Caterpillar Inc. (NYSE:CAT) Shares Acquired by Financial Partners Group Inc

Financial Partners Group Inc lifted its stake in Caterpillar Inc. (NYSE:CAT) by 3.6% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,515 shares of the industrial products company’s stock after purchasing an additional 53 shares during the quarter. Financial Partners Group Inc’s holdings in Caterpillar were worth $505,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CAT. Axxcess Wealth Management LLC boosted its stake in shares of Caterpillar by 20.0% in the fourth quarter. Axxcess Wealth Management LLC now owns 21,343 shares of the industrial products company’s stock valued at $6,310,000 after purchasing an additional 3,558 shares during the period. Acadian Asset Management LLC boosted its position in Caterpillar by 17.2% in the 1st quarter. Acadian Asset Management LLC now owns 9,037 shares of the industrial products company’s stock valued at $3,308,000 after buying an additional 1,327 shares during the period. Catalyst Financial Partners LLC grew its stake in shares of Caterpillar by 1.5% in the fourth quarter. Catalyst Financial Partners LLC now owns 4,295 shares of the industrial products company’s stock worth $1,270,000 after acquiring an additional 63 shares in the last quarter. Diversify Advisory Services LLC purchased a new stake in shares of Caterpillar during the first quarter worth $926,000. Finally, Aigen Investment Management LP acquired a new stake in shares of Caterpillar in the fourth quarter valued at $222,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CAT shares. Barclays upped their price target on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. Bank of America decreased their price target on shares of Caterpillar from $385.00 to $376.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. HSBC increased their price objective on shares of Caterpillar from $330.00 to $360.00 and gave the company a “hold” rating in a research report on Tuesday, April 30th. Raymond James assumed coverage on shares of Caterpillar in a research note on Friday, June 28th. They set a “market perform” rating for the company. Finally, UBS Group raised their price target on Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research note on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $337.38.

Caterpillar Stock Performance

Shares of CAT traded down $2.16 during mid-day trading on Friday, reaching $343.48. 2,483,755 shares of the company’s stock were exchanged, compared to its average volume of 2,730,877. The business’s fifty day simple moving average is $334.48 and its 200-day simple moving average is $340.83. The stock has a market capitalization of $167.98 billion, a PE ratio of 15.51, a price-to-earnings-growth ratio of 1.72 and a beta of 1.12. Caterpillar Inc. has a 52-week low of $223.76 and a 52-week high of $382.01. 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 (NYSE:CAT) last posted its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, beating analysts’ consensus estimates of $5.53 by $0.46. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. The company had revenue of $16.69 billion for the quarter, compared to analyst estimates of $16.91 billion. During the same period in the previous year, the business posted $5.55 earnings per share. Caterpillar’s quarterly revenue was down 3.6% on a year-over-year basis. On average, equities research analysts expect that Caterpillar Inc. will post 21.57 earnings per share for the current year.

Caterpillar Increases Dividend

The business also recently disclosed 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 represents a $5.64 dividend on an annualized basis and a yield of 1.64%. This is a boost from Caterpillar’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Monday, July 22nd. Caterpillar’s dividend payout ratio (DPR) is presently 25.46%.

Caterpillar declared that its Board of Directors has authorized a share buyback program on Wednesday, June 12th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the industrial products company to buy up to 12.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other news, insider Cheryl H. Johnson sold 1,508 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $350.00, for a total value of $527,800.00. Following the completion of the sale, the insider now owns 18,515 shares in the company, valued at approximately $6,480,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.33% of the company’s stock.

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.