Midland Wealth Advisors LLC Has $1.38 Million Stake in Caterpillar Inc. (NYSE:CAT)

Midland Wealth Advisors LLC reduced its stake in shares of Caterpillar Inc. (NYSE:CAT) by 1.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,173 shares of the industrial products company’s stock after selling 67 shares during the period. Midland Wealth Advisors LLC’s holdings in Caterpillar were worth $1,376,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CAT. Wagner Wealth Management LLC increased its position in shares of Caterpillar by 4.0% in the fourth quarter. Wagner Wealth Management LLC now owns 668 shares of the industrial products company’s stock valued at $242,000 after acquiring an additional 26 shares during the last quarter. Adell Harriman & Carpenter Inc. grew its stake in Caterpillar by 1.2% in the fourth quarter. Adell Harriman & Carpenter Inc. now owns 2,256 shares of the industrial products company’s stock valued at $818,000 after purchasing an additional 27 shares in the last quarter. Abacus Planning Group Inc. increased its position in shares of Caterpillar by 1.0% during the 4th quarter. Abacus Planning Group Inc. now owns 2,897 shares of the industrial products company’s stock worth $1,051,000 after purchasing an additional 28 shares during the last quarter. Cape Investment Advisory Inc. raised its stake in shares of Caterpillar by 6.3% during the 4th quarter. Cape Investment Advisory Inc. now owns 471 shares of the industrial products company’s stock worth $171,000 after purchasing an additional 28 shares in the last quarter. Finally, Beacon Capital Management LLC boosted its holdings in shares of Caterpillar by 2.1% in the 4th quarter. Beacon Capital Management LLC now owns 1,432 shares of the industrial products company’s stock valued at $520,000 after buying an additional 29 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on CAT. JPMorgan Chase & Co. dropped their price target on shares of Caterpillar from $490.00 to $380.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Truist Financial reaffirmed a “buy” rating and issued a $396.00 target price (up from $389.00) on shares of Caterpillar in a report on Thursday, May 1st. UBS Group upgraded Caterpillar from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $272.00 to $357.00 in a report on Friday, May 16th. Wall Street Zen lowered Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, Citigroup raised their price objective on Caterpillar from $320.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, May 5th. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $372.92.

Caterpillar Trading Up 1.3%

CAT stock opened at $353.49 on Monday. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $418.50. The company has a market capitalization of $166.51 billion, a PE ratio of 16.02, a price-to-earnings-growth ratio of 1.87 and a beta of 1.37. The company’s 50-day simple moving average is $320.74 and its 200 day simple moving average is $349.40. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42.

Caterpillar (NYSE:CAT) last announced its earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.35 by ($0.10). Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. The business had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.64 billion. During the same quarter in the previous year, the company earned $5.60 EPS. The business’s revenue for the quarter was down 9.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Monday, April 21st were paid a dividend of $1.41 per share. The ex-dividend date of this dividend was Monday, April 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.60%. Caterpillar’s dividend payout ratio (DPR) is presently 27.49%.

Insider Buying and Selling at Caterpillar

In related news, Director David Maclennan purchased 375 shares of the company’s stock in a transaction that occurred on Wednesday, May 7th. The stock was acquired at an average price of $320.70 per share, with a total value of $120,262.50. Following the completion of the purchase, the director now directly owns 6,653 shares in the company, valued at $2,133,617.10. This trade represents a 5.97% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.33% of the company’s stock.

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.