Brogan Financial Inc. Has $447,000 Position in Caterpillar Inc. (NYSE:CAT)

Brogan Financial Inc. raised its stake in shares of Caterpillar Inc. (NYSE:CAT) by 18.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,357 shares of the industrial products company’s stock after buying an additional 216 shares during the quarter. Brogan Financial Inc.’s holdings in Caterpillar were worth $447,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Cyrus J. Lawrence LLC bought a new position in shares of Caterpillar during the 4th quarter valued at about $27,000. Investment Management Corp VA ADV bought a new stake in Caterpillar in the 4th quarter valued at approximately $33,000. Curat Global LLC bought a new stake in Caterpillar in the 1st quarter valued at approximately $33,000. Redmont Wealth Advisors LLC bought a new stake in Caterpillar in the 1st quarter valued at approximately $33,000. Finally, Quarry LP bought a new stake in Caterpillar in the 4th quarter valued at approximately $35,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Melius raised Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price target on the stock in a research report on Wednesday, July 9th. Evercore ISI lowered their price target on Caterpillar from $375.00 to $373.00 and set an “in-line” rating on the stock in a research report on Monday, May 19th. Bank of America boosted their price target on Caterpillar from $335.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, May 30th. Sanford C. Bernstein reissued a “market perform” rating on shares of Caterpillar in a report on Monday. Finally, JPMorgan Chase & Co. boosted their target price on Caterpillar from $395.00 to $475.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Caterpillar presently has an average rating of “Moderate Buy” and an average price target of $412.33.

Insider Buying and Selling

In other Caterpillar news, Director David Maclennan purchased 375 shares of the company’s stock in a transaction that occurred on Wednesday, May 7th. The shares were acquired at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the completion of the acquisition, the director owned 6,653 shares of the company’s stock, valued at $2,133,617.10. The trade was a 5.97% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.33% of the company’s stock.

Caterpillar Trading Down 1.0%

Shares of CAT stock opened at $413.88 on Friday. The stock has a market cap of $194.95 billion, a price-to-earnings ratio of 20.17, a PEG ratio of 2.77 and a beta of 1.38. The stock has a 50-day moving average of $369.61 and a 200-day moving average of $349.78. The company has a current ratio of 1.32, a quick ratio of 0.77 and a debt-to-equity ratio of 1.43. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $419.90.

Caterpillar (NYSE:CAT) last released its earnings results on Wednesday, April 30th. The industrial products company reported $4.25 EPS for the quarter, missing the consensus estimate of $4.35 by ($0.10). Caterpillar had a return on equity of 53.77% and a net margin of 15.71%. The business had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.64 billion. During the same period in the prior year, the business earned $5.60 EPS. The company’s revenue for the quarter was down 9.8% on a year-over-year basis. On average, equities research analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st will be paid a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date is Monday, July 21st. This is a boost from Caterpillar’s previous quarterly dividend of $1.41. Caterpillar’s dividend payout ratio (DPR) 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.