Stokes Capital Advisors LLC Acquires Shares of 10,933 Caterpillar Inc. (NYSE:CAT)

Stokes Capital Advisors LLC acquired a new stake in shares of Caterpillar Inc. (NYSE:CAT) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 10,933 shares of the industrial products company’s stock, valued at approximately $3,606,000.

A number of other hedge funds have also bought and sold shares of CAT. Proficio Capital Partners LLC grew its holdings in shares of Caterpillar by 38.3% in the fourth quarter. Proficio Capital Partners LLC now owns 2,218 shares of the industrial products company’s stock worth $805,000 after purchasing an additional 614 shares during the last quarter. Victrix Investment Advisors bought a new position in Caterpillar during the 4th quarter worth about $2,090,000. Braun Stacey Associates Inc. grew its holdings in Caterpillar by 2.8% during the 4th quarter. Braun Stacey Associates Inc. now owns 34,837 shares of the industrial products company’s stock worth $12,637,000 after acquiring an additional 963 shares in the last quarter. Strategic Advisors LLC grew its holdings in Caterpillar by 14.6% during the 4th quarter. Strategic Advisors LLC now owns 5,724 shares of the industrial products company’s stock worth $2,076,000 after acquiring an additional 730 shares in the last quarter. Finally, MFG Wealth Management Inc. bought a new position in Caterpillar during the 4th quarter worth about $2,308,000. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Up 1.3%

CAT opened at $353.49 on Friday. The company has a fifty day moving average of $320.74 and a two-hundred day moving average of $349.91. The stock has a market capitalization of $166.51 billion, a price-to-earnings ratio of 16.02, a PEG ratio of 1.87 and a beta of 1.37. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $418.50. 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 quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share for the quarter, missing the consensus estimate of $4.35 by ($0.10). The business had revenue of $14.25 billion during the quarter, compared to analysts’ expectations of $14.64 billion. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. Caterpillar’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.60 EPS. On average, research analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CAT. UBS Group upgraded shares of Caterpillar from a “sell” rating to a “neutral” rating and increased their target price for the stock from $272.00 to $357.00 in a report on Friday, May 16th. Citigroup raised their price target on shares of Caterpillar from $320.00 to $370.00 and gave the company a “buy” rating in a report on Monday, May 5th. Baird R W upgraded shares of Caterpillar from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 13th. Bank of America raised their price target on shares of Caterpillar from $335.00 to $385.00 and gave the company a “buy” rating in a report on Friday, May 30th. Finally, Evercore ISI lowered their target price on shares of Caterpillar from $375.00 to $373.00 and set an “in-line” rating for the company in a research note on Monday, May 19th. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $372.92.

Insider Activity at Caterpillar

In other Caterpillar news, Director David Maclennan acquired 375 shares of the company’s stock in a transaction that occurred on Wednesday, May 7th. The stock was bought at an average price of $320.70 per share, with a total value of $120,262.50. Following the purchase, the director now owns 6,653 shares in the company, valued at approximately $2,133,617.10. The trade was a 5.97% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.33% of the stock is owned by corporate insiders.

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.