Berry Wealth Group LP Makes New $269,000 Investment in Caterpillar Inc. (NYSE:CAT)

Berry Wealth Group LP bought a new position in Caterpillar Inc. (NYSE:CAT) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 816 shares of the industrial products company’s stock, valued at approximately $269,000.

Several other hedge funds have also recently modified their holdings of CAT. Norges Bank purchased a new stake in Caterpillar in the fourth quarter valued at approximately $2,184,364,000. GAMMA Investing LLC boosted its position in Caterpillar by 43,447.3% in the first quarter. GAMMA Investing LLC now owns 3,730,259 shares of the industrial products company’s stock valued at $1,230,239,000 after buying an additional 3,721,693 shares during the last quarter. Capital Research Global Investors boosted its position in Caterpillar by 69.3% in the fourth quarter. Capital Research Global Investors now owns 2,924,054 shares of the industrial products company’s stock valued at $1,060,730,000 after buying an additional 1,196,861 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Caterpillar in the fourth quarter valued at approximately $353,231,000. Finally, Proficio Capital Partners LLC boosted its position in Caterpillar by 50,072.7% in the fourth quarter. Proficio Capital Partners LLC now owns 804,770 shares of the industrial products company’s stock valued at $291,938,000 after buying an additional 803,166 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on CAT shares. Bank of America upped their target price on Caterpillar from $335.00 to $385.00 and gave the company a “buy” rating in a research report on Friday, May 30th. Wall Street Zen lowered Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Evercore ISI lowered their price objective 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. Baird R W upgraded Caterpillar from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 13th. Finally, Morgan Stanley raised Caterpillar from an “underweight” rating to an “equal weight” rating and reduced their target price for the stock from $300.00 to $283.00 in a research note on Wednesday, April 16th. Six equities research 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 company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $376.67.

Insider Activity

In other Caterpillar news, Director David Maclennan purchased 375 shares of the business’s stock in a transaction on Wednesday, May 7th. The shares were bought 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 in the company, valued at approximately $2,133,617.10. This represents a 5.97% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.33% of the company’s stock.

Caterpillar Stock Up 1.7%

NYSE:CAT opened at $366.65 on Tuesday. The company has a quick ratio of 0.77, a current ratio of 1.32 and a debt-to-equity ratio of 1.43. The stock’s fifty day moving average is $335.33 and its two-hundred day moving average is $346.24. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $418.50. The stock has a market capitalization of $172.71 billion, a price-to-earnings ratio of 17.87, a price-to-earnings-growth ratio of 2.40 and a beta of 1.37.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 EPS for the quarter, missing analysts’ consensus estimates of $4.35 by ($0.10). Caterpillar had a return on equity of 53.77% and a net margin of 15.71%. The firm had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.64 billion. During the same quarter last year, the company earned $5.60 earnings per share. The firm’s revenue for the quarter was down 9.8% on a year-over-year basis. Research analysts anticipate 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 paid a $1.51 dividend. This is a boost from Caterpillar’s previous quarterly dividend of $1.41. This represents a $6.04 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Monday, July 21st. Caterpillar’s dividend payout ratio (DPR) is presently 27.49%.

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.