Wealthfront Advisers LLC Has $52.97 Million Holdings in Caterpillar Inc. $CAT

Wealthfront Advisers LLC increased its position in shares of Caterpillar Inc. (NYSE:CAT) by 6.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 74,764 shares of the industrial products company’s stock after purchasing an additional 4,414 shares during the period. Wealthfront Advisers LLC’s holdings in Caterpillar were worth $52,967,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CAT. Lam Group Inc. acquired a new stake in shares of Caterpillar during the first quarter worth $26,000. Torren Management LLC acquired a new position in shares of Caterpillar in the fourth quarter valued at about $27,000. Frazier Financial Advisors LLC increased its position in Caterpillar by 220.0% during the fourth quarter. Frazier Financial Advisors LLC now owns 48 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 33 shares during the period. Cedar Mountain Advisors LLC raised its stake in Caterpillar by 82.1% in the 1st quarter. Cedar Mountain Advisors LLC now owns 51 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 23 shares in the last quarter. Finally, IFS Advisors LLC acquired a new stake in Caterpillar in the 4th quarter worth about $31,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Stock Performance

Caterpillar stock opened at $914.19 on Thursday. The business has a 50 day moving average of $931.98 and a 200-day moving average of $790.77. The company has a market capitalization of $421.07 billion, a P/E ratio of 45.50, a P/E/G ratio of 1.83 and a beta of 1.57. Caterpillar Inc. has a 1 year low of $403.32 and a 1 year high of $1,073.46. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 0.81.

Caterpillar (NYSE:CAT) last posted its earnings results on Thursday, April 30th. The industrial products company reported $5.54 EPS for the quarter, topping the consensus estimate of $4.65 by $0.89. Caterpillar had a net margin of 13.33% and a return on equity of 48.21%. The business had revenue of $17.41 billion for the quarter, compared to the consensus estimate of $16.53 billion. During the same period last year, the company earned $4.25 EPS. The firm’s revenue was up 22.2% compared to the same quarter last year. On average, equities research analysts predict that Caterpillar Inc. will post 24.85 earnings per share for the current year.

Caterpillar Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Monday, July 20th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.7%. This is a boost from Caterpillar’s previous quarterly dividend of $1.51. The ex-dividend date is Monday, July 20th. Caterpillar’s dividend payout ratio (DPR) is presently 30.06%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CAT shares. Wall Street Zen upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Truist Financial boosted their price target on Caterpillar from $1,043.00 to $1,218.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Wells Fargo & Company increased their price target on Caterpillar from $1,050.00 to $1,155.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 23rd. Oppenheimer raised their price objective on Caterpillar from $980.00 to $1,105.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, JPMorgan Chase & Co. lifted their price objective on Caterpillar from $1,125.00 to $1,165.00 and gave the company an “overweight” rating in a report on Wednesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, Caterpillar has a consensus rating of “Moderate Buy” and a consensus target price of $980.57.

Insider Buying and Selling

In related news, CFO Andrew R. J. Bonfield sold 15,674 shares of the stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $918.71, for a total value of $14,399,860.54. Following the completion of the sale, the chief financial officer directly owned 52,935 shares in the company, valued at $48,631,913.85. This represents a 22.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Lange Bob De sold 24,222 shares of the stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $922.92, for a total value of $22,354,968.24. Following the completion of the sale, the insider directly owned 86,029 shares of the company’s stock, valued at approximately $79,397,884.68. The trade was a 21.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 95,773 shares of company stock valued at $87,642,635 over the last quarter. 0.33% of the stock is currently owned by company insiders.

Caterpillar 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.