Florida Financial Advisors LLC Purchases 5,093 Shares of Caterpillar Inc. $CAT

Florida Financial Advisors LLC raised its position in Caterpillar Inc. (NYSE:CAT) by 626.4% during the first quarter, Holdings Channel.com reports. The institutional investor owned 5,906 shares of the industrial products company’s stock after purchasing an additional 5,093 shares during the quarter. Caterpillar accounts for 1.0% of Florida Financial Advisors LLC’s investment portfolio, making the stock its 17th largest holding. Florida Financial Advisors LLC’s holdings in Caterpillar were worth $4,185,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Lam Group Inc. acquired a new position in shares of Caterpillar in the 1st quarter worth approximately $26,000. Torren Management LLC acquired a new stake in Caterpillar during the 4th quarter valued at $27,000. Frazier Financial Advisors LLC raised its position in Caterpillar by 220.0% in the 4th quarter. Frazier Financial Advisors LLC now owns 48 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 33 shares during the last quarter. Cedar Mountain Advisors LLC boosted its stake in Caterpillar by 82.1% in the first quarter. Cedar Mountain Advisors LLC now owns 51 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 23 shares in the last quarter. Finally, IFS Advisors LLC bought a new stake in shares of Caterpillar during the fourth quarter worth $31,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Stock Performance

CAT stock opened at $864.72 on Tuesday. The business’s fifty day moving average is $930.07 and its 200-day moving average is $796.99. The company has a quick ratio of 0.81, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. The company has a market cap of $398.28 billion, a P/E ratio of 43.04, a price-to-earnings-growth ratio of 1.72 and a beta of 1.57. Caterpillar Inc. has a twelve month low of $405.46 and a twelve month high of $1,073.46.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Thursday, April 30th. The industrial products company reported $5.54 EPS for the quarter, topping analysts’ consensus estimates of $4.65 by $0.89. The business had revenue of $17.41 billion during the quarter, compared to analysts’ expectations of $16.53 billion. Caterpillar had a return on equity of 48.21% and a net margin of 13.33%.The firm’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.25 earnings per share. Equities research analysts forecast that Caterpillar Inc. will post 24.87 EPS for the current year.

Caterpillar Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Monday, July 20th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Monday, July 20th. This is an increase from Caterpillar’s previous quarterly dividend of $1.51. Caterpillar’s dividend payout ratio is presently 30.06%.

Insider Activity at Caterpillar

In related news, insider Jason Kaiser sold 5,642 shares of Caterpillar stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $883.03, for a total transaction of $4,982,055.26. Following the transaction, the insider owned 9,594 shares of the company’s stock, valued at $8,471,789.82. This trade represents a 37.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Denise C. Johnson sold 12,605 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $907.91, for a total transaction of $11,444,205.55. Following the transaction, the insider owned 49,825 shares of the company’s stock, valued at approximately $45,236,615.75. This represents a 20.19% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 95,773 shares of company stock worth $87,642,635. 0.33% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CAT has been the subject of a number of research reports. Weiss Ratings restated a “buy (b-)” rating on shares of Caterpillar in a research note on Friday, May 8th. Wells Fargo & Company increased their price objective on shares of Caterpillar from $1,050.00 to $1,155.00 and gave the stock an “overweight” rating in a report on Tuesday, June 23rd. Truist Financial boosted their target price on shares of Caterpillar from $1,043.00 to $1,218.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Wall Street Zen upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, Daiwa Securities Group increased their price target on shares of Caterpillar from $790.00 to $900.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Fifteen equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $980.57.

Caterpillar Company Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.