Edgestream Partners L.P. Has $6.13 Million Stock Position in Caterpillar Inc. (NYSE:CAT)

Edgestream Partners L.P. grew its stake in Caterpillar Inc. (NYSE:CAT) by 580.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 18,596 shares of the industrial products company’s stock after purchasing an additional 15,864 shares during the quarter. Edgestream Partners L.P.’s holdings in Caterpillar were worth $6,133,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Proficio Capital Partners LLC raised its stake in Caterpillar by 38.3% during the 4th quarter. Proficio Capital Partners LLC now owns 2,218 shares of the industrial products company’s stock worth $805,000 after buying an additional 614 shares during the period. Victrix Investment Advisors acquired a new stake in Caterpillar during the 4th quarter worth $2,090,000. Pacific Point Advisors LLC acquired a new stake in Caterpillar during the 4th quarter worth $579,000. Wealth Enhancement Advisory Services LLC raised its stake in Caterpillar by 18.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 191,640 shares of the industrial products company’s stock worth $63,202,000 after buying an additional 30,070 shares during the period. Finally, Liberty Square Wealth Partners LLC raised its stake in Caterpillar by 5.8% during the 1st quarter. Liberty Square Wealth Partners LLC now owns 1,636 shares of the industrial products company’s stock worth $540,000 after buying an additional 90 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Price Performance

Shares of NYSE CAT opened at $405.90 on Tuesday. The stock has a market capitalization of $191.20 billion, a price-to-earnings ratio of 19.78, a PEG ratio of 2.70 and a beta of 1.38. The business has a 50-day moving average of $362.45 and a 200-day moving average of $348.21. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.32 and a quick ratio of 0.77. 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 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 during the quarter, compared to analyst estimates of $14.64 billion. During the same quarter last year, the business posted $5.60 earnings per share. The company’s revenue for the quarter was down 9.8% on a year-over-year basis. As a group, sell-side analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, July 21st will be paid a $1.51 dividend. This is an increase from Caterpillar’s previous quarterly dividend of $1.41. This represents a $6.04 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend is Monday, July 21st. Caterpillar’s dividend payout ratio (DPR) is 29.43%.

Analysts Set New Price Targets

Several analysts recently commented on CAT shares. Robert W. Baird raised their price objective on Caterpillar from $395.00 to $422.00 and gave the stock an “outperform” rating in a research note on Friday, June 20th. Bank of America increased their target price on Caterpillar from $335.00 to $385.00 and gave the stock a “buy” rating in a report on Friday, May 30th. Citigroup reiterated a “buy” rating and set a $420.00 target price (up previously from $370.00) on shares of Caterpillar in a report on Tuesday, June 24th. DA Davidson increased their target price on Caterpillar from $325.00 to $331.00 and gave the stock a “neutral” rating in a report on Monday, May 5th. Finally, Melius Research upgraded Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 target price for the company in a report on Wednesday, July 9th. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $406.47.

Insider Transactions at Caterpillar

In other news, Director David Maclennan bought 375 shares of the business’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 purchase, the director owned 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.33% of the company’s stock.

About Caterpillar

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.