Caterpillar Inc. (NYSE:CAT) Shares Bought by Woodmont Investment Counsel LLC

Woodmont Investment Counsel LLC increased its holdings in Caterpillar Inc. (NYSE:CAT) by 3.3% in the first quarter, HoldingsChannel.com reports. The firm owned 5,219 shares of the industrial products company’s stock after buying an additional 169 shares during the quarter. Woodmont Investment Counsel LLC’s holdings in Caterpillar were worth $1,912,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. AQR Capital Management LLC grew its position in shares of Caterpillar by 19.4% in the third quarter. AQR Capital Management LLC now owns 382,329 shares of the industrial products company’s stock valued at $104,376,000 after purchasing an additional 62,020 shares in the last quarter. Truist Financial Corp grew its position in Caterpillar by 13.3% in the third quarter. Truist Financial Corp now owns 288,579 shares of the industrial products company’s stock worth $78,782,000 after acquiring an additional 33,907 shares during the period. Glenmede Trust Co. NA grew its position in Caterpillar by 2.8% in the third quarter. Glenmede Trust Co. NA now owns 99,233 shares of the industrial products company’s stock worth $27,091,000 after acquiring an additional 2,688 shares during the period. Shelton Capital Management lifted its stake in Caterpillar by 78.2% during the third quarter. Shelton Capital Management now owns 26,584 shares of the industrial products company’s stock worth $7,257,000 after purchasing an additional 11,668 shares in the last quarter. Finally, Axxcess Wealth Management LLC lifted its stake in Caterpillar by 127.7% during the third quarter. Axxcess Wealth Management LLC now owns 17,785 shares of the industrial products company’s stock worth $4,856,000 after purchasing an additional 9,974 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Price Performance

Shares of Caterpillar stock traded down $1.00 during trading on Tuesday, hitting $328.08. 1,238,850 shares of the company were exchanged, compared to its average volume of 2,710,353. The company has a quick ratio of 0.83, a current ratio of 1.35 and a debt-to-equity ratio of 1.41. Caterpillar Inc. has a fifty-two week low of $223.76 and a fifty-two week high of $382.01. The stock has a market capitalization of $160.45 billion, a price-to-earnings ratio of 14.76, a P/E/G ratio of 1.71 and a beta of 1.12. The firm has a 50 day moving average price of $339.74 and a 200 day moving average price of $329.78.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Thursday, April 25th. The industrial products company reported $5.60 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $16.07 billion. On average, equities analysts expect that Caterpillar Inc. will post 21.84 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The company also recently announced 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. This is a boost from Caterpillar’s previous quarterly dividend of $1.30. This represents a $5.64 annualized dividend and a yield of 1.72%. The ex-dividend date is Monday, July 22nd. Caterpillar’s payout ratio is presently 23.48%.

Caterpillar declared that its board has authorized 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 reacquire up to 12.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CAT shares. TD Cowen increased their price objective on Caterpillar from $338.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Raymond James initiated coverage on Caterpillar in a report on Friday. They issued a “market perform” rating on the stock. Oppenheimer reissued a “market perform” rating on shares of Caterpillar in a report on Thursday, April 18th. Truist Financial started coverage on Caterpillar in a report on Thursday, March 14th. They issued a “buy” rating and a $390.00 target price on the stock. Finally, The Goldman Sachs Group raised their price objective on Caterpillar from $357.00 to $408.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Caterpillar has an average rating of “Hold” and an average price target of $329.63.

Insiders Place Their Bets

In other Caterpillar news, insider Cheryl H. Johnson sold 1,508 shares of Caterpillar 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 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 Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director David Maclennan acquired 500 shares of the 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 purchase, the director now directly owns 5,738 shares of the company’s stock, valued at $1,935,943.82. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Cheryl H. Johnson sold 1,508 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $340.00, for a total transaction of $512,720.00. Following the sale, the insider now directly owns 20,023 shares of the company’s stock, valued at $6,807,820. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.

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.