Investment Management Corp VA ADV Makes New Investment in Caterpillar Inc. (NYSE:CAT)

Investment Management Corp VA ADV acquired a new position in Caterpillar Inc. (NYSE:CAT) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 91 shares of the industrial products company’s stock, valued at approximately $33,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Flagship Wealth Advisors LLC bought a new stake in Caterpillar in the fourth quarter valued at approximately $26,000. Halbert Hargrove Global Advisors LLC purchased a new position in shares of Caterpillar in the fourth quarter worth $27,000. Cyrus J. Lawrence LLC bought a new stake in Caterpillar during the 4th quarter valued at $27,000. Noble Wealth Management PBC purchased a new stake in Caterpillar during the 4th quarter valued at $31,000. Finally, Quarry LP bought a new stake in Caterpillar in the 4th quarter worth $35,000. Institutional investors own 70.98% of the company’s stock.

Insider Transactions at Caterpillar

In related news, Director David Maclennan acquired 375 shares of the stock in a transaction 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 purchase, the director now owns 6,653 shares of the company’s stock, valued at $2,133,617.10. This represents a 5.97% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.33% of the company’s stock.

Caterpillar Price Performance

CAT opened at $345.03 on Friday. 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 company has a market cap of $162.52 billion, a price-to-earnings ratio of 15.63, a price-to-earnings-growth ratio of 1.87 and a beta of 1.35. The stock has a fifty day simple moving average of $318.11 and a two-hundred day simple moving average of $353.24. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $418.50.

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 return on equity of 58.18% and a net margin of 16.65%. The business had revenue of $14.25 billion during the quarter, compared to the consensus estimate of $14.64 billion. During the same quarter in the previous year, the business earned $5.60 earnings per share. The firm’s revenue was down 9.8% compared to the same quarter last year. Research analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Monday, April 21st were issued a dividend of $1.41 per share. The ex-dividend date was Monday, April 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.63%. Caterpillar’s payout ratio is 27.49%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Caterpillar from $490.00 to $380.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Citigroup increased their price objective on Caterpillar from $320.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, May 5th. Raymond James raised Caterpillar from a “market perform” rating to an “outperform” rating in a research note on Monday, February 3rd. Baird R W raised Caterpillar from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 13th. Finally, Wall Street Zen downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $375.33.

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.