Foguth Wealth Management LLC. Purchases New Position in Caterpillar Inc. (NYSE:CAT)

Foguth Wealth Management LLC. purchased a new stake in Caterpillar Inc. (NYSE:CAT) in the first quarter, HoldingsChannel reports. The fund purchased 552 shares of the industrial products company’s stock, valued at approximately $202,000.

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

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Lange Bob De sold 21,847 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 71,115 shares in the company, valued at approximately $25,380,943.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Caterpillar news, Director David Maclennan bought 500 shares of Caterpillar stock in a transaction on Friday, May 3rd. The shares were bought at an average cost of $337.39 per share, for a total transaction of $168,695.00. Following the acquisition, the director now directly owns 5,738 shares in the company, valued at $1,935,943.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lange Bob De sold 21,847 shares of the stock in a transaction that occurred on 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 sale, 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 currently owned by company insiders.

Caterpillar Price Performance

Shares of CAT stock traded up $5.64 on Friday, reaching $333.10. 8,891,479 shares of the company were exchanged, compared to its average volume of 3,519,845. The company has a market cap of $162.90 billion, a price-to-earnings ratio of 15.04, a P/E/G ratio of 1.68 and a beta of 1.14. The business has a 50-day moving average price of $340.31 and a 200 day moving average price of $329.04. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.83 and a current ratio of 1.35. Caterpillar Inc. has a 1 year low of $223.76 and a 1 year high of $382.01.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Thursday, April 25th. The industrial products company reported $5.60 earnings per share (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%. Equities research analysts forecast that Caterpillar Inc. will post 21.84 earnings per share for the current fiscal year.

Caterpillar announced that its Board of Directors has approved a share buyback plan on Wednesday, June 12th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the industrial products company to repurchase up to 12.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

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 issued a $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 1.69%. This is a positive change from Caterpillar’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Monday, July 22nd. Caterpillar’s payout ratio is presently 23.48%.

Analyst Ratings Changes

Several equities analysts have issued reports on CAT shares. HSBC lifted their price target on shares of Caterpillar from $330.00 to $360.00 and gave the stock a “hold” rating in a report on Tuesday, April 30th. JPMorgan Chase & Co. lifted their price objective on shares of Caterpillar from $385.00 to $435.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 16th. TD Cowen lifted their price objective on shares of Caterpillar from $338.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. The Goldman Sachs Group boosted their target price on shares of Caterpillar from $357.00 to $408.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, Oppenheimer restated a “market perform” rating on shares of Caterpillar in a research report on Thursday, April 18th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Caterpillar has an average rating of “Hold” and an average price target of $329.63.

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.