Rockingstone Advisors LLC Purchases 53 Shares of Caterpillar Inc. (NYSE:CAT)

Rockingstone Advisors LLC lifted its position in shares of Caterpillar Inc. (NYSE:CAT) by 4.1% during the first quarter, Holdings Channel.com reports. The firm owned 1,336 shares of the industrial products company’s stock after buying an additional 53 shares during the quarter. Rockingstone Advisors LLC’s holdings in Caterpillar were worth $441,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in CAT. Norges Bank bought a new position in shares of Caterpillar during the fourth quarter worth approximately $2,184,364,000. GAMMA Investing LLC increased its stake in shares of Caterpillar by 43,447.3% during the first quarter. GAMMA Investing LLC now owns 3,730,259 shares of the industrial products company’s stock worth $1,230,239,000 after purchasing an additional 3,721,693 shares during the period. Capital Research Global Investors increased its stake in shares of Caterpillar by 69.3% during the fourth quarter. Capital Research Global Investors now owns 2,924,054 shares of the industrial products company’s stock worth $1,060,730,000 after purchasing an additional 1,196,861 shares during the period. Raymond James Financial Inc. acquired a new stake in Caterpillar during the fourth quarter worth approximately $353,231,000. Finally, Proficio Capital Partners LLC grew its position in Caterpillar by 50,072.7% during the fourth quarter. Proficio Capital Partners LLC now owns 804,770 shares of the industrial products company’s stock worth $291,938,000 after buying an additional 803,166 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Insider Buying and Selling at Caterpillar

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Baird R W raised Caterpillar from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 13th. Wall Street Zen downgraded Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Citigroup raised their target price on Caterpillar from $320.00 to $370.00 and gave the company a “buy” rating in a report on Monday, May 5th. UBS Group raised Caterpillar from a “sell” rating to a “neutral” rating and raised their target price for the company from $272.00 to $357.00 in a report on Friday, May 16th. Finally, JPMorgan Chase & Co. reduced their target price on Caterpillar from $490.00 to $380.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Caterpillar has an average rating of “Moderate Buy” and an average price target of $372.92.

Caterpillar Stock Performance

Shares of Caterpillar stock opened at $358.70 on Wednesday. Caterpillar Inc. has a one year low of $267.30 and a one year high of $418.50. The firm has a market capitalization of $168.96 billion, a price-to-earnings ratio of 16.25, a PEG ratio of 1.87 and a beta of 1.37. The business has a 50-day simple moving average of $322.25 and a 200 day simple moving average of $349.19. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89.

Caterpillar (NYSE:CAT) last issued its earnings results 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). The firm had revenue of $14.25 billion during the quarter, compared to the consensus estimate of $14.64 billion. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. The business’s quarterly revenue was down 9.8% on a year-over-year basis. During the same period in the previous year, the firm earned $5.60 earnings per share. On average, research analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Monday, April 21st were paid a dividend of $1.41 per share. The ex-dividend date was Monday, April 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.57%. Caterpillar’s dividend payout ratio (DPR) is currently 27.49%.

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.