Chico Wealth RIA Buys 146 Shares of Caterpillar Inc. (NYSE:CAT)

Chico Wealth RIA increased its position in Caterpillar Inc. (NYSE:CAT) by 17.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 969 shares of the industrial products company’s stock after buying an additional 146 shares during the period. Caterpillar comprises approximately 0.3% of Chico Wealth RIA’s holdings, making the stock its 22nd largest position. Chico Wealth RIA’s holdings in Caterpillar were worth $355,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Caterpillar by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 48,353,370 shares of the industrial products company’s stock worth $14,296,641,000 after acquiring an additional 129,216 shares in the last quarter. Capital World Investors increased its position in shares of Caterpillar by 0.3% during the 4th quarter. Capital World Investors now owns 29,029,953 shares of the industrial products company’s stock valued at $8,583,372,000 after purchasing an additional 96,479 shares during the last quarter. Fisher Asset Management LLC raised its holdings in Caterpillar by 2.3% during the 4th quarter. Fisher Asset Management LLC now owns 8,145,840 shares of the industrial products company’s stock valued at $2,408,481,000 after buying an additional 179,908 shares during the period. Morgan Stanley lifted its position in Caterpillar by 0.7% in the third quarter. Morgan Stanley now owns 6,830,849 shares of the industrial products company’s stock worth $1,864,823,000 after buying an additional 47,258 shares during the last quarter. Finally, Norges Bank purchased a new position in Caterpillar during the fourth quarter worth $1,660,560,000. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Price Performance

NYSE CAT traded down $4.49 during trading hours on Monday, hitting $328.61. 1,887,015 shares of the company’s stock traded hands, compared to its average volume of 2,713,618. 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 firm’s 50-day moving average is $340.31 and its 200-day moving average is $329.47. Caterpillar Inc. has a 52-week low of $223.76 and a 52-week high of $382.01. The company has a market capitalization of $160.71 billion, a PE ratio of 14.87, a PEG ratio of 1.71 and a beta of 1.12.

Caterpillar (NYSE:CAT) last posted its quarterly 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. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. The firm had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $16.07 billion. Equities analysts forecast that Caterpillar Inc. will post 21.84 EPS for the current fiscal year.

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 issued a dividend of $1.41 per share. The ex-dividend date is Monday, July 22nd. This is a positive change from Caterpillar’s previous quarterly dividend of $1.30. This represents a $5.64 dividend on an annualized basis and a yield of 1.72%. Caterpillar’s dividend payout ratio is 23.48%.

Caterpillar declared that its Board of Directors has initiated a share repurchase program on Wednesday, June 12th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the industrial products company to repurchase up to 12.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CAT. The Goldman Sachs Group upped their price target on shares of Caterpillar from $357.00 to $408.00 and gave the company 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 stock a “buy” rating in a research note on Friday, April 26th. JPMorgan Chase & Co. upped their target price 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. Raymond James began coverage on shares of Caterpillar in a research note on Friday. They set a “market perform” rating for the company. Finally, Truist Financial assumed coverage on Caterpillar in a report on Thursday, March 14th. They issued a “buy” rating and a $390.00 price target for the company. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $329.63.

Insider Transactions at Caterpillar

In related news, insider Lange Bob De sold 21,847 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 71,115 shares of the company’s stock, valued at $25,380,943.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Caterpillar news, insider Cheryl H. Johnson sold 1,508 shares of Caterpillar stock in a transaction 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 transaction, the insider now directly owns 20,023 shares in the company, valued at $6,807,820. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Lange Bob De sold 21,847 shares of the 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 sale, the insider now owns 71,115 shares of the company’s stock, valued at approximately $25,380,943.50. The disclosure for this sale can be found here. Corporate 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.