Eagle Capital Management LLC Takes $249,000 Position in Caterpillar Inc. (NYSE:CAT)

Eagle Capital Management LLC acquired a new stake in Caterpillar Inc. (NYSE:CAT) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 679 shares of the industrial products company’s stock, valued at approximately $249,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of CAT. Steele Capital Management Inc. purchased a new position in Caterpillar during the 1st quarter worth approximately $234,000. Silvia Mccoll Wealth Management LLC grew its stake in Caterpillar by 6.9% in the 1st quarter. Silvia Mccoll Wealth Management LLC now owns 1,822 shares of the industrial products company’s stock valued at $678,000 after acquiring an additional 118 shares during the period. Claro Advisors LLC grew its stake in Caterpillar by 23.9% in the 1st quarter. Claro Advisors LLC now owns 1,616 shares of the industrial products company’s stock valued at $592,000 after acquiring an additional 312 shares during the period. Miracle Mile Advisors LLC boosted its stake in Caterpillar by 7.7% during the 1st quarter. Miracle Mile Advisors LLC now owns 4,667 shares of the industrial products company’s stock worth $1,710,000 after purchasing an additional 334 shares during the last quarter. Finally, Chico Wealth RIA boosted its stake in Caterpillar by 17.7% during the 1st quarter. Chico Wealth RIA now owns 969 shares of the industrial products company’s stock worth $355,000 after purchasing an additional 146 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on CAT shares. The Goldman Sachs Group lifted their price target on Caterpillar from $357.00 to $408.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Raymond James initiated coverage on shares of Caterpillar in a research note on Friday. They set a “market perform” rating on the stock. Citigroup started coverage on shares of Caterpillar in a research note on Wednesday, June 26th. They set a “buy” rating and a $380.00 price target on the stock. HSBC boosted their price objective on Caterpillar from $330.00 to $360.00 and gave the stock a “hold” rating in a research report on Tuesday, April 30th. Finally, JPMorgan Chase & Co. upped 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. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Caterpillar currently has a consensus rating of “Hold” and an average target price of $329.63.

Caterpillar Price Performance

Caterpillar stock traded down $0.31 during trading hours on Tuesday, hitting $328.77. The stock had a trading volume of 213,373 shares, compared to its average volume of 2,702,214. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.35 and a quick ratio of 0.83. The stock has a market capitalization of $160.78 billion, a price-to-earnings ratio of 14.86, a PEG ratio of 1.71 and a beta of 1.12. Caterpillar Inc. has a 1-year low of $223.76 and a 1-year high of $382.01. The stock’s fifty day moving average is $339.74 and its two-hundred day moving average is $329.78.

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

Caterpillar Increases Dividend

The company also recently disclosed 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 represents a $5.64 dividend on an annualized basis and a dividend yield of 1.72%. This is an increase from Caterpillar’s previous quarterly dividend of $1.30. The ex-dividend date is Monday, July 22nd. Caterpillar’s dividend payout ratio (DPR) is 23.48%.

Caterpillar declared that its Board of Directors has approved a share buyback program on Wednesday, June 12th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the industrial products company to repurchase up to 12.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Caterpillar

In related news, insider Lange Bob De sold 21,847 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $356.90, for a total transaction of $7,797,194.30. Following the sale, the insider now directly owns 71,115 shares in the company, valued at approximately $25,380,943.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Caterpillar news, insider Lange Bob De sold 21,847 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was 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 in the company, valued at approximately $25,380,943.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Cheryl H. Johnson sold 1,508 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $340.00, for a total value of $512,720.00. Following the completion of the sale, 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. Company 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.