Jaffetilchin Investment Partners LLC Acquires 584 Shares of Caterpillar Inc. (NYSE:CAT)

Jaffetilchin Investment Partners LLC raised its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 5.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 10,716 shares of the industrial products company’s stock after buying an additional 584 shares during the quarter. Jaffetilchin Investment Partners LLC’s holdings in Caterpillar were worth $3,534,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CAT. Proficio Capital Partners LLC grew its position in Caterpillar by 38.3% in the fourth quarter. Proficio Capital Partners LLC now owns 2,218 shares of the industrial products company’s stock worth $805,000 after acquiring an additional 614 shares in the last quarter. Victrix Investment Advisors purchased a new position in shares of Caterpillar in the 4th quarter worth approximately $2,090,000. Pacific Point Advisors LLC bought a new position in shares of Caterpillar during the 4th quarter valued at approximately $579,000. Wealth Enhancement Advisory Services LLC raised its holdings in Caterpillar by 18.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 191,640 shares of the industrial products company’s stock valued at $63,202,000 after buying an additional 30,070 shares during the period. Finally, Brighton Jones LLC lifted its position in Caterpillar by 51.5% in the fourth quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company’s stock worth $2,688,000 after buying an additional 2,519 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Caterpillar

In other news, Director David Maclennan acquired 375 shares of the business’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 acquisition, the director now owns 6,653 shares of the company’s stock, valued at approximately $2,133,617.10. This trade represents a 5.97% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 0.33% of the stock is currently owned by insiders.

Caterpillar Stock Up 2.7%

Shares of NYSE CAT opened at $381.70 on Friday. The stock has a market capitalization of $179.80 billion, a PE ratio of 18.60, a price-to-earnings-growth ratio of 2.47 and a beta of 1.37. The company has a current ratio of 1.32, a quick ratio of 0.77 and a debt-to-equity ratio of 1.43. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $418.50. The stock’s fifty day simple moving average is $340.31 and its two-hundred day simple moving average is $346.48.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data 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). Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. The company had revenue of $14.25 billion for the quarter, compared to the consensus estimate of $14.64 billion. During the same period in the previous year, the business earned $5.60 EPS. Caterpillar’s revenue for the quarter was down 9.8% compared to the same quarter last year. As a group, analysts expect that Caterpillar Inc. will post 19.86 EPS for the current fiscal 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 paid a dividend of $1.51 per share. This is a positive change from Caterpillar’s previous quarterly dividend of $1.41. The ex-dividend date is Monday, July 21st. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.58%. Caterpillar’s payout ratio is presently 27.49%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Bank of America boosted their price objective on shares of Caterpillar from $335.00 to $385.00 and gave the company a “buy” rating in a research report on Friday, May 30th. Morgan Stanley upgraded shares of Caterpillar from an “underweight” rating to an “equal weight” rating and cut their price target for the company from $300.00 to $283.00 in a report on Wednesday, April 16th. Evercore ISI decreased 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. UBS Group raised Caterpillar from a “sell” rating to a “neutral” rating and upped their target price for the company from $272.00 to $357.00 in a research note on Friday, May 16th. Finally, DA Davidson upped their price objective on Caterpillar from $325.00 to $331.00 and gave the company a “neutral” rating in a research report on Monday, May 5th. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $380.83.

About Caterpillar

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.