Pure Portfolios Holdings LLC Boosts Stake in Caterpillar Inc. (NYSE:CAT)

Pure Portfolios Holdings LLC grew its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 15.9% in the 1st quarter, HoldingsChannel.com reports. The firm owned 691 shares of the industrial products company’s stock after purchasing an additional 95 shares during the quarter. Pure Portfolios Holdings LLC’s holdings in Caterpillar were worth $228,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Flagship Wealth Advisors LLC purchased a new position in Caterpillar in the 4th quarter worth $26,000. Cyrus J. Lawrence LLC acquired a new stake in Caterpillar during the 4th quarter worth about $27,000. Investment Management Corp VA ADV acquired a new stake in shares of Caterpillar during the 4th quarter valued at about $33,000. Curat Global LLC acquired a new stake in shares of Caterpillar during the 1st quarter valued at about $33,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in shares of Caterpillar during the 1st quarter valued at about $33,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insiders Place Their Bets

In other Caterpillar news, Director David Maclennan purchased 375 shares of the stock in a transaction dated Wednesday, May 7th. The shares were acquired at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the completion of the transaction, the director directly owned 6,653 shares of the company’s stock, 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 filing with the SEC, which is available through this hyperlink. Insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

CAT has been the topic of a number of research reports. 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 research note on Friday, May 30th. Truist Financial lifted their price target on shares of Caterpillar from $396.00 to $414.00 and gave the company a “buy” rating in a research report on Monday, June 23rd. Oppenheimer raised shares of Caterpillar from a “market perform” rating to an “outperform” rating and set a $395.00 price target on the stock in a research report on Thursday, May 1st. DA Davidson lifted their target price on shares of Caterpillar from $325.00 to $331.00 and gave the company a “neutral” rating in a report on Monday, May 5th. Finally, Evercore ISI dropped their price target 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 equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $380.83.

Caterpillar Trading Up 0.2%

Shares of Caterpillar stock opened at $399.33 on Friday. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $418.50. The company has a quick ratio of 0.77, a current ratio of 1.32 and a debt-to-equity ratio of 1.43. The company’s 50-day simple moving average is $351.96 and its 200-day simple moving average is $346.84. The firm has a market cap of $188.10 billion, a price-to-earnings ratio of 19.46, a price-to-earnings-growth ratio of 2.64 and a beta of 1.38.

Caterpillar (NYSE:CAT) last issued its quarterly 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 53.77% and a net margin of 15.71%. The firm had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.64 billion. During the same quarter last year, the firm earned $5.60 earnings per share. The company’s revenue was down 9.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Increases Dividend

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

About Caterpillar

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.