IVC Wealth Advisors LLC Purchases 127 Shares of Caterpillar Inc. (NYSE:CAT)

IVC Wealth Advisors LLC boosted its position in Caterpillar Inc. (NYSE:CAT) by 3.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 4,131 shares of the industrial products company’s stock after acquiring an additional 127 shares during the period. Caterpillar accounts for approximately 0.9% of IVC Wealth Advisors LLC’s portfolio, making the stock its 27th largest holding. IVC Wealth Advisors LLC’s holdings in Caterpillar were worth $1,514,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in Caterpillar in the 4th quarter valued at approximately $1,660,560,000. International Assets Investment Management LLC boosted its holdings in shares of Caterpillar by 28,603.5% in the fourth quarter. International Assets Investment Management LLC now owns 1,494,018 shares of the industrial products company’s stock worth $4,417,360,000 after acquiring an additional 1,488,813 shares during the period. Capital Wealth Planning LLC grew its position in shares of 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 purchasing an additional 1,178,168 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Caterpillar by 19.4% during the 4th 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 purchasing an additional 529,420 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its holdings in Caterpillar by 5,293.1% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 482,360 shares of the industrial products company’s stock worth $142,620,000 after purchasing an additional 473,416 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Cheryl H. Johnson sold 1,508 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $340.00, for a total value of $512,720.00. Following the completion of the sale, 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 Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Lange Bob De sold 21,847 shares of the company’s stock in a transaction that occurred on 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 sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Cheryl H. Johnson sold 1,508 shares of Caterpillar 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. Company insiders own 0.33% of the company’s stock.

Caterpillar Stock Performance

NYSE CAT traded up $2.85 during trading hours on Wednesday, hitting $330.61. The company’s stock had a trading volume of 1,351,168 shares, compared to its average volume of 2,706,595. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.35 and a quick ratio of 0.83. The company has a market cap of $161.68 billion, a P/E ratio of 14.93, a price-to-earnings-growth ratio of 1.71 and a beta of 1.12. The company’s 50 day simple moving average is $338.37 and its two-hundred day simple moving average is $330.08. Caterpillar Inc. has a 12 month low of $223.76 and a 12 month high of $382.01.

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 the consensus estimate of $5.12 by $0.48. The business had revenue of $15.80 billion for the quarter, compared to analysts’ expectations of $16.07 billion. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. As a group, sell-side analysts expect that Caterpillar Inc. will post 21.8 EPS for the current fiscal year.

Caterpillar declared that its board has approved a stock buyback program on Wednesday, June 12th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the industrial products company to buy up to 12.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Caterpillar Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Monday, July 22nd will be issued a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a yield of 1.71%. The ex-dividend date is Monday, July 22nd. This is a positive change from Caterpillar’s previous quarterly dividend of $1.30. Caterpillar’s payout ratio is currently 23.48%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CAT shares. The Goldman Sachs Group increased their price target on shares of Caterpillar from $357.00 to $408.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. TD Cowen raised their price target on shares of Caterpillar from $338.00 to $340.00 and gave the company a “buy” rating in a report on Friday, April 26th. Stifel Nicolaus cut shares of Caterpillar from a “buy” rating to a “hold” rating and upped their price target for the stock from $293.00 to $350.00 in a report on Friday, April 26th. Raymond James initiated coverage on Caterpillar in a research note on Friday, June 28th. They set a “market perform” rating for the company. Finally, Truist Financial began coverage on Caterpillar in a research note on Thursday, March 14th. They issued a “buy” rating and a $390.00 target price on the stock. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $329.63.

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.