180 Wealth Advisors LLC Increases Stake in Caterpillar Inc. (NYSE:CAT)

180 Wealth Advisors LLC grew its holdings in Caterpillar Inc. (NYSE:CAT) by 38.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,151 shares of the industrial products company’s stock after buying an additional 883 shares during the period. 180 Wealth Advisors LLC’s holdings in Caterpillar were worth $1,155,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Bank of Nova Scotia increased its holdings in shares of Caterpillar by 12.5% in the third quarter. Bank of Nova Scotia now owns 47,708 shares of the industrial products company’s stock valued at $13,024,000 after purchasing an additional 5,317 shares during the last quarter. Toronto Dominion Bank raised its stake in Caterpillar by 10.2% during the third quarter. Toronto Dominion Bank now owns 298,830 shares of the industrial products company’s stock worth $81,581,000 after purchasing an additional 27,712 shares during the period. Morningstar Investment Services LLC purchased a new stake in shares of Caterpillar in the 3rd quarter valued at approximately $366,000. Cape Cod Five Cents Savings Bank raised its position in shares of Caterpillar by 91.9% during the 3rd quarter. Cape Cod Five Cents Savings Bank now owns 5,148 shares of the industrial products company’s stock valued at $1,405,000 after buying an additional 2,466 shares during the period. Finally, CWA Asset Management Group LLC grew its position in Caterpillar by 9.7% in the third quarter. CWA Asset Management Group LLC now owns 4,307 shares of the industrial products company’s stock worth $1,176,000 after acquiring an additional 381 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Stock Up 0.2 %

NYSE CAT traded up $0.78 during trading on Thursday, reaching $327.51. 1,994,666 shares of the company’s stock were exchanged, compared to its average volume of 2,670,109. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.83 and a current ratio of 1.35. Caterpillar Inc. has a 1 year low of $223.76 and a 1 year high of $382.01. The stock has a market cap of $160.17 billion, a P/E ratio of 14.79, a price-to-earnings-growth ratio of 1.68 and a beta of 1.14. The company has a 50 day moving average price of $340.74 and a two-hundred day moving average price of $328.07.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Thursday, April 25th. The industrial products company reported $5.60 EPS for the quarter, beating the consensus estimate of $5.12 by $0.48. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. The company had revenue of $15.80 billion for the quarter, compared to analyst estimates of $16.07 billion. On average, equities research analysts anticipate that Caterpillar Inc. will post 21.84 EPS for the current fiscal year.

Caterpillar Increases Dividend

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

Caterpillar declared that its board has initiated a stock repurchase program on Wednesday, June 12th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the industrial products company to purchase up to 12.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Truist Financial assumed coverage on Caterpillar in a research note on Thursday, March 14th. They issued a “buy” rating and a $390.00 price target on the stock. Oppenheimer reiterated a “market perform” rating on shares of Caterpillar in a research report on Thursday, April 18th. Citigroup started coverage on shares of Caterpillar in a report on Wednesday. They issued a “buy” rating and a $380.00 price objective on the stock. The Goldman Sachs Group boosted their target price on Caterpillar from $357.00 to $408.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. raised their price target on Caterpillar from $385.00 to $435.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $329.63.

Insiders Place Their Bets

In other Caterpillar news, Director David Maclennan bought 500 shares of the stock in a transaction dated Friday, May 3rd. The shares were acquired at an average cost of $337.39 per share, for a total transaction of $168,695.00. Following the completion of the transaction, the director now owns 5,738 shares in the company, valued at approximately $1,935,943.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Caterpillar news, Director David Maclennan bought 500 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was acquired at an average price of $337.39 per share, for a total transaction of $168,695.00. Following the completion of the purchase, the director now owns 5,738 shares of the company’s stock, valued at $1,935,943.82. The acquisition 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 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 completion of the transaction, the insider now owns 20,023 shares in the company, valued at approximately $6,807,820. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

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.