Oak Hill Wealth Advisors LLC Increases Stock Position in Caterpillar Inc. (NYSE:CAT)

Oak Hill Wealth Advisors LLC boosted its stake in Caterpillar Inc. (NYSE:CAT) by 2.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,969 shares of the industrial products company’s stock after purchasing an additional 50 shares during the quarter. Oak Hill Wealth Advisors LLC’s holdings in Caterpillar were worth $649,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Caterpillar by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 46,809,540 shares of the industrial products company’s stock worth $16,980,629,000 after purchasing an additional 284,366 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Caterpillar by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 10,449,770 shares of the industrial products company’s stock valued at $3,790,841,000 after acquiring an additional 236,315 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Caterpillar by 1.4% in the 4th quarter. Fisher Asset Management LLC now owns 9,081,775 shares of the industrial products company’s stock valued at $3,294,505,000 after acquiring an additional 129,143 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Caterpillar by 11.8% in the 4th quarter. Northern Trust Corp now owns 6,847,330 shares of the industrial products company’s stock valued at $2,483,937,000 after acquiring an additional 724,477 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Caterpillar in the 4th quarter valued at about $2,184,364,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Performance

Shares of NYSE:CAT opened at $371.63 on Thursday. The firm has a market cap of $175.05 billion, a PE ratio of 18.11, a price-to-earnings-growth ratio of 2.48 and a beta of 1.37. The firm’s 50 day simple moving average is $338.55 and its 200-day simple moving average is $346.61. Caterpillar Inc. has a one year low of $267.30 and a one year high of $418.50. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.77 and a current ratio of 1.32.

Caterpillar (NYSE:CAT) last issued its 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). The company had revenue of $14.25 billion for the quarter, compared to analysts’ expectations of $14.64 billion. Caterpillar had a return on equity of 53.77% and a net margin of 15.71%. The business’s revenue was down 9.8% compared to the same quarter last year. During the same period last year, the business posted $5.60 earnings per share. As a group, equities analysts predict that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st will be given a dividend of $1.51 per share. The ex-dividend date of this dividend is Monday, July 21st. This is a positive change from Caterpillar’s previous quarterly dividend of $1.41. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.63%. Caterpillar’s dividend payout ratio (DPR) is 27.49%.

Insider Transactions at Caterpillar

In other Caterpillar news, Director David Maclennan acquired 375 shares of the company’s stock in a transaction dated Wednesday, May 7th. The shares were purchased 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 owns 6,653 shares in the company, valued at approximately $2,133,617.10. This trade represents a 5.97% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

CAT has been the subject of a number of analyst reports. Baird R W raised shares of Caterpillar from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 13th. JPMorgan Chase & Co. lowered their price target on shares of Caterpillar from $490.00 to $380.00 and set an “overweight” rating for the company in a report on Monday, April 14th. DA Davidson increased their price target on shares of Caterpillar from $325.00 to $331.00 and gave the company a “neutral” rating in a report on Monday, May 5th. Evercore ISI lowered their price target on shares of Caterpillar from $375.00 to $373.00 and set an “in-line” rating for the company in a report on Monday, May 19th. Finally, Citigroup increased their price objective on shares of Caterpillar from $370.00 to $420.00 and gave the stock a “buy” rating in a research report on Tuesday. Six research 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 company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $380.83.

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.