Caterpillar Inc. (NYSE:CAT) Shares Acquired by MFG Wealth Management Inc.

MFG Wealth Management Inc. boosted its position in Caterpillar Inc. (NYSE:CAT) by 3.6% in the 1st quarter, Holdings Channel reports. The institutional investor owned 6,589 shares of the industrial products company’s stock after buying an additional 226 shares during the period. Caterpillar accounts for approximately 2.1% of MFG Wealth Management Inc.’s holdings, making the stock its 20th biggest holding. MFG Wealth Management Inc.’s holdings in Caterpillar were worth $2,173,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Flagship Wealth Advisors LLC bought a new stake in shares of Caterpillar during the 4th quarter valued at about $26,000. Halbert Hargrove Global Advisors LLC acquired a new position in Caterpillar in the fourth quarter valued at approximately $27,000. Cyrus J. Lawrence LLC bought a new position in shares of Caterpillar during the fourth quarter valued at approximately $27,000. Noble Wealth Management PBC bought a new stake in shares of Caterpillar in the 4th quarter worth approximately $31,000. Finally, Investment Management Corp VA ADV acquired a new position in Caterpillar during the 4th quarter valued at approximately $33,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analysts Set New Price Targets

CAT has been the topic of several analyst reports. Oppenheimer raised Caterpillar from a “market perform” rating to an “outperform” rating and set a $395.00 target price on the stock in a research report on Thursday, May 1st. JPMorgan Chase & Co. reduced their price objective on Caterpillar from $490.00 to $380.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Baird R W upgraded Caterpillar from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 13th. Robert W. Baird boosted their price target on Caterpillar from $395.00 to $422.00 and gave the stock an “outperform” rating in a research report on Friday, June 20th. Finally, Evercore ISI lowered their price target on Caterpillar from $375.00 to $373.00 and set an “in-line” rating on the stock in a report on Monday, May 19th. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $380.83.

Caterpillar Price Performance

NYSE CAT opened at $371.63 on Thursday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.77 and a current ratio of 1.32. The stock has a market capitalization of $175.05 billion, a P/E ratio of 18.11, a P/E/G ratio of 2.48 and a beta of 1.37. The business’s fifty day moving average is $338.55 and its two-hundred day moving average is $346.61. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $418.50.

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 company had revenue of $14.25 billion during the quarter, compared to analyst estimates of $14.64 billion. Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. The company’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 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 given a $1.51 dividend. 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 1.63%. The ex-dividend date is Monday, July 21st. Caterpillar’s dividend payout ratio (DPR) is 27.49%.

Insider Activity

In other Caterpillar news, Director David Maclennan purchased 375 shares of the stock in a transaction dated 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 completion of the acquisition, the director now owns 6,653 shares of the company’s stock, valued at $2,133,617.10. This represents a 5.97% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.33% of the stock is owned by company insiders.

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.