Ameliora Wealth Management Ltd. Takes Position in Caterpillar Inc. (NYSE:CAT)

Ameliora Wealth Management Ltd. bought a new stake in shares of Caterpillar Inc. (NYSE:CAT) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 500 shares of the industrial products company’s stock, valued at approximately $183,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Partnership Wealth Management LLC purchased a new position in Caterpillar during the 4th quarter valued at $26,000. Richardson Financial Services Inc. acquired a new position in Caterpillar during the 4th quarter valued at about $27,000. Thompson Investment Management Inc. acquired a new position in Caterpillar during the 1st quarter valued at about $27,000. Gilfoyle & Co LLC acquired a new position in Caterpillar during the 4th quarter valued at about $30,000. Finally, Vima LLC acquired a new position in shares of Caterpillar in the fourth quarter valued at about $30,000. Institutional investors own 70.98% of the company’s stock.

Insider Activity at Caterpillar

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

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Truist Financial assumed coverage on Caterpillar in a research report on Thursday, March 14th. They set a “buy” rating and a $390.00 price target on the stock. Citigroup assumed coverage on Caterpillar in a research note on Wednesday. They set a “buy” rating and a $380.00 target price for the company. Oppenheimer restated a “market perform” rating on shares of Caterpillar in a research report on Thursday, April 18th. HSBC raised their price target on Caterpillar from $330.00 to $360.00 and gave the stock a “hold” rating in a research report on Tuesday, April 30th. Finally, Raymond James assumed coverage on Caterpillar in a report on Friday. They issued a “market perform” rating for the company. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $329.63.

Caterpillar Price Performance

Caterpillar stock traded up $5.64 during trading hours on Friday, hitting $333.10. 8,891,204 shares of the stock were exchanged, compared to its average volume of 2,719,476. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.83 and a current ratio of 1.35. The stock has a market capitalization of $162.90 billion, a P/E ratio of 15.04, a P/E/G ratio of 1.67 and a beta of 1.14. Caterpillar Inc. has a 12 month low of $223.76 and a 12 month high of $382.01. The business’s 50-day moving average is $340.31 and its two-hundred day moving average is $328.57.

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

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

Caterpillar Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Monday, July 22nd will be given a dividend of $1.41 per share. This is an increase from Caterpillar’s previous quarterly dividend of $1.30. The ex-dividend date is Monday, July 22nd. This represents a $5.64 annualized dividend and a dividend yield of 1.69%. Caterpillar’s dividend payout ratio is currently 23.48%.

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.