Foster Victor Wealth Advisors LLC Buys 127 Shares of Caterpillar Inc. (NYSE:CAT)

Foster Victor Wealth Advisors LLC increased its stake in shares of Caterpillar Inc. (NYSE:CAT) by 16.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 903 shares of the industrial products company’s stock after buying an additional 127 shares during the period. Foster Victor Wealth Advisors LLC’s holdings in Caterpillar were worth $326,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Partnership Wealth Management LLC bought a new stake in shares of Caterpillar during the fourth quarter worth approximately $26,000. Richardson Financial Services Inc. bought a new position in shares of Caterpillar during the fourth quarter worth approximately $27,000. Thompson Investment Management Inc. acquired a new stake in Caterpillar during the 1st quarter worth approximately $27,000. Bbjs Financial Advisors LLC acquired a new position in Caterpillar in the 2nd quarter valued at $28,000. Finally, Fairman Group LLC bought a new position in Caterpillar during the 1st quarter worth $29,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CAT. HSBC boosted their target price 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. Bank of America decreased their target price on shares of Caterpillar from $385.00 to $376.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Stifel Nicolaus downgraded shares of Caterpillar from a “buy” rating to a “hold” rating and lifted their price target for the company from $293.00 to $350.00 in a research report on Friday, April 26th. StockNews.com raised Caterpillar from a “hold” rating to a “buy” rating in a research report on Saturday, August 10th. Finally, UBS Group raised their price objective on Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a research note on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $337.38.

Insiders Place Their Bets

In related news, insider Cheryl H. Johnson sold 1,508 shares of the firm’s 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 transaction, the insider now owns 20,023 shares in the company, valued at approximately $6,807,820. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.33% of the company’s stock.

Caterpillar Stock Down 0.6 %

CAT stock opened at $343.48 on Friday. The firm has a 50-day moving average price of $334.48 and a 200-day moving average price of $340.55. Caterpillar Inc. has a 12 month low of $223.76 and a 12 month high of $382.01. The company has a current ratio of 1.35, a quick ratio of 0.83 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $167.98 billion, a P/E ratio of 15.51, a price-to-earnings-growth ratio of 1.72 and a beta of 1.12.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, beating the consensus estimate of $5.53 by $0.46. The business had revenue of $16.69 billion during the quarter, compared to the consensus estimate of $16.91 billion. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. The firm’s revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.55 EPS. As a group, equities research analysts anticipate that Caterpillar Inc. will post 21.57 EPS for the current fiscal year.

Caterpillar Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Monday, July 22nd will be given a dividend of $1.41 per share. The ex-dividend date is Monday, July 22nd. This represents a $5.64 dividend on an annualized basis and a yield of 1.64%. This is a positive change from Caterpillar’s previous quarterly dividend of $1.30. Caterpillar’s payout ratio is currently 25.46%.

Caterpillar announced that its board has authorized a share buyback plan on Wednesday, June 12th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the industrial products company to repurchase up to 12.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

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.