Caterpillar Inc. (NYSE:CAT) Stock Holdings Boosted by Atwater Malick LLC

Atwater Malick LLC raised its position in Caterpillar Inc. (NYSE:CAT) by 1.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,740 shares of the industrial products company’s stock after acquiring an additional 514 shares during the quarter. Caterpillar makes up 4.8% of Atwater Malick LLC’s investment portfolio, making the stock its 5th largest position. Atwater Malick LLC’s holdings in Caterpillar were worth $14,096,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of CAT. Flagship Wealth Advisors LLC purchased a new position in shares of Caterpillar during the fourth quarter valued at about $26,000. Halbert Hargrove Global Advisors LLC purchased a new position in shares of Caterpillar during the fourth quarter valued at about $27,000. Cyrus J. Lawrence LLC purchased a new position in shares of Caterpillar during the fourth quarter valued at about $27,000. Noble Wealth Management PBC purchased a new position in shares of Caterpillar during the fourth quarter valued at about $31,000. Finally, Investment Management Corp VA ADV purchased a new position in shares of Caterpillar during the fourth quarter valued at about $33,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CAT. Citigroup boosted their price target 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. DA Davidson upped their price objective on shares of Caterpillar from $325.00 to $331.00 and gave the stock a “neutral” rating in a report on Monday, May 5th. Robert W. Baird upgraded shares of Caterpillar from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $309.00 to $395.00 in a report on Tuesday, May 13th. Baird R W upgraded shares of Caterpillar from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 13th. Finally, UBS Group upgraded shares of Caterpillar from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $272.00 to $357.00 in a report on Friday, May 16th. Six investment 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $372.92.

Insider Activity

In other news, Director David Maclennan acquired 375 shares of the firm’s stock in a transaction dated Wednesday, May 7th. The shares were purchased at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the transaction, the director now directly 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 purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.33% of the company’s stock.

Caterpillar Stock Down 0.2%

Shares of CAT stock opened at $348.77 on Friday. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $418.50. The stock has a market cap of $164.28 billion, a P/E ratio of 15.80, a P/E/G ratio of 1.87 and a beta of 1.37. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40. The company has a 50 day simple moving average of $320.27 and a two-hundred day simple moving average of $350.10.

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

Caterpillar Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Monday, April 21st were given a dividend of $1.41 per share. The ex-dividend date was Monday, April 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.62%. 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.