Bay Colony Advisory Group Inc d b a Bay Colony Advisors Has $1.14 Million Stake in Caterpillar Inc. (NYSE:CAT)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its position in Caterpillar Inc. (NYSE:CAT) by 6.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,462 shares of the industrial products company’s stock after purchasing an additional 222 shares during the quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in Caterpillar were worth $1,141,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Flagship Wealth Advisors LLC acquired a new position in shares of Caterpillar in the fourth quarter valued at about $26,000. Halbert Hargrove Global Advisors LLC bought a new stake in Caterpillar in the 4th quarter valued at about $27,000. Cyrus J. Lawrence LLC acquired a new position in shares of Caterpillar during the 4th quarter worth approximately $27,000. Noble Wealth Management PBC bought a new position in shares of Caterpillar during the fourth quarter worth approximately $31,000. Finally, Investment Management Corp VA ADV acquired a new stake in shares of Caterpillar in the fourth quarter valued at approximately $33,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Stock Performance

NYSE CAT opened at $359.73 on Thursday. The firm’s fifty day moving average price is $331.20 and its two-hundred day moving average price is $347.71. The stock has a market cap of $169.45 billion, a PE ratio of 17.53, a PEG ratio of 2.38 and a beta of 1.37. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.77 and a current ratio of 1.32. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $418.50.

Caterpillar (NYSE:CAT) last issued its earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.35 by ($0.10). The firm had revenue of $14.25 billion during the quarter, compared to analyst estimates of $14.64 billion. Caterpillar had a return on equity of 53.77% and a net margin of 15.71%. Caterpillar’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same period in the previous year, the company earned $5.60 EPS. On average, equities 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. Shareholders of record on Monday, July 21st will be given a $1.51 dividend. This is a boost from Caterpillar’s previous quarterly dividend of $1.41. This represents a $6.04 annualized dividend and a yield of 1.68%. The ex-dividend date is Monday, July 21st. Caterpillar’s dividend payout ratio is 27.49%.

Analyst Ratings Changes

CAT has been the topic of a number of recent research reports. Baird R W upgraded Caterpillar from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 13th. JPMorgan Chase & Co. reduced their target price on Caterpillar from $490.00 to $380.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. DA Davidson boosted their price target on Caterpillar from $325.00 to $331.00 and gave the company a “neutral” rating in a research note on Monday, May 5th. Wall Street Zen downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, Truist Financial restated a “buy” rating and issued a $396.00 target price (up from $389.00) on shares of Caterpillar in a research report on Thursday, May 1st. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $372.92.

Insider Activity

In related news, Director David Maclennan acquired 375 shares of the firm’s stock in a transaction that occurred on Wednesday, May 7th. The stock was acquired at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the completion of the acquisition, 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 position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.33% of the company’s stock.

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.