Keebeck Wealth Management Has $1.56 Million Position in Caterpillar Inc. $CAT

Keebeck Wealth Management raised its stake in shares of Caterpillar Inc. (NYSE:CAT) by 90.3% in the first quarter, Holdings Channel reports. The fund owned 2,205 shares of the industrial products company’s stock after acquiring an additional 1,046 shares during the period. Keebeck Wealth Management’s holdings in Caterpillar were worth $1,562,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Inceptionr LLC increased its position in shares of Caterpillar by 398.5% during the 1st quarter. Inceptionr LLC now owns 2,672 shares of the industrial products company’s stock worth $1,893,000 after purchasing an additional 2,136 shares in the last quarter. Greenline Wealth Management LLC boosted its position in Caterpillar by 1,053.7% in the first quarter. Greenline Wealth Management LLC now owns 473 shares of the industrial products company’s stock valued at $335,000 after buying an additional 432 shares in the last quarter. Liberty One Investment Management LLC grew its stake in Caterpillar by 19.6% during the first quarter. Liberty One Investment Management LLC now owns 11,356 shares of the industrial products company’s stock worth $8,045,000 after buying an additional 1,859 shares during the last quarter. Dickmeyer Boyce Financial Management Inc. bought a new stake in Caterpillar during the first quarter worth about $848,000. Finally, Gibbs Wealth Management increased its holdings in shares of Caterpillar by 131.7% during the first quarter. Gibbs Wealth Management now owns 2,827 shares of the industrial products company’s stock worth $2,003,000 after buying an additional 1,607 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Insider Activity at Caterpillar

In related news, insider Lange Bob De sold 24,222 shares of the stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $922.92, for a total value of $22,354,968.24. Following the transaction, the insider directly owned 86,029 shares in the company, valued at $79,397,884.68. This represents a 21.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Anthony D. Fassino sold 16,283 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $916.80, for a total transaction of $14,928,254.40. Following the completion of the transaction, the insider directly owned 46,041 shares in the company, valued at approximately $42,210,388.80. The trade was a 26.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 95,773 shares of company stock worth $87,642,635. Insiders own 0.33% of the company’s stock.

Caterpillar Stock Up 0.4%

Shares of CAT opened at $893.02 on Friday. The business’s fifty day moving average price is $928.87 and its two-hundred day moving average price is $803.52. The firm has a market capitalization of $411.32 billion, a price-to-earnings ratio of 44.45, a PEG ratio of 1.74 and a beta of 1.57. Caterpillar Inc. has a 52 week low of $405.46 and a 52 week high of $1,073.46. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.81 and a current ratio of 1.35.

Caterpillar (NYSE:CAT) last released its earnings results on Thursday, April 30th. The industrial products company reported $5.54 earnings per share for the quarter, topping analysts’ consensus estimates of $4.65 by $0.89. Caterpillar had a return on equity of 48.21% and a net margin of 13.33%.The company had revenue of $17.41 billion during the quarter, compared to the consensus estimate of $16.53 billion. During the same quarter in the previous year, the company posted $4.25 earnings per share. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. On average, analysts predict that Caterpillar Inc. will post 24.87 earnings per share for the current year.

Caterpillar Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Monday, July 20th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Monday, July 20th. This is a boost from Caterpillar’s previous quarterly dividend of $1.51. Caterpillar’s dividend payout ratio is currently 32.45%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on CAT shares. JPMorgan Chase & Co. boosted their target price on Caterpillar from $1,125.00 to $1,165.00 and gave the stock an “overweight” rating in a report on Wednesday, June 17th. Robert W. Baird raised their price target on Caterpillar from $1,165.00 to $1,200.00 and gave the company an “outperform” rating in a report on Friday, June 26th. Bank of America boosted their price objective on Caterpillar from $930.00 to $989.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. HSBC increased their target price on Caterpillar from $850.00 to $1,100.00 in a report on Tuesday, May 5th. Finally, Wells Fargo & Company lifted their price target on Caterpillar from $1,050.00 to $1,155.00 and gave the company an “overweight” rating in a report on Tuesday, June 23rd. Fifteen research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $980.57.

Caterpillar Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.