Aaron Wealth Advisors LLC Decreases Stake in Caterpillar Inc. (NYSE:CAT)

by · The Cerbat Gem

Aaron Wealth Advisors LLC lowered its stake in shares of Caterpillar Inc. (NYSE:CAT – Free Report) by 8.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,590 shares of the industrial products company’s stock after selling 506 shares during the period. Aaron Wealth Advisors LLC’s holdings in Caterpillar were worth $1,844,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Flagship Wealth Advisors LLC purchased a new position in Caterpillar during the fourth quarter worth about $26,000. Cyrus J. Lawrence LLC acquired a new position in Caterpillar in the fourth quarter valued at approximately $27,000. Investment Management Corp VA ADV purchased a new position in Caterpillar in the fourth quarter worth approximately $33,000. Quarry LP purchased a new stake in Caterpillar in the fourth quarter valued at $35,000. Finally, Mpwm Advisory Solutions LLC acquired a new position in shares of Caterpillar in the 4th quarter valued at $36,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Stock Up 0.7%

Caterpillar stock opened at $390.91 on Wednesday. The firm has a market capitalization of $184.13 billion, a P/E ratio of 19.05, a P/E/G 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 twelve month low of $267.30 and a twelve month high of $418.50. The stock’s fifty day simple moving average is $346.22 and its 200-day simple moving average is $346.30.

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

Caterpillar Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, July 21st will be issued a $1.51 dividend. 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 27.49%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Citigroup reissued a “buy” rating and set a $420.00 price objective (up from $370.00) on shares of Caterpillar in a research report on Tuesday, June 24th. Robert W. Baird boosted their price target on shares of Caterpillar from $395.00 to $422.00 and gave the company an “outperform” rating in a research note on Friday, June 20th. JPMorgan Chase & Co. decreased their price objective on shares of Caterpillar from $490.00 to $380.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Truist Financial lifted their target price on shares of Caterpillar from $396.00 to $414.00 and gave the company a “buy” rating in a report on Monday, June 23rd. Finally, Evercore ISI decreased their price target on Caterpillar from $375.00 to $373.00 and set an “in-line” rating on the stock in a research note on Monday, May 19th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $380.83.

Read Our Latest Analysis on CAT

Insider Buying and Selling

In other news, Director David Maclennan acquired 375 shares of Caterpillar stock in a transaction dated Wednesday, May 7th. The shares were acquired at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the acquisition, the director owned 6,653 shares of the company’s stock, valued at $2,133,617.10. This trade represents a 5.97% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.33% of the stock is owned by company insiders.

About Caterpillar

(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.

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