Cambridge Advisors Inc. Has $3.50 Million Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Cambridge Advisors Inc. decreased its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 9.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,546 shares of the industrial products company’s stock after selling 969 shares during the quarter. Caterpillar makes up about 0.8% of Cambridge Advisors Inc.’s holdings, making the stock its 21st biggest position. Cambridge Advisors Inc.’s holdings in Caterpillar were worth $3,498,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CAT. Southland Equity Partners LLC lifted its holdings in shares of Caterpillar by 4.0% during the 1st quarter. Southland Equity Partners LLC now owns 784 shares of the industrial products company’s stock worth $287,000 after acquiring an additional 30 shares during the period. Davis Investment Partners LLC increased its position in shares of Caterpillar by 2.1% during the 1st quarter. Davis Investment Partners LLC now owns 1,454 shares of the industrial products company’s stock worth $541,000 after purchasing an additional 30 shares in the last quarter. McIlrath & Eck LLC increased its position in shares of Caterpillar by 4.4% during the 4th quarter. McIlrath & Eck LLC now owns 789 shares of the industrial products company’s stock worth $233,000 after purchasing an additional 33 shares in the last quarter. Versant Capital Management Inc increased its position in shares of Caterpillar by 7.4% during the 1st quarter. Versant Capital Management Inc now owns 480 shares of the industrial products company’s stock worth $176,000 after purchasing an additional 33 shares in the last quarter. Finally, Lodestar Private Asset Management LLC increased its position in shares of Caterpillar by 4.4% during the 4th quarter. Lodestar Private Asset Management LLC now owns 830 shares of the industrial products company’s stock worth $245,000 after purchasing an additional 35 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Transactions at Caterpillar

In other Caterpillar news, Director David Maclennan acquired 500 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was bought at an average price 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Cheryl H. Johnson sold 1,508 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was 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 directly owns 20,023 shares of the company’s stock, valued at approximately $6,807,820. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director David Maclennan purchased 500 shares of Caterpillar stock in a transaction dated Friday, May 3rd. The stock was bought at an average cost of $337.39 per share, with a total value of $168,695.00. Following the completion of the transaction, the director now owns 5,738 shares in the company, valued at approximately $1,935,943.82. The disclosure for this purchase can be found here. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CAT. JPMorgan Chase & Co. raised their price objective on shares of Caterpillar from $385.00 to $435.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. Raymond James initiated coverage on shares of Caterpillar in a research report on Friday. They issued a “market perform” rating for the company. Truist Financial initiated coverage on shares of Caterpillar in a research report on Thursday, March 14th. They set a “buy” rating and a $390.00 price target for the company. HSBC lifted their price target on shares of Caterpillar from $330.00 to $360.00 and gave the stock a “hold” rating in a research report on Tuesday, April 30th. Finally, TD Cowen lifted their price objective on shares of Caterpillar from $338.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $329.63.

Caterpillar Price Performance

Shares of CAT stock opened at $333.10 on Friday. The stock has a market cap of $162.90 billion, a price-to-earnings ratio of 15.04, a PEG ratio of 1.68 and a beta of 1.14. The company has a quick ratio of 0.83, a current ratio of 1.35 and a debt-to-equity ratio of 1.41. The business’s fifty day moving average is $340.31 and its 200 day moving average is $328.57. Caterpillar Inc. has a twelve month low of $223.76 and a twelve month high of $382.01.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Thursday, April 25th. The industrial products company reported $5.60 EPS for the quarter, topping the consensus estimate of $5.12 by $0.48. The firm had revenue of $15.80 billion for the quarter, compared to the consensus estimate of $16.07 billion. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. Research analysts expect that Caterpillar Inc. will post 21.84 EPS for the current fiscal year.

Caterpillar declared that its Board of Directors has initiated a stock buyback plan on Wednesday, June 12th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the industrial products company to purchase up to 12.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Caterpillar Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Monday, July 22nd will be issued a $1.41 dividend. This is a boost from Caterpillar’s previous quarterly dividend of $1.30. The ex-dividend date is Monday, July 22nd. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.69%. Caterpillar’s payout ratio is 23.48%.

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.