Rathbones Group PLC Boosts Stock Position in Caterpillar Inc. (NYSE:CAT)

Rathbones Group PLC boosted its holdings in Caterpillar Inc. (NYSE:CAT) by 7.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 222,471 shares of the industrial products company’s stock after buying an additional 15,288 shares during the quarter. Rathbones Group PLC’s holdings in Caterpillar were worth $73,371,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Investment Management Corp VA ADV purchased a new position in Caterpillar in the fourth quarter valued at $33,000. Quarry LP purchased a new position in shares of Caterpillar during the fourth quarter worth about $35,000. Mpwm Advisory Solutions LLC purchased a new position in shares of Caterpillar during the fourth quarter worth about $36,000. Mattson Financial Services LLC purchased a new position in shares of Caterpillar during the fourth quarter worth about $39,000. Finally, Curat Global LLC purchased a new position in shares of Caterpillar during the first quarter worth about $33,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $408.40 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. The company has a market cap of $191.32 billion, a P/E ratio of 20.77, a PEG ratio of 2.47 and a beta of 1.40. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $441.15. The company has a 50-day moving average price of $394.65 and a 200 day moving average price of $355.11.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing analysts’ consensus estimates of $4.88 by ($0.16). The firm had revenue of $16.57 billion during the quarter, compared to analyst estimates of $16.14 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. Caterpillar’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.99 EPS. Research analysts predict 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. Investors of record on Monday, July 21st will be given a $1.51 dividend. The ex-dividend date is Monday, July 21st. This is an increase from Caterpillar’s previous quarterly dividend of $1.41. This represents a $6.04 dividend on an annualized basis and a yield of 1.5%. Caterpillar’s payout ratio is 30.72%.

Analyst Ratings Changes

CAT has been the topic of several research reports. Bank of America raised their price objective on Caterpillar from $460.00 to $495.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Truist Financial raised their price objective on Caterpillar from $414.00 to $507.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Baird R W raised Caterpillar from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 13th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Caterpillar in a report on Monday, July 14th. Finally, Melius upgraded shares of Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 target price for the company in a research note on Wednesday, July 9th. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Caterpillar currently has a consensus rating of “Moderate Buy” and an average price target of $444.00.

About Caterpillar

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.