Advisors LLC bought a new position in shares of Caterpillar during the 4th quarter worth $36,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Performance

Shares of NYSE:CAT traded down $3.54 during trading on Wednesday, hitting $323.86. The stock had a trading volume of 414,294 shares, compared to its average volume of 2,661,021. Caterpillar Inc. has a 12-month low of $223.76 and a 12-month high of $382.01. The stock has a market capitalization of $158.38 billion, a price-to-earnings ratio of 14.78, a price-to-earnings-growth ratio of 1.69 and a beta of 1.14. The company has a quick ratio of 0.83, a current ratio of 1.35 and a debt-to-equity ratio of 1.41. The stock has a 50-day simple moving average of $341.98 and a two-hundred day simple moving average of $328.08.

Caterpillar (NYSE:CAT) last announced 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 return on equity of 58.61% and a net margin of 16.79%. The firm had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $16.07 billion. On average, equities research analysts expect that Caterpillar Inc. will post 21.84 earnings per share for the current fiscal year.

Caterpillar announced that its Board of Directors has approved a stock 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 repurchase up to 12.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Caterpillar Increases Dividend

The company 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 represents a $5.64 annualized dividend and a dividend yield of 1.74%. This is a boost from Caterpillar’s previous quarterly dividend of $1.30. The ex-dividend date is Monday, July 22nd. Caterpillar’s dividend payout ratio (DPR) is presently 23.48%.

Insider Activity at Caterpillar

In related news, Director David Maclennan purchased 500 shares of Caterpillar stock in a transaction that occurred on Friday, May 3rd. The stock was bought at an average cost of $337.39 per share, for a total transaction of $168,695.00. Following the completion of the transaction, the director now owns 5,738 shares in the company, valued at $1,935,943.82. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director David Maclennan purchased 500 shares of Caterpillar stock in a transaction that occurred on Friday, May 3rd. The stock was bought at an average cost of $337.39 per share, for a total transaction of $168,695.00. Following the completion of the transaction, the director now owns 5,738 shares in the company, valued at $1,935,943.82. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Cheryl H. Johnson sold 1,508 shares of Caterpillar stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $340.00, for a total value of $512,720.00. Following the transaction, the insider now owns 20,023 shares of the company’s stock, valued at $6,807,820. The disclosure for this sale can be found here. 0.33% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CAT has been the topic of a number of recent research reports. TD Cowen increased their price target 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 initiated coverage on Caterpillar in a research report on Thursday, March 14th. They set a “buy” rating and a $390.00 price target on the stock. Stifel Nicolaus downgraded Caterpillar from a “buy” rating to a “hold” rating and increased their price target for the stock from $293.00 to $350.00 in a research report on Friday, April 26th. The Goldman Sachs Group increased their price target on Caterpillar from $357.00 to $408.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Caterpillar in a research report on Thursday, April 18th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $329.63.

About Caterpillar

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.