MJP Associates Inc. ADV Grows Stock Position in Caterpillar Inc. (NYSE:CAT)

MJP Associates Inc. ADV boosted its position in Caterpillar Inc. (NYSE:CAT) by 8.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 887 shares of the industrial products company’s stock after buying an additional 68 shares during the quarter. MJP Associates Inc. ADV’s holdings in Caterpillar were worth $325,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Norges Bank purchased a new position in shares of Caterpillar in the fourth quarter valued at $1,660,560,000. International Assets Investment Management LLC increased its holdings in Caterpillar by 28,603.5% during the 4th quarter. International Assets Investment Management LLC now owns 1,494,018 shares of the industrial products company’s stock valued at $4,417,360,000 after purchasing an additional 1,488,813 shares during the period. Capital Wealth Planning LLC increased its holdings in Caterpillar by 27,495.2% during the 4th quarter. Capital Wealth Planning LLC now owns 1,182,453 shares of the industrial products company’s stock valued at $349,616,000 after purchasing an additional 1,178,168 shares during the period. Winslow Capital Management LLC increased its holdings in Caterpillar by 2,265.3% during the 3rd quarter. Winslow Capital Management LLC now owns 1,117,830 shares of the industrial products company’s stock valued at $305,168,000 after purchasing an additional 1,070,570 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Caterpillar by 19.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,264,635 shares of the industrial products company’s stock valued at $947,875,000 after purchasing an additional 529,420 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Stock Down 0.4 %

Shares of NYSE:CAT opened at $327.84 on Friday. The company has a current ratio of 1.35, a quick ratio of 0.83 and a debt-to-equity ratio of 1.41. Caterpillar Inc. has a 12 month low of $223.76 and a 12 month high of $382.01. The company has a 50-day moving average price of $343.31 and a 200 day moving average price of $326.60. The company has a market cap of $160.33 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 1.69 and a beta of 1.14.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Thursday, April 25th. The industrial products company reported $5.60 EPS for the quarter, beating analysts’ consensus estimates of $5.12 by $0.48. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. The firm had revenue of $15.80 billion during the quarter, compared to the consensus estimate of $16.07 billion. As a group, equities research analysts predict that Caterpillar Inc. will post 21.84 earnings per share for the current year.

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

Caterpillar Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Monday, July 22nd will be paid a $1.41 dividend. The ex-dividend date is Monday, July 22nd. This represents a $5.64 annualized dividend and a yield of 1.72%. This is an increase from Caterpillar’s previous quarterly dividend of $1.30. Caterpillar’s dividend payout ratio (DPR) is presently 23.48%.

Insiders Place Their Bets

In other news, Director David Maclennan acquired 500 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was acquired at an average price of $337.39 per share, with a total value of $168,695.00. Following the completion of the purchase, the director now directly owns 5,738 shares in the company, valued at $1,935,943.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Lange Bob De sold 21,847 shares of Caterpillar stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $356.90, for a total transaction of $7,797,194.30. Following the completion of the sale, the insider now owns 71,115 shares of the company’s stock, valued at $25,380,943.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Maclennan purchased 500 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were bought at an average cost of $337.39 per share, with a total value of $168,695.00. Following the purchase, the director now directly owns 5,738 shares of the company’s stock, valued at approximately $1,935,943.82. The disclosure for this purchase can be found here. 0.33% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CAT has been the topic of a number of research analyst reports. Oppenheimer reiterated a “market perform” rating on shares of Caterpillar in a report on Thursday, April 18th. JPMorgan Chase & Co. increased their price target on Caterpillar from $385.00 to $435.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. The Goldman Sachs Group increased their price target on Caterpillar from $357.00 to $408.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Stifel Nicolaus cut Caterpillar from a “buy” rating to a “hold” rating and raised their target price for the stock from $293.00 to $350.00 in a report on Friday, April 26th. Finally, Truist Financial began coverage on Caterpillar in a research note on Thursday, March 14th. They issued a “buy” rating and a $390.00 price target for the company. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Caterpillar currently has an average rating of “Hold” and a consensus target price of $327.13.

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.