Waterway Wealth Management LLC Raises Holdings in Caterpillar Inc. (NYSE:CAT)

Waterway Wealth Management LLC boosted its stake in shares of Caterpillar Inc. (NYSE:CAT) by 28.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,534 shares of the industrial products company’s stock after acquiring an additional 344 shares during the quarter. Waterway Wealth Management LLC’s holdings in Caterpillar were worth $562,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of CAT. Norges Bank bought a new position in shares of Caterpillar in the 4th quarter worth approximately $1,660,560,000. International Assets Investment Management LLC lifted its holdings in shares of Caterpillar by 28,603.5% during the 4th quarter. International Assets Investment Management LLC now owns 1,494,018 shares of the industrial products company’s stock valued at $4,417,360,000 after buying an additional 1,488,813 shares during the period. Capital Wealth Planning LLC lifted its holdings in Caterpillar by 27,495.2% in the fourth quarter. Capital Wealth Planning LLC now owns 1,182,453 shares of the industrial products company’s stock valued at $349,616,000 after acquiring an additional 1,178,168 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Caterpillar by 19.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,264,635 shares of the industrial products company’s stock valued at $947,875,000 after acquiring an additional 529,420 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its holdings in Caterpillar by 5,293.1% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 482,360 shares of the industrial products company’s stock valued at $142,620,000 after acquiring an additional 473,416 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Up 1.7 %

Shares of CAT traded up $5.64 during trading hours on Friday, hitting $333.10. The company 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 price-to-earnings-growth ratio of 1.71 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 Inc. has a one year low of $223.76 and a one year high of $382.01. The company’s fifty day moving average price is $340.31 and its two-hundred day moving average price is $329.47.

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

Caterpillar Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Monday, July 22nd will be paid a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend is Monday, July 22nd. This is an increase from Caterpillar’s previous quarterly dividend of $1.30. Caterpillar’s payout ratio is presently 25.46%.

Caterpillar declared that its Board of Directors has approved a share repurchase plan on Wednesday, June 12th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits 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 of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. The Goldman Sachs Group raised 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. TD Cowen raised their price target on Caterpillar from $338.00 to $340.00 and gave the company a “buy” rating in a report on Friday, April 26th. Raymond James began coverage on Caterpillar in a report on Friday. They issued a “market perform” rating for the company. Citigroup began coverage on Caterpillar in a research note on Wednesday. They set a “buy” rating and a $380.00 price target for the company. Finally, Stifel Nicolaus lowered Caterpillar from a “buy” rating to a “hold” rating and raised their price target for the stock from $293.00 to $350.00 in a research note on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $329.63.

Insider Buying and Selling at Caterpillar

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

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.