Doliver Advisors LP Buys 496 Shares of Caterpillar Inc. (NYSE:CAT)

Doliver Advisors LP increased its stake in shares of Caterpillar Inc. (NYSE:CAT) by 32.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,014 shares of the industrial products company’s stock after buying an additional 496 shares during the quarter. Doliver Advisors LP’s holdings in Caterpillar were worth $664,000 at the end of the most recent reporting period.

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

Caterpillar Stock Performance

Shares of NYSE:CAT opened at $347.10 on Friday. The stock has a market capitalization of $163.50 billion, a P/E ratio of 15.73, a P/E/G ratio of 1.87 and a beta of 1.35. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $418.50. 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 business has a 50-day moving average price of $319.22 and a two-hundred day moving average price of $351.14.

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

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Monday, April 21st were issued a $1.41 dividend. The ex-dividend date of this dividend was Monday, April 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.62%. Caterpillar’s dividend payout ratio is presently 27.49%.

Wall Street Analyst Weigh In

CAT has been the subject of several research analyst reports. DA Davidson lifted their price objective on Caterpillar from $325.00 to $331.00 and gave the company a “neutral” rating in a research report on Monday, May 5th. Evercore ISI cut their price target on Caterpillar from $375.00 to $373.00 and set an “in-line” rating for the company in a report on Monday, May 19th. Truist Financial reaffirmed a “buy” rating and issued a $396.00 price target (up from $389.00) on shares of Caterpillar in a report on Thursday, May 1st. Wedbush raised Caterpillar to an “outperform” rating in a report on Monday, February 3rd. Finally, UBS Group raised shares of Caterpillar from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $272.00 to $357.00 in a research note on Friday, May 16th. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $372.92.

Insider Activity at Caterpillar

In related news, Director David Maclennan acquired 375 shares of the company’s stock in a transaction that occurred on Wednesday, May 7th. The stock was acquired at an average price of $320.70 per share, for a total transaction of $120,262.50. Following the completion of the acquisition, the director now owns 6,653 shares of the company’s stock, valued at $2,133,617.10. This trade represents a 5.97% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.33% of the stock is currently owned by corporate insiders.

Caterpillar Company 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.