Caterpillar Inc. (NYSE:CAT) Shares Acquired by West Oak Capital LLC

West Oak Capital LLC lifted its position in shares of Caterpillar Inc. (NYSE:CAT) by 16.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,287 shares of the industrial products company’s stock after purchasing an additional 765 shares during the period. West Oak Capital LLC’s holdings in Caterpillar were worth $1,937,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CAT. AQR Capital Management LLC lifted its position in shares of Caterpillar by 19.4% during the third quarter. AQR Capital Management LLC now owns 382,329 shares of the industrial products company’s stock worth $104,376,000 after purchasing an additional 62,020 shares in the last quarter. Truist Financial Corp raised its holdings in Caterpillar by 13.3% in the third quarter. Truist Financial Corp now owns 288,579 shares of the industrial products company’s stock valued at $78,782,000 after acquiring an additional 33,907 shares in the last quarter. Glenmede Trust Co. NA raised its holdings 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 valued at $27,091,000 after acquiring an additional 2,688 shares in the last quarter. Shelton Capital Management raised its holdings in Caterpillar by 78.2% in the third quarter. Shelton Capital Management now owns 26,584 shares of the industrial products company’s stock valued at $7,257,000 after acquiring an additional 11,668 shares in the last quarter. Finally, Axxcess Wealth Management LLC raised its holdings in Caterpillar by 127.7% in the third quarter. Axxcess Wealth Management LLC now owns 17,785 shares of the industrial products company’s stock valued at $4,856,000 after acquiring an additional 9,974 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Stock Performance

Shares of Caterpillar stock traded down $1.34 during trading on Tuesday, hitting $327.74. 2,119,834 shares of the stock were exchanged, compared to its average volume of 2,717,345. The stock’s fifty day moving average is $339.03 and its 200 day moving average is $330.08. The stock has a market cap of $160.28 billion, a PE ratio of 14.80, a P/E/G ratio of 1.71 and a beta of 1.12. 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 12 month low of $223.76 and a 12 month high of $382.01.

Caterpillar (NYSE:CAT) last announced its earnings results on Thursday, April 25th. The industrial products company reported $5.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.12 by $0.48. The firm had revenue of $15.80 billion during the quarter, compared to analyst estimates of $16.07 billion. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. As a group, sell-side analysts anticipate that Caterpillar Inc. will post 21.84 EPS for the current year.

Caterpillar Increases Dividend

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

Caterpillar announced that its board has approved a share repurchase plan 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 plans are typically a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CAT. TD Cowen upped their price target on shares of Caterpillar from $338.00 to $340.00 and gave the company a “buy” rating in a report on Friday, April 26th. The Goldman Sachs Group boosted their target price on shares of Caterpillar from $357.00 to $408.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Raymond James assumed coverage on shares of Caterpillar in a research note on Friday. They set a “market perform” rating for the company. Citigroup assumed coverage on shares of Caterpillar in a research note on Wednesday, June 26th. They set a “buy” rating and a $380.00 target price for the company. Finally, Truist Financial assumed coverage on shares of Caterpillar in a research note on Thursday, March 14th. They set a “buy” rating and a $390.00 target price for the company. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $329.63.

Insider Activity at Caterpillar

In other Caterpillar news, Director David Maclennan purchased 500 shares of the business’s stock in a transaction on 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 acquisition, the director now owns 5,738 shares of the company’s stock, valued at $1,935,943.82. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Caterpillar news, Director David Maclennan purchased 500 shares of the business’s stock in a transaction on 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 acquisition, the director now owns 5,738 shares of the company’s stock, valued at $1,935,943.82. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 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 currently owned by insiders.

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.