Fidelity D & D Bancorp Inc. Takes Position in Caterpillar Inc. (NYSE:CAT)

Fidelity D & D Bancorp Inc. purchased a new position in shares of Caterpillar Inc. (NYSE:CAT) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 576 shares of the industrial products company’s stock, valued at approximately $211,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CAT. Partnership Wealth Management LLC bought a new position in Caterpillar during the fourth quarter worth about $26,000. Richardson Financial Services Inc. bought a new position in shares of Caterpillar in the fourth quarter valued at approximately $27,000. Thompson Investment Management Inc. bought a new position in shares of Caterpillar in the first quarter valued at approximately $27,000. Gilfoyle & Co LLC acquired a new stake in shares of Caterpillar in the fourth quarter valued at approximately $30,000. Finally, Vima LLC acquired a new stake in shares of Caterpillar in the fourth quarter valued at approximately $30,000. Institutional investors own 70.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Truist Financial assumed coverage on shares of Caterpillar in a report on Thursday, March 14th. They issued a “buy” rating and a $390.00 price target for the company. Oppenheimer reaffirmed a “market perform” rating on shares of Caterpillar in a report on Thursday, April 18th. Stifel Nicolaus lowered shares of Caterpillar from a “buy” rating to a “hold” rating and lifted their target price for the stock from $293.00 to $350.00 in a report on Friday, April 26th. HSBC lifted their target price on shares of Caterpillar from $330.00 to $360.00 and gave the stock a “hold” rating in a report on Tuesday, April 30th. Finally, TD Cowen lifted their price target on shares of Caterpillar from $338.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Caterpillar currently has a consensus rating of “Hold” and a consensus price target of $329.63.

Insider Buying and Selling at Caterpillar

In related news, Director David Maclennan purchased 500 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was purchased at an average cost of $337.39 per share, with a total value of $168,695.00. Following the completion of the purchase, the director now owns 5,738 shares in the company, valued at approximately $1,935,943.82. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director David Maclennan purchased 500 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were acquired at an average cost of $337.39 per share, for a total transaction of $168,695.00. Following the completion of the acquisition, the director now owns 5,738 shares in the company, valued at $1,935,943.82. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Lange Bob De sold 21,847 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $356.90, for a total transaction of $7,797,194.30. Following the transaction, the insider now owns 71,115 shares in the company, valued at $25,380,943.50. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Stock Performance

Shares of NYSE:CAT traded up $5.64 on Friday, reaching $333.10. 8,891,479 shares of the company’s stock were exchanged, compared to its average volume of 3,519,845. The company has a fifty day moving average of $340.31 and a 200-day moving average of $328.57. Caterpillar Inc. has a twelve month low of $223.76 and a twelve month high of $382.01. The company has a market capitalization of $162.90 billion, a price-to-earnings ratio of 15.04, a PEG ratio of 1.68 and a beta of 1.14. The company has a current ratio of 1.35, a quick ratio of 0.83 and a debt-to-equity ratio of 1.41.

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 firm had revenue of $15.80 billion for the quarter, compared to analyst estimates of $16.07 billion. On average, research analysts predict that Caterpillar Inc. will post 21.84 EPS for the current fiscal year.

Caterpillar Increases Dividend

The firm also recently declared 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 a boost from Caterpillar’s previous quarterly dividend of $1.30. This represents a $5.64 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend is Monday, July 22nd. Caterpillar’s dividend payout ratio is 23.48%.

Caterpillar declared that its Board of Directors has approved a share buyback program on Wednesday, June 12th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to buy up to 12.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.