Caterpillar Inc. (NYSE:CAT) Shares Bought by Private Ocean LLC

Private Ocean LLC raised its stake in Caterpillar Inc. (NYSE:CAT) by 23.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 190 shares of the industrial products company’s stock after buying an additional 36 shares during the quarter. Private Ocean LLC’s holdings in Caterpillar were worth $70,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CAT. Partnership Wealth Management LLC acquired a new stake in shares of Caterpillar during the fourth quarter worth about $26,000. Richardson Financial Services Inc. acquired a new stake in shares of Caterpillar during the fourth quarter worth about $27,000. Thompson Investment Management Inc. acquired a new stake in shares of Caterpillar during the first quarter worth about $27,000. Gilfoyle & Co LLC acquired a new stake in shares of Caterpillar during the fourth quarter worth about $30,000. Finally, Vima LLC acquired a new stake in Caterpillar in the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CAT shares. Stifel Nicolaus downgraded shares of Caterpillar from a “buy” rating to a “hold” rating and lifted their price target for the stock from $293.00 to $350.00 in a research note on Friday, April 26th. Truist Financial started coverage on shares of Caterpillar in a research note on Thursday, March 14th. They issued a “buy” rating and a $390.00 price target for the company. JPMorgan Chase & Co. lifted their price target on shares of Caterpillar from $385.00 to $435.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 16th. Oppenheimer reiterated a “market perform” rating on shares of Caterpillar in a research note on Thursday, April 18th. Finally, 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. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $329.63.

Insider Activity

In other news, insider Lange Bob De sold 21,847 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $356.90, for a total transaction of $7,797,194.30. Following the completion of the transaction, the insider now owns 71,115 shares of the company’s stock, valued at approximately $25,380,943.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Cheryl H. Johnson sold 1,508 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $340.00, for a total transaction of $512,720.00. Following the completion of the sale, the insider now owns 20,023 shares of the company’s stock, valued at approximately $6,807,820. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Lange Bob De sold 21,847 shares of the 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 of the company’s stock, valued at approximately $25,380,943.50. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Trading Up 1.7 %

NYSE:CAT traded up $5.64 on Friday, reaching $333.10. The stock had a trading volume of 8,891,479 shares, compared to its average volume of 3,519,845. The company has a market cap of $162.90 billion, a price-to-earnings ratio of 15.04, a P/E/G ratio of 1.68 and a beta of 1.14. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.35 and a quick ratio of 0.83. The firm’s fifty day moving average is $340.31 and its two-hundred day moving average is $329.04. Caterpillar Inc. has a 12-month low of $223.76 and a 12-month high of $382.01.

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

Caterpillar Increases Dividend

The business 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 dividend of $1.41 per share. The ex-dividend date is Monday, July 22nd. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.69%. This is an increase from Caterpillar’s previous quarterly dividend of $1.30. Caterpillar’s dividend payout ratio is currently 23.48%.

Caterpillar announced that its board has initiated a share buyback program on Wednesday, June 12th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the industrial products company to buy up to 12.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Caterpillar 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.