Stratos Wealth Partners LTD. raised its holdings in Caterpillar Inc. (NYSE:CAT) by 13.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,342 shares of the industrial products company’s stock after buying an additional 1,817 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Caterpillar were worth $3,557,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. Brand Asset Management Group Inc. purchased a new position in shares of Caterpillar in the 1st quarter valued at approximately $26,000. IronBridge Private Wealth LLC purchased a new position in shares of Caterpillar in the 4th quarter valued at approximately $30,000. HBC Financial Services PLLC purchased a new position in shares of Caterpillar in the 4th quarter valued at approximately $31,000. Flagship Private Wealth LLC purchased a new position in shares of Caterpillar in the 4th quarter valued at approximately $32,000. Finally, Wolff Wiese Magana LLC purchased a new position in shares of Caterpillar in the 4th quarter valued at approximately $33,000. Hedge funds and other institutional investors own 67.48% of the company’s stock.
Shares of CAT opened at $228.17 on Tuesday. The firm has a market cap of $124.42 billion, a PE ratio of 37.97, a P/E/G ratio of 2.14 and a beta of 0.97. The company has a current ratio of 1.54, a quick ratio of 1.08 and a debt-to-equity ratio of 1.74. The stock has a fifty day moving average price of $229.81 and a 200-day moving average price of $196.91. Caterpillar Inc. has a 12 month low of $100.22 and a 12 month high of $237.78.
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 20th. Shareholders of record on Monday, April 26th will be given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 1.81%. The ex-dividend date is Friday, April 23rd. Caterpillar’s dividend payout ratio is currently 37.25%.
A number of research analysts have issued reports on CAT shares. Stifel Nicolaus lifted their price objective on Caterpillar from $222.00 to $245.00 and gave the company a “buy” rating in a research note on Monday. Credit Suisse Group lifted their price objective on Caterpillar from $228.00 to $235.00 and gave the company an “outperform” rating in a research note on Monday, February 1st. BMO Capital Markets boosted their price target on Caterpillar from $190.00 to $230.00 and gave the stock a “market perform” rating in a research note on Friday. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their price target on Caterpillar from $205.00 to $245.00 in a research note on Tuesday, March 16th. Finally, Morgan Stanley lifted their price objective on Caterpillar from $168.00 to $181.00 and gave the stock an “underweight” rating in a report on Friday. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $205.37.
In other Caterpillar news, insider Denise C. Johnson sold 80,695 shares of the stock in a transaction dated Monday, March 8th. The stock was sold at an average price of $219.82, for a total transaction of $17,738,374.90. Following the sale, the insider now directly owns 38,945 shares of the company’s stock, valued at approximately $8,560,889.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Gary Michael Marvel sold 5,056 shares of the stock in a transaction dated Monday, March 8th. The stock was sold at an average price of $220.97, for a total value of $1,117,224.32. Following the sale, the chief accounting officer now directly owns 5,623 shares in the company, valued at $1,242,514.31. The disclosure for this sale can be found here. Insiders have sold a total of 145,062 shares of company stock worth $31,884,447 over the last ninety days. 0.31% of the stock is owned by insiders.
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives worldwide. Its Construction Industries segment offers asphalt pavers, compactors, cold planers, motorgraders, pipelayers, road reclaimers, telehandlers, and utility vehicles; backhoe, compact track, multi-terrain, skid steer, and track-type loaders; forestry and wheel excavators; and site prep and track-type tractors.
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