Caterpillar Inc. (NYSE:CAT) is Monument Capital Management’s 9th Largest Position

Monument Capital Management lowered its position in Caterpillar Inc. (NYSE:CAT) by 3.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,135 shares of the industrial products company’s stock after selling 539 shares during the quarter. Caterpillar makes up about 1.6% of Monument Capital Management’s holdings, making the stock its 9th biggest holding. Monument Capital Management’s holdings in Caterpillar were worth $5,546,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. Sloy Dahl & Holst LLC purchased a new stake in shares of Caterpillar during the 1st quarter worth approximately $207,000. Tower Wealth Partners Inc. lifted its position in shares of Caterpillar by 13.1% during the 1st quarter. Tower Wealth Partners Inc. now owns 1,043 shares of the industrial products company’s stock worth $382,000 after buying an additional 121 shares during the last quarter. Saxon Interests Inc. lifted its position in shares of Caterpillar by 323.9% during the 1st quarter. Saxon Interests Inc. now owns 3,010 shares of the industrial products company’s stock worth $1,103,000 after buying an additional 2,300 shares during the last quarter. West Oak Capital LLC lifted its position in shares of Caterpillar by 16.9% during the 1st quarter. West Oak Capital LLC now owns 5,287 shares of the industrial products company’s stock worth $1,937,000 after buying an additional 765 shares during the last quarter. Finally, Measured Wealth Private Client Group LLC lifted its position in shares of Caterpillar by 81.2% during the 1st quarter. Measured Wealth Private Client Group LLC now owns 2,105 shares of the industrial products company’s stock worth $771,000 after buying an additional 943 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Transactions at Caterpillar

In related news, insider Cheryl H. Johnson sold 1,508 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $340.00, for a total value of $512,720.00. Following the sale, the insider now directly owns 20,023 shares in the company, valued at approximately $6,807,820. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Caterpillar news, insider Lange Bob De sold 21,847 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $356.90, for a total value of $7,797,194.30. Following the transaction, the insider now directly owns 71,115 shares in the company, valued at approximately $25,380,943.50. The transaction 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 company’s stock in a transaction dated Thursday, May 30th. The shares were 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 in the company, 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 Price Performance

Shares of NYSE:CAT traded up $2.42 on Wednesday, reaching $330.18. 537,465 shares of the company were exchanged, compared to its average volume of 2,700,180. 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 1-year low of $223.76 and a 1-year high of $382.01. The firm has a market cap of $161.47 billion, a price-to-earnings ratio of 14.90, a price-to-earnings-growth ratio of 1.71 and a beta of 1.12. The company has a 50-day moving average of $339.03 and a 200-day moving average of $330.08.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results 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. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. The business had revenue of $15.80 billion for the quarter, compared to analysts’ expectations of $16.07 billion. Equities analysts forecast that Caterpillar Inc. will post 21.8 earnings per share for the current fiscal year.

Caterpillar declared that its board has approved a share 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 reacquire up to 12.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

Caterpillar Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Monday, July 22nd will be paid a dividend of $1.41 per share. The ex-dividend date of this dividend is Monday, July 22nd. This is a boost from Caterpillar’s previous quarterly dividend of $1.30. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.71%. Caterpillar’s dividend payout ratio is 23.48%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Truist Financial assumed coverage on shares of Caterpillar in a research report on Thursday, March 14th. They set a “buy” rating and a $390.00 price objective for the company. JPMorgan Chase & Co. lifted their target price on shares of Caterpillar from $385.00 to $435.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. Citigroup initiated coverage on shares of Caterpillar in a report on Wednesday, June 26th. They issued a “buy” rating and a $380.00 target price on the stock. TD Cowen lifted their target price on shares of Caterpillar from $338.00 to $340.00 and gave the company a “buy” rating in a report on Friday, April 26th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Caterpillar in a report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $329.63.

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.