Wolff Wiese Magana LLC Has $77,000 Position in Caterpillar Inc. (NYSE:CAT)

Wolff Wiese Magana LLC boosted its position in shares of Caterpillar Inc. (NYSE:CAT) by 22.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 234 shares of the industrial products company’s stock after purchasing an additional 43 shares during the quarter. Wolff Wiese Magana LLC’s holdings in Caterpillar were worth $77,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CAT. Pacific Point Advisors LLC acquired a new position in Caterpillar during the fourth quarter valued at approximately $579,000. Brighton Jones LLC grew its holdings in Caterpillar by 51.5% during the fourth quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company’s stock valued at $2,688,000 after purchasing an additional 2,519 shares during the period. Union Bancaire Privee UBP SA acquired a new position in shares of Caterpillar in the fourth quarter valued at approximately $7,396,000. Transcend Capital Advisors LLC boosted its holdings in shares of Caterpillar by 7.7% in the fourth quarter. Transcend Capital Advisors LLC now owns 3,627 shares of the industrial products company’s stock valued at $1,316,000 after buying an additional 258 shares during the period. Finally, Dahring Cusmano LLC acquired a new position in shares of Caterpillar in the fourth quarter valued at approximately $266,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

CAT has been the subject of several research analyst reports. Morgan Stanley upgraded shares of Caterpillar from an “underweight” rating to an “equal weight” rating and reduced their price target for the company from $300.00 to $283.00 in a report on Wednesday, April 16th. Wall Street Zen cut shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Truist Financial reiterated a “buy” rating and issued a $396.00 price target (up previously from $389.00) on shares of Caterpillar in a report on Thursday, May 1st. UBS Group upgraded shares of Caterpillar from a “sell” rating to a “neutral” rating and upped their price target for the company from $272.00 to $357.00 in a report on Friday, May 16th. Finally, DA Davidson boosted their price objective on shares of Caterpillar from $325.00 to $331.00 and gave the stock a “neutral” rating in a research report on Monday, May 5th. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $375.17.

Insiders Place Their Bets

In other news, Director David Maclennan purchased 375 shares of the company’s stock in a transaction on Wednesday, May 7th. The shares were purchased at an average cost of $320.70 per share, with a total value of $120,262.50. Following the completion of the transaction, the director now owns 6,653 shares of the company’s stock, valued at $2,133,617.10. The trade was a 5.97% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.33% of the company’s stock.

Caterpillar Stock Performance

NYSE CAT opened at $360.23 on Friday. The company has a current ratio of 1.32, a quick ratio of 0.77 and a debt-to-equity ratio of 1.43. The firm’s fifty day moving average price is $333.96 and its two-hundred day moving average price is $346.78. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $418.50. The firm has a market capitalization of $169.68 billion, a P/E ratio of 17.56, a price-to-earnings-growth ratio of 2.40 and a beta of 1.37.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $14.64 billion. During the same period last year, the company posted $5.60 earnings per share. The business’s revenue was down 9.8% compared to the same quarter last year. As a group, research analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Increases Dividend

The company also recently declared 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 1.68%. The ex-dividend date of this dividend is Monday, July 21st. Caterpillar’s dividend payout ratio is 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.