Sloy Dahl & Holst LLC Makes New Investment in Caterpillar Inc. (NYSE:CAT)

Sloy Dahl & Holst LLC purchased a new position in Caterpillar Inc. (NYSE:CAT) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 566 shares of the industrial products company’s stock, valued at approximately $207,000.

Several other hedge funds have also added to or reduced their stakes in the business. Southland Equity Partners LLC lifted its stake in Caterpillar by 4.0% in the first quarter. Southland Equity Partners LLC now owns 784 shares of the industrial products company’s stock worth $287,000 after purchasing an additional 30 shares during the last quarter. Davis Investment Partners LLC raised its stake in shares of Caterpillar by 2.1% during the first quarter. Davis Investment Partners LLC now owns 1,454 shares of the industrial products company’s stock valued at $541,000 after acquiring an additional 30 shares during the last quarter. Exchange Capital Management Inc. boosted its holdings in shares of Caterpillar by 3.3% during the first quarter. Exchange Capital Management Inc. now owns 1,016 shares of the industrial products company’s stock worth $372,000 after purchasing an additional 32 shares during the period. McIlrath & Eck LLC grew its stake in shares of Caterpillar by 4.4% in the fourth quarter. McIlrath & Eck LLC now owns 789 shares of the industrial products company’s stock worth $233,000 after purchasing an additional 33 shares during the last quarter. Finally, Versant Capital Management Inc increased its holdings in Caterpillar by 7.4% during the 1st quarter. Versant Capital Management Inc now owns 480 shares of the industrial products company’s stock valued at $176,000 after purchasing an additional 33 shares during the period. 70.98% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CAT shares. Truist Financial began coverage on Caterpillar in a research report on Thursday, March 14th. They issued a “buy” rating and a $390.00 price objective on the stock. Oppenheimer restated a “market perform” rating on shares of Caterpillar in a report on Thursday, April 18th. The Goldman Sachs Group upped their target price on Caterpillar from $357.00 to $408.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. HSBC upped their target price on Caterpillar from $330.00 to $360.00 and gave the company a “hold” rating in a report on Tuesday, April 30th. Finally, Citigroup began coverage on Caterpillar in a report on Wednesday, June 26th. They set a “buy” rating and a $380.00 target price for the company. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Caterpillar presently has a consensus rating of “Hold” and a consensus target price of $329.63.

Caterpillar Stock Up 0.7 %

NYSE CAT traded up $2.38 during mid-day trading on Wednesday, reaching $330.14. The stock had a trading volume of 480,596 shares, compared to its average volume of 2,699,732. The stock has a market cap of $161.45 billion, a PE ratio of 14.90, a price-to-earnings-growth ratio of 1.71 and a beta of 1.12. Caterpillar Inc. has a 1 year low of $223.76 and a 1 year high of $382.01. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.35 and a quick ratio of 0.83. The company has a fifty day moving average price of $339.03 and a 200 day moving average price of $330.08.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Thursday, April 25th. The industrial products company reported $5.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.12 by $0.48. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. The firm had revenue of $15.80 billion for the quarter, compared to the consensus estimate of $16.07 billion. On average, research analysts expect that Caterpillar Inc. will post 21.8 earnings per share for the current year.

Caterpillar Increases Dividend

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

Caterpillar declared that its board has authorized a share buyback plan on Wednesday, June 12th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to purchase up to 12.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Caterpillar

In related news, Director David Maclennan bought 500 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was acquired at an average cost of $337.39 per share, for a total transaction of $168,695.00. Following the purchase, the director now owns 5,738 shares in the company, valued at $1,935,943.82. The acquisition was disclosed in a filing with the SEC, which is available through this link. In other Caterpillar news, insider Cheryl H. Johnson sold 1,508 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $340.00, for a total value of $512,720.00. Following the transaction, the insider now directly owns 20,023 shares in the company, valued at $6,807,820. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David Maclennan acquired 500 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were acquired at an average cost of $337.39 per share, with a total value of $168,695.00. Following the transaction, the director now owns 5,738 shares in the company, valued at $1,935,943.82. The disclosure for this purchase can be found here. 0.33% of the stock is owned by insiders.

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.