Quest 10 Wealth Builders Inc. Reduces Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Quest 10 Wealth Builders Inc. cut its position in shares of Caterpillar Inc. (NYSE:CAT) by 17.7% in the first quarter, HoldingsChannel reports. The firm owned 149 shares of the industrial products company’s stock after selling 32 shares during the period. Quest 10 Wealth Builders Inc.’s holdings in Caterpillar were worth $49,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Gateway Wealth Partners LLC boosted its position in Caterpillar by 3.2% during the first quarter. Gateway Wealth Partners LLC now owns 3,779 shares of the industrial products company’s stock worth $1,246,000 after purchasing an additional 117 shares in the last quarter. Greater Midwest Financial Group LLC increased its stake in Caterpillar by 5.5% during the first quarter. Greater Midwest Financial Group LLC now owns 6,262 shares of the industrial products company’s stock worth $2,065,000 after acquiring an additional 327 shares during the last quarter. Xponance Inc. increased its stake in Caterpillar by 0.8% during the first quarter. Xponance Inc. now owns 70,671 shares of the industrial products company’s stock worth $23,307,000 after acquiring an additional 544 shares during the last quarter. Country Club Bank increased its stake in Caterpillar by 1.1% during the first quarter. Country Club Bank now owns 17,246 shares of the industrial products company’s stock worth $5,686,000 after acquiring an additional 185 shares during the last quarter. Finally, Clarity Wealth Advisors LLC acquired a new stake in shares of Caterpillar in the first quarter valued at $357,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CAT has been the subject of a number of recent research reports. Oppenheimer upgraded Caterpillar from a “market perform” rating to an “outperform” rating and set a $395.00 target price for the company in a report on Thursday, May 1st. JPMorgan Chase & Co. lifted their price target on Caterpillar from $395.00 to $475.00 and gave the stock an “overweight” rating in a report on Thursday. Evercore ISI decreased 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. Robert W. Baird boosted their target price on Caterpillar from $395.00 to $422.00 and gave the company an “outperform” rating in a report on Friday, June 20th. Finally, Truist Financial boosted their target price on Caterpillar from $396.00 to $414.00 and gave the company a “buy” rating in a report on Monday, June 23rd. Six investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $404.64.

Caterpillar Stock Down 0.6%

Shares of Caterpillar stock opened at $405.73 on Friday. The business has a 50-day moving average of $360.79 and a 200-day moving average of $348.19. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.32 and a quick ratio of 0.77. The company has a market capitalization of $191.12 billion, a PE ratio of 19.77, a P/E/G ratio of 2.71 and a beta of 1.38. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $418.50.

Caterpillar (NYSE:CAT) last announced its earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share 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 business had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.64 billion. During the same quarter in the prior year, the business earned $5.60 earnings per share. The firm’s revenue was down 9.8% on a year-over-year basis. As a group, equities analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st will be issued a $1.51 dividend. The ex-dividend date is Monday, July 21st. This represents a $6.04 dividend on an annualized basis and a yield of 1.49%. This is a boost from Caterpillar’s previous quarterly dividend of $1.41. Caterpillar’s dividend payout ratio (DPR) is currently 27.49%.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Director David Maclennan purchased 375 shares of the business’s stock in a transaction dated Wednesday, May 7th. The shares were bought at an average price of $320.70 per share, with a total value of $120,262.50. Following the completion of the acquisition, the director owned 6,653 shares in the company, valued at approximately $2,133,617.10. This represents a 5.97% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.33% of the company’s stock.

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.