Caterpillar Inc. (NYSE:CAT) Shares Acquired by JNBA Financial Advisors

by · The Cerbat Gem

JNBA Financial Advisors increased its position in shares of Caterpillar Inc. (NYSE:CAT – Free Report) by 41.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 339 shares of the industrial products company’s stock after buying an additional 100 shares during the period. JNBA Financial Advisors’ holdings in Caterpillar were worth $112,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CAT. Mather Group LLC. grew its stake in Caterpillar by 4.3% during the 1st quarter. Mather Group LLC. now owns 12,474 shares of the industrial products company’s stock valued at $4,114,000 after purchasing an additional 518 shares in the last quarter. Alta Advisers Ltd boosted its stake in shares of Caterpillar by 50.3% during the 1st quarter. Alta Advisers Ltd now owns 2,391 shares of the industrial products company’s stock valued at $789,000 after buying an additional 800 shares during the last quarter. Hixon Zuercher LLC grew its position in shares of Caterpillar by 2.5% during the first quarter. Hixon Zuercher LLC now owns 23,435 shares of the industrial products company’s stock worth $7,729,000 after buying an additional 567 shares in the last quarter. Deseret Mutual Benefit Administrators increased its stake in shares of Caterpillar by 2.1% in the first quarter. Deseret Mutual Benefit Administrators now owns 1,859 shares of the industrial products company’s stock worth $613,000 after buying an additional 38 shares during the last quarter. Finally, Smith Salley Wealth Management raised its holdings in Caterpillar by 48.0% in the first quarter. Smith Salley Wealth Management now owns 12,617 shares of the industrial products company’s stock valued at $4,161,000 after acquiring an additional 4,093 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Buying and Selling at Caterpillar

In related news, Director David Maclennan acquired 375 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were acquired at an average price of $320.70 per share, for a total transaction of $120,262.50. Following the completion of the purchase, the director directly owned 6,653 shares of the company’s stock, valued at $2,133,617.10. The trade was a 5.97% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Truist Financial raised their price objective on shares of Caterpillar from $396.00 to $414.00 and gave the stock a “buy” rating in a report on Monday, June 23rd. Bank of America boosted their price objective on Caterpillar from $335.00 to $385.00 and gave the company a “buy” rating in a report on Friday, May 30th. Evercore ISI reduced their target price on Caterpillar from $375.00 to $373.00 and set an “in-line” rating on the stock in a report on Monday, May 19th. JPMorgan Chase & Co. lowered their price target on Caterpillar from $490.00 to $380.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Finally, Oppenheimer upgraded Caterpillar from a “market perform” rating to an “outperform” rating and set a $395.00 price objective on the stock in a research note on Thursday, May 1st. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $380.83.

View Our Latest Analysis on CAT

Caterpillar Price Performance

Shares of NYSE:CAT opened at $390.91 on Wednesday. The firm’s 50 day moving average is $346.22 and its two-hundred day moving average is $346.30. The firm has a market capitalization of $184.13 billion, a P/E ratio of 19.05, a PEG ratio of 2.58 and a beta of 1.38. The company has a current ratio of 1.32, a quick ratio of 0.77 and a debt-to-equity ratio of 1.43. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $418.50.

Caterpillar (NYSE:CAT – Get Free Report) last posted its earnings results on Wednesday, April 30th. The industrial products company reported $4.25 EPS for the quarter, missing the consensus estimate of $4.35 by ($0.10). Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. The business had revenue of $14.25 billion during the quarter, compared to analyst estimates of $14.64 billion. During the same quarter in the prior year, the business earned $5.60 earnings per share. The firm’s revenue was down 9.8% compared to the same quarter last year. Analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st will be paid a dividend of $1.51 per share. This is a boost from Caterpillar’s previous quarterly dividend of $1.41. The ex-dividend date of this dividend is Monday, July 21st. This represents a $6.04 annualized dividend and a yield of 1.55%. Caterpillar’s dividend payout ratio (DPR) is presently 27.49%.

Caterpillar Profile

(Free Report)

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.

Further Reading

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