Good Steward Wealth Advisors LLC Makes New $332,000 Investment in Caterpillar Inc. (NYSE:CAT)

Good Steward Wealth Advisors LLC bought a new position in shares of Caterpillar Inc. (NYSE:CAT) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,008 shares of the industrial products company’s stock, valued at approximately $332,000.

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

Insider Transactions at Caterpillar

In related news, Director David Maclennan acquired 375 shares of Caterpillar stock in a transaction dated Wednesday, May 7th. The stock was acquired at an average cost of $320.70 per share, with a total value of $120,262.50. Following the purchase, the director now directly owns 6,653 shares in the company, valued at $2,133,617.10. The trade was a 5.97% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on CAT. Morgan Stanley upgraded Caterpillar from an “underweight” rating to an “equal weight” rating and cut their target price for the company from $300.00 to $283.00 in a research note on Wednesday, April 16th. Oppenheimer upgraded shares of Caterpillar from a “market perform” rating to an “outperform” rating and set a $395.00 price objective on the stock in a research report on Thursday, May 1st. Bank of America upped their target price on shares of Caterpillar from $335.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, May 30th. Truist Financial reaffirmed a “buy” rating and set a $396.00 price target (up previously from $389.00) on shares of Caterpillar in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. reduced 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 issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $372.92.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $359.73 on Friday. The stock has a market cap of $169.45 billion, a price-to-earnings ratio of 17.53, a PEG ratio of 2.40 and a beta of 1.37. 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 12 month low of $267.30 and a 12 month high of $418.50. The stock’s 50 day moving average price is $332.62 and its 200 day moving average price is $347.41.

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

Caterpillar Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st will be given a dividend of $1.51 per share. This is a positive change from Caterpillar’s previous quarterly dividend of $1.41. The ex-dividend date of this dividend is Monday, July 21st. This represents a $6.04 annualized dividend and a dividend yield of 1.68%. Caterpillar’s dividend payout ratio (DPR) is 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.