Caterpillar Inc. (NYSE:CAT) Stock Holdings Lifted by Phillips Wealth Planners LLC

Phillips Wealth Planners LLC raised its position in Caterpillar Inc. (NYSE:CAT) by 24.2% during the first quarter, HoldingsChannel.com reports. The firm owned 1,006 shares of the industrial products company’s stock after buying an additional 196 shares during the quarter. Phillips Wealth Planners LLC’s holdings in Caterpillar were worth $332,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Omnia Family Wealth LLC lifted its position in shares of Caterpillar by 12.3% in the first quarter. Omnia Family Wealth LLC now owns 766 shares of the industrial products company’s stock worth $253,000 after buying an additional 84 shares during the last quarter. Tyche Wealth Partners LLC lifted its position in shares of Caterpillar by 2.4% in the first quarter. Tyche Wealth Partners LLC now owns 7,409 shares of the industrial products company’s stock worth $2,444,000 after buying an additional 172 shares during the last quarter. Alpine Bank Wealth Management acquired a new stake in shares of Caterpillar in the first quarter worth about $212,000. HBK Sorce Advisory LLC lifted its position in shares of Caterpillar by 1.0% in the first quarter. HBK Sorce Advisory LLC now owns 9,409 shares of the industrial products company’s stock worth $3,103,000 after buying an additional 93 shares during the last quarter. Finally, Golden State Wealth Management LLC lifted its position in shares of Caterpillar by 129.3% in the first quarter. Golden State Wealth Management LLC now owns 7,625 shares of the industrial products company’s stock worth $2,516,000 after buying an additional 4,299 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Activity

In related news, Director David Maclennan acquired 375 shares of the stock in a transaction dated Wednesday, May 7th. The shares were bought at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the purchase, the director now owns 6,653 shares in the company, 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 Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CAT. Evercore ISI reduced their price target on Caterpillar from $375.00 to $373.00 and set an “in-line” rating for the company in a research report on Monday, May 19th. DA Davidson boosted their price objective on Caterpillar from $325.00 to $331.00 and gave the stock a “neutral” rating in a research report on Monday, May 5th. Truist Financial boosted their price objective on Caterpillar from $396.00 to $414.00 and gave the stock a “buy” rating in a research report on Monday. Morgan Stanley raised Caterpillar from an “underweight” rating to an “equal weight” rating and cut their price objective for the stock from $300.00 to $283.00 in a research report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. cut 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. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $380.83.

Caterpillar Trading Down 0.4%

Shares of CAT opened at $371.63 on Thursday. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $418.50. The company has a quick ratio of 0.77, a current ratio of 1.32 and a debt-to-equity ratio of 1.43. The firm has a market capitalization of $175.05 billion, a price-to-earnings ratio of 18.11, a P/E/G ratio of 2.48 and a beta of 1.37. The stock’s 50-day moving average price is $338.55 and its 200 day moving average price is $346.61.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.35 by ($0.10). Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. The firm had revenue of $14.25 billion for the quarter, compared to the consensus estimate of $14.64 billion. During the same quarter in the prior year, the firm earned $5.60 earnings per share. The company’s revenue was down 9.8% on a year-over-year basis. As a group, research analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st will be paid a $1.51 dividend. This is a positive change 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 is currently 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.