Wealthcare Advisory Partners LLC Acquires 2,440 Shares of Caterpillar Inc. (NYSE:CAT)

Wealthcare Advisory Partners LLC raised its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 23.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,856 shares of the industrial products company’s stock after acquiring an additional 2,440 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Caterpillar were worth $4,711,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Revolve Wealth Partners LLC purchased a new position in shares of Caterpillar during the 1st quarter valued at $249,000. GoalVest Advisory LLC grew its position in shares of Caterpillar by 18.4% during the 1st quarter. GoalVest Advisory LLC now owns 296 shares of the industrial products company’s stock valued at $108,000 after purchasing an additional 46 shares in the last quarter. Sovereign Financial Group Inc. grew its position in shares of Caterpillar by 3.4% during the 1st quarter. Sovereign Financial Group Inc. now owns 1,810 shares of the industrial products company’s stock valued at $663,000 after purchasing an additional 60 shares in the last quarter. Brookstone Capital Management grew its position in Caterpillar by 3.2% in the first quarter. Brookstone Capital Management now owns 31,859 shares of the industrial products company’s stock worth $11,674,000 after acquiring an additional 996 shares in the last quarter. Finally, Sunbelt Securities Inc. grew its position in Caterpillar by 4.1% in the first quarter. Sunbelt Securities Inc. now owns 3,874 shares of the industrial products company’s stock worth $1,420,000 after acquiring an additional 151 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on CAT shares. Oppenheimer reiterated a “market perform” rating on shares of Caterpillar in a research report on Thursday, April 18th. JPMorgan Chase & Co. upped their target price on shares of Caterpillar from $385.00 to $435.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. Citigroup initiated coverage on shares of Caterpillar in a research report on Wednesday. They issued a “buy” rating and a $380.00 target price for the company. HSBC upped their price target 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. Finally, Raymond James initiated coverage on shares of Caterpillar in a research report on Friday. They set a “market perform” rating for the company. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $329.63.

Caterpillar Price Performance

Shares of CAT opened at $327.51 on Friday. The stock has a market cap of $160.17 billion, a PE ratio of 14.79, a price-to-earnings-growth ratio of 1.67 and a beta of 1.14. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.83 and a current ratio of 1.35. Caterpillar Inc. has a fifty-two week low of $223.76 and a fifty-two week high of $382.01. The firm’s 50-day simple moving average is $340.74 and its two-hundred day simple moving average is $328.07.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Thursday, April 25th. The industrial products company reported $5.60 earnings per share for the quarter, topping analysts’ consensus estimates of $5.12 by $0.48. The business had revenue of $15.80 billion for the quarter, compared to analysts’ expectations of $16.07 billion. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. Analysts anticipate that Caterpillar Inc. will post 21.84 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

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

Caterpillar announced that its Board of Directors has authorized a share repurchase 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 purchase up to 12.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director David Maclennan acquired 500 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was bought at an average cost of $337.39 per share, for a total transaction of $168,695.00. Following the acquisition, the director now directly owns 5,738 shares in the company, valued at $1,935,943.82. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director David Maclennan acquired 500 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was bought at an average cost of $337.39 per share, for a total transaction of $168,695.00. Following the acquisition, the director now directly owns 5,738 shares in the company, valued at $1,935,943.82. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Cheryl H. Johnson sold 1,508 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $340.00, for a total transaction of $512,720.00. Following the completion of the transaction, the insider now owns 20,023 shares of the company’s stock, valued at $6,807,820. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Company Profile

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.