Valeo Financial Advisors LLC Acquires 299 Shares of Caterpillar Inc. (NYSE:CAT)

Valeo Financial Advisors LLC lifted its stake in shares of Caterpillar Inc. (NYSE:CAT) by 1.5% during the first quarter, Holdings Channel reports. The fund owned 20,629 shares of the industrial products company’s stock after buying an additional 299 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Caterpillar were worth $7,559,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Partnership Wealth Management LLC bought a new stake in Caterpillar in the 4th quarter valued at about $26,000. Richardson Financial Services Inc. acquired a new position in shares of Caterpillar during the fourth quarter worth approximately $27,000. Thompson Investment Management Inc. bought a new position in shares of Caterpillar in the 1st quarter worth $27,000. Gilfoyle & Co LLC acquired a new stake in Caterpillar in the 4th quarter valued at $30,000. Finally, Vima LLC acquired a new position in Caterpillar during the fourth quarter worth $30,000. 70.98% of the stock is owned by institutional investors.

Caterpillar Stock Performance

NYSE CAT traded up $2.85 on Wednesday, hitting $330.61. 1,351,052 shares of the stock traded hands, compared to its average volume of 2,706,586. The firm has a market capitalization of $161.68 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 1.71 and a beta of 1.12. The business’s fifty day moving average is $339.03 and its two-hundred day moving average is $330.08. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.83 and a current ratio of 1.35. Caterpillar Inc. has a 12 month low of $223.76 and a 12 month high of $382.01.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data 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 company had revenue of $15.80 billion during the quarter, compared to analyst estimates of $16.07 billion. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. As a group, equities analysts anticipate that Caterpillar Inc. will post 21.8 EPS for the current fiscal year.

Caterpillar announced that its Board of Directors has authorized a share repurchase plan on Wednesday, June 12th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to repurchase up to 12.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Caterpillar Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Monday, July 22nd will be paid 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 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date is Monday, July 22nd. Caterpillar’s dividend payout ratio is presently 23.48%.

Insider Activity at Caterpillar

In other Caterpillar news, insider Lange Bob De sold 21,847 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $356.90, for a total value of $7,797,194.30. Following the completion of the transaction, the insider now owns 71,115 shares in the company, valued at approximately $25,380,943.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Cheryl H. Johnson sold 1,508 shares of Caterpillar stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $340.00, for a total transaction of $512,720.00. Following the completion of the sale, the insider now owns 20,023 shares of the company’s stock, valued at $6,807,820. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Lange Bob De sold 21,847 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $356.90, for a total value of $7,797,194.30. Following the completion of the transaction, the insider now owns 71,115 shares in the company, valued at $25,380,943.50. The disclosure for this sale can be found here. 0.33% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. TD Cowen lifted their price objective on shares of Caterpillar from $338.00 to $340.00 and gave the company a “buy” rating in a report on Friday, April 26th. Stifel Nicolaus downgraded 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. Raymond James started coverage on Caterpillar in a research report on Friday, June 28th. They set a “market perform” rating on the stock. Oppenheimer restated a “market perform” rating on shares of Caterpillar in a research note on Thursday, April 18th. Finally, The Goldman Sachs Group upped their target price on shares of Caterpillar from $357.00 to $408.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $329.63.

Caterpillar Company 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.