Lake Street Private Wealth LLC Buys 532 Shares of Caterpillar Inc. (NYSE:CAT)

Lake Street Private Wealth LLC raised its holdings in Caterpillar Inc. (NYSE:CAT) by 7.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,711 shares of the industrial products company’s stock after acquiring an additional 532 shares during the period. Lake Street Private Wealth LLC’s holdings in Caterpillar were worth $2,543,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Flagship Wealth Advisors LLC acquired a new position in shares of Caterpillar during the fourth quarter worth about $26,000. Halbert Hargrove Global Advisors LLC bought a new position in shares of Caterpillar during the fourth quarter worth approximately $27,000. Cyrus J. Lawrence LLC bought a new position in shares of Caterpillar during the fourth quarter worth approximately $27,000. Noble Wealth Management PBC bought a new position in shares of Caterpillar during the fourth quarter worth approximately $31,000. Finally, Investment Management Corp VA ADV bought a new position in shares of Caterpillar during the fourth quarter worth approximately $33,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Caterpillar

In other news, Director David Maclennan acquired 375 shares of the company’s stock in a transaction that occurred on Wednesday, May 7th. The shares were acquired at an average price of $320.70 per share, for a total transaction of $120,262.50. Following the completion of the purchase, the director now owns 6,653 shares in the company, valued at approximately $2,133,617.10. This trade represents a 5.97% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.33% of the company’s stock.

Caterpillar Stock Performance

Shares of Caterpillar stock opened at $349.64 on Thursday. Caterpillar Inc. has a one year low of $267.30 and a one year high of $418.50. The firm has a market capitalization of $164.70 billion, a price-to-earnings ratio of 15.84, a PEG ratio of 1.87 and a beta of 1.35. The business has a 50-day simple moving average of $319.90 and a 200 day simple moving average of $350.35. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.35 by ($0.10). The company had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.64 billion. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. Caterpillar’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same quarter last year, the firm posted $5.60 EPS. On average, research analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Monday, April 21st were paid a $1.41 dividend. The ex-dividend date was Monday, April 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.61%. Caterpillar’s payout ratio is presently 27.49%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CAT shares. Baird R W upgraded Caterpillar from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 13th. JPMorgan Chase & Co. cut their price objective on Caterpillar from $490.00 to $380.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. UBS Group raised Caterpillar from a “sell” rating to a “neutral” rating and raised their price objective for the company from $272.00 to $357.00 in a report on Friday, May 16th. Citigroup lifted their target price on Caterpillar from $320.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, May 5th. Finally, DA Davidson lifted their target price on Caterpillar from $325.00 to $331.00 and gave the stock a “neutral” rating in a report on Monday, May 5th. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $372.92.

Caterpillar Company 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.