Accurate Wealth Management LLC Buys 733 Shares of Caterpillar Inc. (NYSE:CAT)

Accurate Wealth Management LLC lifted its position in Caterpillar Inc. (NYSE:CAT) by 13.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,211 shares of the industrial products company’s stock after buying an additional 733 shares during the quarter. Accurate Wealth Management LLC’s holdings in Caterpillar were worth $2,048,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Proficio Capital Partners LLC increased its stake in shares of Caterpillar by 38.3% during the 4th quarter. Proficio Capital Partners LLC now owns 2,218 shares of the industrial products company’s stock worth $805,000 after purchasing an additional 614 shares during the last quarter. Victrix Investment Advisors acquired a new position in Caterpillar during the fourth quarter worth approximately $2,090,000. Braun Stacey Associates Inc. raised its stake in Caterpillar by 2.8% in the fourth quarter. Braun Stacey Associates Inc. now owns 34,837 shares of the industrial products company’s stock valued at $12,637,000 after buying an additional 963 shares during the period. Strategic Advisors LLC lifted its position in shares of Caterpillar by 14.6% in the fourth quarter. Strategic Advisors LLC now owns 5,724 shares of the industrial products company’s stock valued at $2,076,000 after buying an additional 730 shares during the last quarter. Finally, MFG Wealth Management Inc. acquired a new position in shares of Caterpillar during the 4th quarter worth approximately $2,308,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Stock Up 1.3%

NYSE CAT opened at $358.12 on Tuesday. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40. The company has a market cap of $168.69 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 1.87 and a beta of 1.37. The company has a 50 day moving average of $321.20 and a 200-day moving average of $349.13. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $418.50.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share for the quarter, missing the consensus estimate of $4.35 by ($0.10). The company had revenue of $14.25 billion during 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 was down 9.8% on a year-over-year basis. During the same period in the prior year, the firm earned $5.60 earnings per share. On average, equities research analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Monday, April 21st were paid a dividend of $1.41 per share. The ex-dividend date of this dividend was Monday, April 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.57%. Caterpillar’s payout ratio is 27.49%.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Director David Maclennan bought 375 shares of the business’s stock in a transaction on Wednesday, May 7th. The stock was purchased at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the completion of the purchase, the director now directly owns 6,653 shares of the company’s stock, valued at approximately $2,133,617.10. This trade represents a 5.97% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Robert W. Baird raised Caterpillar from a “neutral” rating to an “outperform” rating and raised their price target for the company from $309.00 to $395.00 in a report on Tuesday, May 13th. Bank of America increased their price objective on shares of Caterpillar from $335.00 to $385.00 and gave the company a “buy” rating in a research report on Friday, May 30th. Truist Financial reaffirmed a “buy” rating and set a $396.00 target price (up previously from $389.00) on shares of Caterpillar in a report on Thursday, May 1st. Baird R W raised shares of Caterpillar from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. reduced their price objective on Caterpillar from $490.00 to $380.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $372.92.

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.