Stockman Wealth Management Inc. Increases Holdings in Caterpillar Inc. (NYSE:CAT)

Stockman Wealth Management Inc. increased its position in shares of Caterpillar Inc. (NYSE:CAT) by 5.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 39,407 shares of the industrial products company’s stock after purchasing an additional 2,031 shares during the quarter. Caterpillar accounts for 1.9% of Stockman Wealth Management Inc.’s investment portfolio, making the stock its 15th biggest holding. Stockman Wealth Management Inc.’s holdings in Caterpillar were worth $12,996,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Sentry LLC increased its position in Caterpillar by 8.9% during the first quarter. Sentry LLC now owns 19,904 shares of the industrial products company’s stock worth $6,564,000 after buying an additional 1,623 shares in the last quarter. Precision Wealth Strategies LLC increased its position in Caterpillar by 19.1% during the 1st quarter. Precision Wealth Strategies LLC now owns 1,256 shares of the industrial products company’s stock worth $414,000 after purchasing an additional 201 shares in the last quarter. Sagespring Wealth Partners LLC raised its stake in Caterpillar by 4.9% in the 1st quarter. Sagespring Wealth Partners LLC now owns 20,495 shares of the industrial products company’s stock valued at $6,759,000 after purchasing an additional 956 shares during the last quarter. Great Lakes Retirement Inc. boosted its stake in shares of Caterpillar by 5.2% during the 1st quarter. Great Lakes Retirement Inc. now owns 6,693 shares of the industrial products company’s stock worth $2,207,000 after purchasing an additional 330 shares during the last quarter. Finally, Adero Partners LLC raised its position in shares of Caterpillar by 5.7% in the first quarter. Adero Partners LLC now owns 943 shares of the industrial products company’s stock valued at $311,000 after buying an additional 51 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Performance

NYSE:CAT opened at $356.79 on Monday. The firm’s fifty day simple moving average is $327.10 and its 200 day simple moving average is $347.86. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $418.50. The firm has a market capitalization of $168.06 billion, a price-to-earnings ratio of 16.17, a PEG ratio of 1.87 and a beta of 1.37.

Caterpillar (NYSE:CAT) last issued its earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share 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 analysts’ expectations of $14.64 billion. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. Caterpillar’s quarterly revenue was down 9.8% on a year-over-year basis. During the same period in the previous year, the company earned $5.60 EPS. As a group, equities research analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st will be paid a $1.51 dividend. The ex-dividend date of this dividend is Monday, July 21st. This is an increase from Caterpillar’s previous quarterly dividend of $1.41. This represents a $6.04 annualized dividend and a dividend yield of 1.69%. Caterpillar’s dividend payout ratio is 29.43%.

Insider Buying and Selling

In other Caterpillar news, Director David Maclennan bought 375 shares of the company’s stock in a transaction dated Wednesday, May 7th. The shares were acquired at an average cost of $320.70 per share, with a total value of $120,262.50. Following the completion of the transaction, the director now owns 6,653 shares in the company, valued at $2,133,617.10. The trade was a 5.97% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.33% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Baird R W upgraded Caterpillar from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 13th. UBS Group upgraded shares of Caterpillar from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $272.00 to $357.00 in a report on Friday, May 16th. JPMorgan Chase & Co. lowered their target price on shares of Caterpillar from $490.00 to $380.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Bank of America increased their price target on shares of Caterpillar from $335.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, May 30th. Finally, Evercore ISI lowered their price objective on shares of Caterpillar from $375.00 to $373.00 and set an “in-line” rating for the company in a research note on Monday, May 19th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $372.92.

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.