Caterpillar Inc. (NYSE:CAT) Shares Bought by Fox Hill Wealth Management

Fox Hill Wealth Management grew its stake in shares of Caterpillar Inc. (NYSE:CAT) by 16.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 2,308 shares of the industrial products company’s stock after acquiring an additional 330 shares during the period. Fox Hill Wealth Management’s holdings in Caterpillar were worth $846,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of CAT. Thompson Investment Management Inc. purchased a new stake in shares of Caterpillar in the first quarter valued at $27,000. Partnership Wealth Management LLC acquired a new stake in Caterpillar during the fourth quarter valued at $26,000. Richardson Financial Services Inc. acquired a new stake in Caterpillar during the fourth quarter valued at $27,000. Vima LLC acquired a new stake in Caterpillar during the fourth quarter valued at $30,000. Finally, Gilfoyle & Co LLC acquired a new stake in Caterpillar during the fourth quarter valued at $30,000. Institutional investors and hedge funds 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 company’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 sale, the insider now owns 71,115 shares in the company, valued at approximately $25,380,943.50. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, insider Lange Bob De sold 21,847 shares of the company’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 directly owns 71,115 shares of the company’s stock, valued at approximately $25,380,943.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Cheryl H. Johnson sold 1,508 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $340.00, for a total transaction 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 disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CAT shares. Citigroup started coverage on Caterpillar in a research report on Wednesday. They set a “buy” rating and a $380.00 price objective for the company. Truist Financial initiated coverage on Caterpillar in a research note on Thursday, March 14th. They issued a “buy” rating and a $390.00 price objective on the stock. The Goldman Sachs Group lifted their price objective on Caterpillar from $357.00 to $408.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. HSBC lifted their target price on Caterpillar from $330.00 to $360.00 and gave the stock a “hold” rating in a research report on Tuesday, April 30th. Finally, Stifel Nicolaus downgraded 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 research report on Friday, April 26th. 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $329.63.

Caterpillar Price Performance

Shares of CAT traded up $5.64 on Friday, hitting $333.10. The company’s stock had a trading volume of 8,891,479 shares, compared to its average volume of 3,519,845. The company has a market capitalization of $162.90 billion, a PE ratio of 15.04, a PEG ratio of 1.71 and a beta of 1.14. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.35 and a quick ratio of 0.83. Caterpillar Inc. has a fifty-two week low of $223.76 and a fifty-two week high of $382.01. The company has a 50 day moving average price of $340.31 and a 200 day moving average price of $329.04.

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

Caterpillar announced that its Board of Directors has initiated a stock buyback plan on Wednesday, June 12th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the industrial products company to purchase up to 12.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Caterpillar Increases Dividend

The firm 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 dividend of $1.41 per share. This is a boost 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 payout ratio is presently 25.46%.

Caterpillar 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.