Hengehold Capital Management LLC Has $403,000 Position in Caterpillar Inc. (NYSE:CAT)

Hengehold Capital Management LLC boosted its position in Caterpillar Inc. (NYSE:CAT) by 3.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,099 shares of the industrial products company’s stock after purchasing an additional 37 shares during the period. Hengehold Capital Management LLC’s holdings in Caterpillar were worth $403,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Thompson Investment Management Inc. bought a new stake in shares of Caterpillar in the 1st quarter valued at about $27,000. Partnership Wealth Management LLC bought a new stake in shares of Caterpillar during the 4th quarter valued at about $26,000. Richardson Financial Services Inc. bought a new stake in shares of Caterpillar during the 4th quarter valued at about $27,000. Vima LLC bought a new stake in shares of Caterpillar during the 4th quarter valued at about $30,000. Finally, Gilfoyle & Co LLC bought a new stake in shares of Caterpillar during the 4th quarter valued at about $30,000. Institutional investors own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

CAT has been the topic of several research analyst reports. Citigroup initiated coverage on Caterpillar in a research report on Wednesday. They set a “buy” rating and a $380.00 target price on the stock. Truist Financial initiated coverage on Caterpillar in a research report on Thursday, March 14th. They set a “buy” rating and a $390.00 target price on the stock. Raymond James initiated coverage on Caterpillar in a research report on Friday. They set a “market perform” rating on the stock. TD Cowen increased their price target on Caterpillar from $338.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Finally, The Goldman Sachs Group increased their price target on Caterpillar from $357.00 to $408.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $329.63.

Insiders Place Their Bets

In other Caterpillar news, insider Cheryl H. Johnson sold 1,508 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $340.00, for a total value of $512,720.00. Following the completion of the sale, the insider now directly owns 20,023 shares of the company’s stock, valued at $6,807,820. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Cheryl H. Johnson sold 1,508 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $340.00, for a total value of $512,720.00. Following the completion of the transaction, the insider now directly owns 20,023 shares of the company’s stock, valued at $6,807,820. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Lange Bob De sold 21,847 shares of Caterpillar stock in a transaction on Monday, May 13th. The shares were sold at an average price of $356.90, for a total value of $7,797,194.30. Following the sale, the insider now directly owns 71,115 shares of the company’s stock, valued at approximately $25,380,943.50. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Caterpillar Stock Performance

Shares of CAT traded up $3.77 on Friday, reaching $331.23. 1,863,576 shares of the company’s stock traded hands, compared to its average volume of 2,663,167. The company has a current ratio of 1.35, a quick ratio of 0.83 and a debt-to-equity ratio of 1.41. The stock has a market cap of $161.99 billion, a PE ratio of 14.99, a PEG ratio of 1.67 and a beta of 1.14. The stock’s 50 day simple moving average is $340.74 and its two-hundred day simple moving average is $328.07. Caterpillar Inc. has a 52-week low of $223.76 and a 52-week high of $382.01.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Thursday, April 25th. The industrial products company reported $5.60 EPS for the quarter, beating analysts’ consensus estimates of $5.12 by $0.48. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. The company had revenue of $15.80 billion during the quarter, compared to the consensus estimate of $16.07 billion. On average, analysts forecast that Caterpillar Inc. will post 21.84 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Monday, July 22nd will be given a $1.41 dividend. This is an increase from Caterpillar’s previous quarterly dividend of $1.30. This represents a $5.64 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Monday, July 22nd. Caterpillar’s dividend payout ratio (DPR) is currently 23.48%.

Caterpillar announced that its board has initiated a stock buyback plan on Wednesday, June 12th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the industrial products company to buy up to 12.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

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.