Saxon Interests Inc. Has $1.10 Million Holdings in Caterpillar Inc. (NYSE:CAT)

Saxon Interests Inc. grew its position in Caterpillar Inc. (NYSE:CAT) by 323.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,010 shares of the industrial products company’s stock after buying an additional 2,300 shares during the quarter. Saxon Interests Inc.’s holdings in Caterpillar were worth $1,103,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Partnership Wealth Management LLC acquired a new stake in Caterpillar during the 4th quarter valued at $26,000. Richardson Financial Services Inc. purchased a new stake in Caterpillar in the 4th quarter worth about $27,000. Thompson Investment Management Inc. acquired a new stake in Caterpillar during the 1st quarter worth about $27,000. Gilfoyle & Co LLC purchased a new position in Caterpillar during the 4th quarter valued at about $30,000. Finally, Vima LLC acquired a new position in shares of Caterpillar in the 4th quarter valued at about $30,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CAT has been the subject of several research reports. The Goldman Sachs Group raised their price target on shares of Caterpillar from $357.00 to $408.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Citigroup initiated coverage on shares of Caterpillar in a report on Wednesday, June 26th. They set a “buy” rating and a $380.00 price target on the stock. Oppenheimer reiterated a “market perform” rating on shares of Caterpillar in a report on Thursday, April 18th. Truist Financial assumed coverage on Caterpillar in a research note on Thursday, March 14th. They issued a “buy” rating and a $390.00 target price on the stock. Finally, Raymond James assumed coverage on Caterpillar in a research note 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 company’s stock. According to data from MarketBeat, Caterpillar presently has a consensus rating of “Hold” and a consensus price target of $329.63.

Insider Activity

In other Caterpillar news, insider Lange Bob De sold 21,847 shares of the firm’s stock in a transaction on 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 sale, the insider now directly owns 71,115 shares in the company, valued at approximately $25,380,943.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Caterpillar news, insider Lange Bob De sold 21,847 shares of the company’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 value of $7,797,194.30. Following the completion of the transaction, the insider now owns 71,115 shares of the company’s stock, valued at approximately $25,380,943.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director David Maclennan acquired 500 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were purchased 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 approximately $1,935,943.82. The disclosure for this purchase can be found here. 0.33% of the stock is owned by company insiders.

Caterpillar Stock Performance

NYSE:CAT traded down $1.34 during midday trading on Tuesday, reaching $327.74. The stock had a trading volume of 2,119,834 shares, compared to its average volume of 2,717,345. The stock has a market capitalization of $160.28 billion, a P/E ratio of 14.80, 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 company has a debt-to-equity ratio of 1.41, a current ratio of 1.35 and a quick ratio of 0.83. The firm’s fifty day simple moving average is $339.03 and its 200-day simple moving average is $330.08.

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, beating 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 company had revenue of $15.80 billion for the quarter, compared to the consensus estimate of $16.07 billion. On average, equities research analysts forecast that Caterpillar Inc. will post 21.84 EPS for the current fiscal year.

Caterpillar Increases Dividend

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

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

Caterpillar 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.