Kiley Juergens Wealth Management LLC Lowers Holdings in Caterpillar Inc. (NYSE:CAT)

Kiley Juergens Wealth Management LLC trimmed its holdings in Caterpillar Inc. (NYSE:CAT) by 0.5% during the 1st quarter, Holdings Channel.com reports. The firm owned 18,326 shares of the industrial products company’s stock after selling 84 shares during the period. Caterpillar accounts for 1.6% of Kiley Juergens Wealth Management LLC’s holdings, making the stock its 14th biggest holding. Kiley Juergens Wealth Management LLC’s holdings in Caterpillar were worth $6,044,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Proficio Capital Partners LLC increased its stake in shares of Caterpillar by 38.3% in the 4th quarter. Proficio Capital Partners LLC now owns 2,218 shares of the industrial products company’s stock valued at $805,000 after purchasing an additional 614 shares in the last quarter. Victrix Investment Advisors acquired a new position in shares of Caterpillar during the 4th quarter worth about $2,090,000. Braun Stacey Associates Inc. raised its position in shares of 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 purchasing an additional 963 shares during the last quarter. Pacific Point Advisors LLC acquired a new position in shares of Caterpillar during the 4th quarter worth about $579,000. Finally, Brighton Jones LLC raised its position in shares of Caterpillar by 51.5% during the 4th quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company’s stock worth $2,688,000 after purchasing an additional 2,519 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Stock Performance

Caterpillar stock opened at $357.85 on Wednesday. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.32 and a quick ratio of 0.77. The stock has a market cap of $168.56 billion, a price-to-earnings ratio of 17.44, a price-to-earnings-growth ratio of 2.41 and a beta of 1.37. The firm has a 50 day simple moving average of $330.03 and a 200-day simple moving average of $347.62. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $418.50.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share 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 for the quarter was down 9.8% on a year-over-year basis. During the same period in the previous year, the business posted $5.60 EPS. On average, analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, July 21st will be given a dividend of $1.51 per share. The ex-dividend date is Monday, July 21st. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.69%. This is a boost from Caterpillar’s previous quarterly dividend of $1.41. Caterpillar’s dividend payout ratio (DPR) is presently 27.49%.

Insider Buying and Selling

In other Caterpillar news, Director David Maclennan purchased 375 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 6,653 shares of the company’s stock, valued at approximately $2,133,617.10. This represents a 5.97% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CAT shares. Oppenheimer upgraded shares of Caterpillar from a “market perform” rating to an “outperform” rating and set a $395.00 price target for the company in a research report on Thursday, May 1st. Truist Financial restated a “buy” rating and set a $396.00 price target (up previously from $389.00) on shares of Caterpillar in a research report on Thursday, May 1st. Bank of America increased their price objective on shares of Caterpillar from $335.00 to $385.00 and gave the company a “buy” rating in a report on Friday, May 30th. Wall Street Zen downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Finally, UBS Group upgraded shares of Caterpillar from a “sell” rating to a “neutral” rating and increased their price objective for the company from $272.00 to $357.00 in a report on Friday, May 16th. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $372.92.

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.