Keebeck Wealth Management Has $1.56 Million Holdings in Caterpillar Inc. $CAT

Keebeck Wealth Management boosted its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 90.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,205 shares of the industrial products company’s stock after buying an additional 1,046 shares during the quarter. Keebeck Wealth Management’s holdings in Caterpillar were worth $1,562,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Caterpillar by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 46,385,185 shares of the industrial products company’s stock valued at $26,572,681,000 after acquiring an additional 442,164 shares in the last quarter. State Street Corp boosted its position in Caterpillar by 1.1% during the fourth quarter. State Street Corp now owns 35,388,550 shares of the industrial products company’s stock worth $20,273,039,000 after purchasing an additional 385,204 shares during the period. Geode Capital Management LLC grew its holdings in Caterpillar by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 10,610,182 shares of the industrial products company’s stock valued at $6,072,572,000 after purchasing an additional 94,524 shares during the last quarter. Fisher Asset Management LLC grew its holdings in Caterpillar by 0.6% during the fourth quarter. Fisher Asset Management LLC now owns 9,493,266 shares of the industrial products company’s stock valued at $5,438,408,000 after purchasing an additional 54,069 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Caterpillar by 16.0% in the fourth quarter. Bank of America Corp DE now owns 6,738,802 shares of the industrial products company’s stock worth $3,860,457,000 after buying an additional 928,974 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.

Insider Transactions at Caterpillar

In other news, CFO Andrew R. J. Bonfield sold 15,674 shares of Caterpillar stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $918.71, for a total transaction of $14,399,860.54. Following the sale, the chief financial officer directly owned 52,935 shares in the company, valued at approximately $48,631,913.85. The trade was a 22.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO William E. Schaupp sold 360 shares of the company’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $906.00, for a total transaction of $326,160.00. Following the completion of the sale, the chief accounting officer directly owned 530 shares in the company, valued at approximately $480,180. The trade was a 40.45% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 95,773 shares of company stock worth $87,642,635. 0.33% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Jefferies Financial Group upped their price objective on shares of Caterpillar from $900.00 to $1,045.00 and gave the stock a “buy” rating in a report on Friday, May 1st. UBS Group restated a “neutral” rating and set a $900.00 price target on shares of Caterpillar in a report on Tuesday, June 2nd. Bank of America raised their price target on Caterpillar from $930.00 to $989.00 and gave the company a “buy” rating in a research report on Friday, May 1st. DA Davidson lifted their price objective on Caterpillar from $650.00 to $845.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Finally, Daiwa Securities Group increased their target price on Caterpillar from $790.00 to $900.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Fifteen analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, Caterpillar presently has a consensus rating of “Moderate Buy” and an average price target of $980.57.

Caterpillar Stock Up 0.4%

NYSE CAT opened at $893.02 on Friday. The firm has a 50-day simple moving average of $928.87 and a 200 day simple moving average of $803.52. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.81 and a current ratio of 1.35. The stock has a market cap of $411.32 billion, a PE ratio of 44.45, a PEG ratio of 1.74 and a beta of 1.57. Caterpillar Inc. has a twelve month low of $405.46 and a twelve month high of $1,073.46.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Thursday, April 30th. The industrial products company reported $5.54 earnings per share for the quarter, topping the consensus estimate of $4.65 by $0.89. The company had revenue of $17.41 billion for the quarter, compared to analyst estimates of $16.53 billion. Caterpillar had a return on equity of 48.21% and a net margin of 13.33%.Caterpillar’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same quarter last year, the firm earned $4.25 EPS. On average, research analysts forecast that Caterpillar Inc. will post 24.87 EPS for the current year.

Caterpillar Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Monday, July 20th will be paid a dividend of $1.63 per share. This is an increase from Caterpillar’s previous quarterly dividend of $1.51. This represents a $6.52 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Monday, July 20th. Caterpillar’s dividend payout ratio is presently 32.45%.

Caterpillar Company 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.