Lake Street Private Wealth LLC Acquires 532 Shares of Caterpillar Inc. (NYSE:CAT)

Lake Street Private Wealth LLC lifted its position in Caterpillar Inc. (NYSE:CAT) by 7.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,711 shares of the industrial products company’s stock after purchasing an additional 532 shares during the quarter. Lake Street Private Wealth LLC’s holdings in Caterpillar were worth $2,543,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Wealth Management Partners LLC increased its stake in Caterpillar by 17.1% in the first quarter. Wealth Management Partners LLC now owns 3,521 shares of the industrial products company’s stock valued at $1,161,000 after acquiring an additional 514 shares during the last quarter. Fermata Advisors LLC boosted its holdings in shares of Caterpillar by 29.7% during the first quarter. Fermata Advisors LLC now owns 2,375 shares of the industrial products company’s stock worth $783,000 after purchasing an additional 544 shares during the period. Naples Global Advisors LLC boosted its holdings in shares of Caterpillar by 4.1% during the first quarter. Naples Global Advisors LLC now owns 10,257 shares of the industrial products company’s stock worth $3,383,000 after purchasing an additional 408 shares during the period. Beacon Financial Group boosted its holdings in shares of Caterpillar by 4.1% during the first quarter. Beacon Financial Group now owns 1,284 shares of the industrial products company’s stock worth $423,000 after purchasing an additional 51 shares during the period. Finally, Portside Wealth Group LLC raised its stake in Caterpillar by 20.0% in the first quarter. Portside Wealth Group LLC now owns 4,554 shares of the industrial products company’s stock worth $1,652,000 after buying an additional 759 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Analysts Set New Price Targets

CAT has been the subject of a number of research reports. UBS Group raised shares of Caterpillar from a “sell” rating to a “neutral” rating and increased their price target for the stock from $272.00 to $357.00 in a research note on Friday, May 16th. Truist Financial reissued a “buy” rating and set a $396.00 price target (up previously from $389.00) on shares of Caterpillar in a research report on Thursday, May 1st. Robert W. Baird upgraded shares of Caterpillar from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $309.00 to $395.00 in a report on Tuesday, May 13th. Oppenheimer upgraded shares of Caterpillar from a “market perform” rating to an “outperform” rating and set a $395.00 target price on the stock in a report on Thursday, May 1st. Finally, Evercore ISI dropped their price target on shares of Caterpillar from $375.00 to $373.00 and set an “in-line” rating on the stock in a research note on Monday, May 19th. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Caterpillar presently has an average rating of “Moderate Buy” and a consensus price target of $372.92.

Insider Buying and Selling at Caterpillar

In other news, Director David Maclennan bought 375 shares of the firm’s stock in a transaction on Wednesday, May 7th. The shares were bought at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the acquisition, the director now directly owns 6,653 shares of the company’s stock, valued at $2,133,617.10. This trade represents a 5.97% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 0.33% of the stock is currently owned by company insiders.

Caterpillar Stock Up 0.1%

CAT stock opened at $349.64 on Thursday. The firm has a market cap of $164.70 billion, a PE ratio of 15.84, a P/E/G ratio of 1.87 and a beta of 1.35. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42. The firm’s fifty day moving average is $319.90 and its 200 day moving average is $350.35. Caterpillar Inc. has a one year low of $267.30 and a one year high of $418.50.

Caterpillar (NYSE:CAT) last announced its earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.35 by ($0.10). The company had revenue of $14.25 billion during the quarter, compared to analyst estimates of $14.64 billion. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. The firm’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same quarter last year, the business earned $5.60 EPS. On average, research analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Monday, April 21st were given a dividend of $1.41 per share. The ex-dividend date of this dividend was Monday, April 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.61%. Caterpillar’s payout ratio is presently 27.49%.

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.