Wagner Wealth Management LLC Has $289,000 Position in Caterpillar Inc. (NYSE:CAT)

Wagner Wealth Management LLC raised its holdings in Caterpillar Inc. (NYSE:CAT) by 31.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 877 shares of the industrial products company’s stock after buying an additional 209 shares during the quarter. Wagner Wealth Management LLC’s holdings in Caterpillar were worth $289,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Flagship Wealth Advisors LLC acquired a new stake in shares of Caterpillar in the fourth quarter worth $26,000. Halbert Hargrove Global Advisors LLC acquired a new stake in Caterpillar in the 4th quarter worth $27,000. Cyrus J. Lawrence LLC acquired a new stake in Caterpillar in the 4th quarter worth $27,000. Noble Wealth Management PBC acquired a new stake in Caterpillar in the 4th quarter worth $31,000. Finally, Investment Management Corp VA ADV acquired a new stake in Caterpillar during the fourth quarter worth about $33,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insiders Place Their Bets

In related news, Director David Maclennan purchased 375 shares of Caterpillar stock in a transaction that occurred on Wednesday, May 7th. The shares were acquired at an average price of $320.70 per share, for a total transaction of $120,262.50. Following the transaction, the director now directly owns 6,653 shares in the company, valued at approximately $2,133,617.10. This represents a 5.97% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

CAT has been the topic of a number of recent research reports. Morgan Stanley raised Caterpillar from an “underweight” rating to an “equal weight” rating and decreased their target price for the stock from $300.00 to $283.00 in a research report on Wednesday, April 16th. Truist Financial reissued a “buy” rating and set a $396.00 price objective (up previously from $389.00) on shares of Caterpillar in a report on Thursday, May 1st. JPMorgan Chase & Co. decreased their price target on shares of Caterpillar from $490.00 to $380.00 and set an “overweight” rating on the stock in a research note on Monday, April 14th. Evercore ISI decreased 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. Finally, Citigroup lifted their target price on shares of Caterpillar from $320.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, May 5th. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $372.92.

Caterpillar Price Performance

NYSE:CAT opened at $362.21 on Tuesday. The firm has a market cap of $170.62 billion, a PE ratio of 16.41, a price-to-earnings-growth ratio of 1.87 and a beta of 1.37. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $418.50. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. The company’s 50-day moving average price is $328.90 and its two-hundred day moving average price is $347.55.

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

Caterpillar Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders 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 represents a $6.04 dividend on an annualized basis and a yield of 1.67%. This is a positive change from Caterpillar’s previous quarterly dividend of $1.41. Caterpillar’s payout ratio is currently 29.43%.

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.