Steigerwald Gordon & Koch Inc. Boosts Stock Position in Caterpillar Inc. (NYSE:CAT)

Steigerwald Gordon & Koch Inc. grew its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 5.8% during the 1st quarter, HoldingsChannel.com reports. The firm owned 3,604 shares of the industrial products company’s stock after buying an additional 197 shares during the period. Steigerwald Gordon & Koch Inc.’s holdings in Caterpillar were worth $1,189,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CAT. Flagship Wealth Advisors LLC acquired a new stake in shares of Caterpillar in the 4th quarter worth approximately $26,000. Halbert Hargrove Global Advisors LLC acquired a new stake in Caterpillar during the 4th quarter valued at $27,000. Cyrus J. Lawrence LLC acquired a new stake in Caterpillar during the 4th quarter valued at $27,000. Noble Wealth Management PBC purchased a new position in shares of Caterpillar during the 4th quarter worth $31,000. Finally, Investment Management Corp VA ADV purchased a new position in shares of Caterpillar during the 4th quarter worth $33,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Bank of America increased their target price on Caterpillar from $335.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, May 30th. Oppenheimer upgraded Caterpillar from a “market perform” rating to an “outperform” rating and set a $395.00 price target for the company in a report on Thursday, May 1st. Citigroup raised their target price on Caterpillar from $320.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, May 5th. Morgan Stanley upgraded Caterpillar from an “underweight” rating to an “equal weight” rating and lowered their target price for the company from $300.00 to $283.00 in a research note on Wednesday, April 16th. Finally, JPMorgan Chase & Co. decreased their price target on Caterpillar from $490.00 to $380.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $372.92.

Insider Buying and Selling

In related news, Director David Maclennan purchased 375 shares of the company’s stock in a transaction on Wednesday, May 7th. The shares were bought at an average price of $320.70 per share, with a total value of $120,262.50. Following the completion of the acquisition, the director now owns 6,653 shares of the company’s stock, valued at approximately $2,133,617.10. This represents a 5.97% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.33% of the stock is owned by corporate insiders.

Caterpillar Stock Performance

Shares of CAT stock opened at $349.64 on Thursday. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. The business has a 50 day moving average of $319.90 and a two-hundred day moving average of $350.35. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $418.50. The company has a market cap of $164.70 billion, a P/E ratio of 15.84, a PEG ratio of 1.87 and a beta of 1.35.

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

Caterpillar Announces Dividend

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

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.