BlueSky Wealth Advisors LLC Boosts Holdings in Caterpillar Inc. (NYSE:CAT)

BlueSky Wealth Advisors LLC boosted its position in shares of Caterpillar Inc. (NYSE:CATFree Report) by 3.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,506 shares of the industrial products company’s stock after acquiring an additional 91 shares during the period. Caterpillar accounts for 0.7% of BlueSky Wealth Advisors LLC’s holdings, making the stock its 19th biggest position. BlueSky Wealth Advisors LLC’s holdings in Caterpillar were worth $918,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CAT. Waterway Wealth Management LLC acquired a new position in Caterpillar during the 4th quarter valued at approximately $352,000. Farmers Trust Co. increased its stake in Caterpillar by 2.7% during the 4th quarter. Farmers Trust Co. now owns 4,490 shares of the industrial products company’s stock valued at $1,328,000 after purchasing an additional 120 shares in the last quarter. Firethorn Wealth Partners LLC increased its stake in Caterpillar by 19.4% during the 4th quarter. Firethorn Wealth Partners LLC now owns 1,825 shares of the industrial products company’s stock valued at $540,000 after purchasing an additional 296 shares in the last quarter. Axxcess Wealth Management LLC increased its stake in Caterpillar by 20.0% during the 4th quarter. Axxcess Wealth Management LLC now owns 21,343 shares of the industrial products company’s stock valued at $6,310,000 after purchasing an additional 3,558 shares in the last quarter. Finally, Rise Advisors LLC increased its stake in Caterpillar by 7.8% during the 4th quarter. Rise Advisors LLC now owns 1,074 shares of the industrial products company’s stock valued at $318,000 after purchasing an additional 78 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Buying and Selling

In related news, insider Lange Bob De sold 21,847 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $356.90, for a total transaction of $7,797,194.30. Following the completion of the sale, the insider now directly owns 71,115 shares in the company, valued at $25,380,943.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Caterpillar news, Director David Maclennan acquired 500 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was purchased at an average price of $337.39 per share, for a total transaction of $168,695.00. Following the completion of the acquisition, the director now owns 5,738 shares of the company’s stock, valued at approximately $1,935,943.82. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Lange Bob De sold 21,847 shares of Caterpillar stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $356.90, for a total transaction of $7,797,194.30. Following the completion of the transaction, the insider now owns 71,115 shares of the company’s stock, valued at approximately $25,380,943.50. The disclosure for this sale can be found here. 0.33% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Stifel Nicolaus lowered shares of Caterpillar from a “buy” rating to a “hold” rating and increased their price objective for the stock from $293.00 to $350.00 in a research note on Friday, April 26th. Truist Financial assumed coverage on shares of Caterpillar in a research note on Thursday, March 14th. They issued a “buy” rating and a $390.00 price objective on the stock. HSBC increased their price objective on shares of Caterpillar from $330.00 to $360.00 and gave the stock a “hold” rating in a research note on Tuesday, April 30th. TD Cowen increased their price target on shares of Caterpillar from $338.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Finally, The Goldman Sachs Group increased their price target on shares of Caterpillar from $357.00 to $408.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $327.13.

Check Out Our Latest Research Report on CAT

Caterpillar Price Performance

Shares of NYSE:CAT traded up $2.15 during midday trading on Monday, hitting $329.99. The company’s stock had a trading volume of 2,447,305 shares, compared to its average volume of 2,676,952. The business’s 50 day simple moving average is $342.63 and its 200 day simple moving average is $327.61. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.83 and a current ratio of 1.35. The company has a market cap of $161.38 billion, a P/E ratio of 14.90, a price-to-earnings-growth ratio of 1.69 and a beta of 1.14. Caterpillar Inc. has a 12-month low of $223.76 and a 12-month high of $382.01.

Caterpillar (NYSE:CATGet Free Report) last posted its quarterly earnings results on Thursday, April 25th. The industrial products company reported $5.60 earnings per share for the quarter, topping the consensus estimate of $5.12 by $0.48. The firm had revenue of $15.80 billion for the quarter, compared to the consensus estimate of $16.07 billion. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. On average, analysts forecast that Caterpillar Inc. will post 21.84 EPS for the current year.

Caterpillar announced that its board has approved a stock repurchase program on Wednesday, June 12th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to repurchase up to 12.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Caterpillar Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Monday, July 22nd will be given a dividend of $1.41 per share. This is a boost from Caterpillar’s previous quarterly dividend of $1.30. This represents a $5.64 annualized dividend and a yield of 1.71%. The ex-dividend date is Monday, July 22nd. Caterpillar’s dividend payout ratio (DPR) is presently 23.48%.

Caterpillar Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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