HWG Holdings LP Takes Position in Caterpillar Inc. (NYSE:CAT)

HWG Holdings LP purchased a new stake in Caterpillar Inc. (NYSE:CAT) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 150 shares of the industrial products company’s stock, valued at approximately $49,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Proficio Capital Partners LLC grew its position in Caterpillar by 38.3% in the fourth quarter. Proficio Capital Partners LLC now owns 2,218 shares of the industrial products company’s stock valued at $805,000 after acquiring an additional 614 shares during the last quarter. Victrix Investment Advisors bought a new position in Caterpillar in the fourth quarter valued at about $2,090,000. Pacific Point Advisors LLC acquired a new position in shares of Caterpillar during the fourth quarter worth $579,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Caterpillar by 18.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 191,640 shares of the industrial products company’s stock worth $63,202,000 after buying an additional 30,070 shares in the last quarter. Finally, Brighton Jones LLC increased its holdings in shares of Caterpillar by 51.5% during the fourth quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company’s stock worth $2,688,000 after buying an additional 2,519 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Stock Performance

Shares of CAT opened at $360.23 on Monday. The company has a current ratio of 1.32, a quick ratio of 0.77 and a debt-to-equity ratio of 1.43. The stock has a market capitalization of $169.68 billion, a P/E ratio of 17.56, a price-to-earnings-growth ratio of 2.40 and a beta of 1.37. The firm’s fifty day simple moving average is $333.96 and its two-hundred day simple moving average is $346.44. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month 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). Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. The company had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.64 billion. During the same quarter in the prior year, the company posted $5.60 EPS. Caterpillar’s revenue for the quarter was down 9.8% on a year-over-year basis. As a group, analysts predict that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st will be issued a dividend of $1.51 per share. The ex-dividend date is Monday, July 21st. This represents a $6.04 annualized dividend and a dividend yield of 1.68%. This is a positive change from Caterpillar’s previous quarterly dividend of $1.41. Caterpillar’s dividend payout ratio is currently 27.49%.

Insider Activity

In other Caterpillar news, Director David Maclennan bought 375 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were bought at an average price of $320.70 per share, for a total transaction of $120,262.50. Following the acquisition, the director now directly owns 6,653 shares of the company’s stock, valued at approximately $2,133,617.10. The trade was a 5.97% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CAT. JPMorgan Chase & Co. lowered their price target on shares of Caterpillar from $490.00 to $380.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Oppenheimer raised shares of Caterpillar from a “market perform” rating to an “outperform” rating and set a $395.00 price objective on the stock in a research note on Thursday, May 1st. Baird R W raised shares of Caterpillar from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 13th. Bank of America boosted their price objective on shares of Caterpillar from $335.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, May 30th. Finally, Morgan Stanley raised shares of Caterpillar from an “underweight” rating to an “equal weight” rating and reduced their price objective for the stock from $300.00 to $283.00 in a research note on Wednesday, April 16th. 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $375.17.

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.