816 Shares in Caterpillar Inc. (NYSE:CAT) Purchased by Berry Wealth Group LP

Berry Wealth Group LP purchased a new position in shares of Caterpillar Inc. (NYSE:CAT) during the first quarter, HoldingsChannel.com reports. The institutional investor purchased 816 shares of the industrial products company’s stock, valued at approximately $269,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Norges Bank purchased a new stake in Caterpillar in the 4th quarter valued at approximately $2,184,364,000. GAMMA Investing LLC raised its position in shares of Caterpillar by 43,447.3% during the 1st quarter. GAMMA Investing LLC now owns 3,730,259 shares of the industrial products company’s stock worth $1,230,239,000 after purchasing an additional 3,721,693 shares during the last quarter. Capital Research Global Investors raised its position in shares of Caterpillar by 69.3% during the 4th quarter. Capital Research Global Investors now owns 2,924,054 shares of the industrial products company’s stock worth $1,060,730,000 after purchasing an additional 1,196,861 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Caterpillar during the 4th quarter worth approximately $353,231,000. Finally, Proficio Capital Partners LLC raised its position in shares of Caterpillar by 50,072.7% during the 4th quarter. Proficio Capital Partners LLC now owns 804,770 shares of the industrial products company’s stock worth $291,938,000 after purchasing an additional 803,166 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Activity

In other Caterpillar news, Director David Maclennan purchased 375 shares of the business’s stock in a transaction dated Wednesday, May 7th. The shares were bought at an average price of $320.70 per share, with a total value of $120,262.50. Following the completion of the acquisition, the director now owns 6,653 shares in the company, valued at approximately $2,133,617.10. This represents a 5.97% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CAT shares. JPMorgan Chase & Co. cut their price target on Caterpillar from $490.00 to $380.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Baird R W raised shares of Caterpillar from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 13th. Wall Street Zen cut shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Truist Financial boosted their price objective on shares of Caterpillar from $396.00 to $414.00 and gave the company a “buy” rating in a research note on Monday. Finally, DA Davidson upped their price target on shares of Caterpillar from $325.00 to $331.00 and gave the stock a “neutral” rating in a research report on Monday, May 5th. Six research 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 company. According to data from MarketBeat.com, Caterpillar currently has an average rating of “Moderate Buy” and an average target price of $376.67.

Caterpillar Stock Performance

Shares of NYSE CAT opened at $366.65 on Tuesday. The company has a quick ratio of 0.77, a current ratio of 1.32 and a debt-to-equity ratio of 1.43. The firm’s 50-day moving average price is $335.33 and its two-hundred day moving average price is $346.24. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $418.50. The stock has a market capitalization of $172.71 billion, a P/E ratio of 17.87, a P/E/G ratio of 2.40 and a beta of 1.37.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share for the quarter, missing analysts’ consensus estimates of $4.35 by ($0.10). The business had revenue of $14.25 billion for the quarter, compared to the consensus estimate of $14.64 billion. Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. The business’s quarterly revenue was down 9.8% on a year-over-year basis. During the same period last year, the firm posted $5.60 EPS. As a group, sell-side analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st will be issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date is Monday, July 21st. This is a boost from Caterpillar’s previous quarterly dividend of $1.41. Caterpillar’s payout ratio is 27.49%.

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.