Gibbs Wealth Management raised its holdings in shares of Caterpillar Inc. (NYSE:CAT – Free Report) by 131.7% during the 1st quarter, Holdings Channel reports. The fund owned 2,827 shares of the industrial products company’s stock after purchasing an additional 1,607 shares during the period. Gibbs Wealth Management’s holdings in Caterpillar were worth $2,003,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors also recently modified their holdings of the business. Lam Group Inc. bought a new position in Caterpillar during the 1st quarter valued at $26,000. Torren Management LLC bought a new stake in shares of Caterpillar in the 4th quarter worth $27,000. Frazier Financial Advisors LLC boosted its stake in Caterpillar by 220.0% during the fourth quarter. Frazier Financial Advisors LLC now owns 48 shares of the industrial products company’s stock valued at $28,000 after buying an additional 33 shares in the last quarter. Cornerstone Financial Management LLC acquired a new position in Caterpillar during the fourth quarter worth about $32,000. Finally, Monetary Solutions Ltd bought a new stake in Caterpillar in the fourth quarter worth about $35,000. 70.98% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on CAT. Bank of America raised their price objective on shares of Caterpillar from $930.00 to $989.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Citigroup increased their target price on shares of Caterpillar from $1,020.00 to $1,100.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Sanford C. Bernstein raised their target price on shares of Caterpillar from $769.00 to $879.00 and gave the stock a “market perform” rating in a report on Friday, May 1st. Wall Street Zen raised Caterpillar from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, DA Davidson increased their price objective on Caterpillar from $650.00 to $845.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. Fifteen equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $980.57.
Caterpillar Stock Up 0.4%
NYSE:CAT opened at $893.02 on Friday. The business’s fifty day moving average price is $928.87 and its 200 day moving average price is $803.52. The firm has a market capitalization of $411.32 billion, a price-to-earnings ratio of 44.45, a PEG ratio of 1.74 and a beta of 1.57. The company has a current ratio of 1.35, a quick ratio of 0.81 and a debt-to-equity ratio of 1.64. Caterpillar Inc. has a 1-year low of $405.46 and a 1-year high of $1,073.46.
Caterpillar (NYSE:CAT – Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The industrial products company reported $5.54 EPS for the quarter, topping analysts’ consensus estimates of $4.65 by $0.89. The firm had revenue of $17.41 billion during the quarter, compared to analyst estimates of $16.53 billion. Caterpillar had a return on equity of 48.21% and a net margin of 13.33%.The business’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period last year, the company posted $4.25 EPS. On average, sell-side analysts forecast that Caterpillar Inc. will post 24.87 earnings per share for the current fiscal year.
Caterpillar Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Monday, July 20th will be paid a $1.63 dividend. The ex-dividend date is Monday, July 20th. This represents a $6.52 annualized dividend and a yield of 0.7%. This is a boost from Caterpillar’s previous quarterly dividend of $1.51. Caterpillar’s dividend payout ratio (DPR) is currently 32.45%.
Insider Buying and Selling
In related news, CAO William E. Schaupp sold 360 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $906.00, for a total transaction of $326,160.00. Following the completion of the sale, the chief accounting officer directly owned 530 shares in the company, valued at approximately $480,180. This trade represents a 40.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Denise C. Johnson sold 12,605 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $907.91, for a total value of $11,444,205.55. Following the completion of the transaction, the insider owned 49,825 shares in the company, valued at $45,236,615.75. This trade represents a 20.19% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 95,773 shares of company stock worth $87,642,635. Insiders own 0.33% of the company’s stock.
Caterpillar Company Profile
Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.
In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.
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