ARS Wealth Advisors Group LLC Lowers Stake in Caterpillar Inc. (NYSE:CAT)

ARS Wealth Advisors Group LLC reduced its position in shares of Caterpillar Inc. (NYSE:CAT) by 2.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,574 shares of the industrial products company’s stock after selling 166 shares during the quarter. ARS Wealth Advisors Group LLC’s holdings in Caterpillar were worth $1,838,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Flagship Wealth Advisors LLC acquired a new position in shares of Caterpillar during the 4th quarter worth about $26,000. Halbert Hargrove Global Advisors LLC acquired a new position in shares of Caterpillar during the 4th quarter worth about $27,000. Cyrus J. Lawrence LLC acquired a new position in shares of Caterpillar during the 4th quarter worth about $27,000. Noble Wealth Management PBC acquired a new position in shares of Caterpillar during the 4th quarter worth about $31,000. Finally, Investment Management Corp VA ADV acquired a new position in shares of Caterpillar during the 4th quarter worth about $33,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Stock Up 1.3%

Shares of NYSE CAT opened at $353.49 on Friday. The company has a 50 day simple moving average of $320.74 and a 200-day simple moving average of $349.69. The company has a market capitalization of $166.51 billion, a P/E ratio of 16.02, a P/E/G ratio of 1.87 and a beta of 1.37. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $418.50.

Caterpillar (NYSE:CAT) last announced 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). The firm had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.64 billion. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. The firm’s quarterly revenue was down 9.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.60 EPS. On average, equities research analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Monday, April 21st were issued a dividend of $1.41 per share. The ex-dividend date was Monday, April 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.60%. Caterpillar’s dividend payout ratio is currently 27.49%.

Analyst Ratings Changes

CAT has been the subject of several research analyst reports. 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. 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. Robert W. Baird upgraded shares of Caterpillar from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $309.00 to $395.00 in a report on Tuesday, May 13th. JPMorgan Chase & Co. cut their price objective on shares of Caterpillar from $490.00 to $380.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Finally, Citigroup increased their price objective on shares of Caterpillar from $320.00 to $370.00 and gave the company a “buy” rating in a report on Monday, May 5th. Six 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 company’s stock. Based on data from MarketBeat.com, Caterpillar presently has a consensus rating of “Moderate Buy” and an average price target of $372.92.

Insider Transactions at Caterpillar

In related news, Director David Maclennan acquired 375 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was purchased at an average price of $320.70 per share, with a total value of $120,262.50. Following the transaction, the director now owns 6,653 shares of the company’s stock, valued at approximately $2,133,617.10. This trade represents a 5.97% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.33% of the company’s stock.

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.