Revolve Wealth Partners LLC Invests $249,000 in Caterpillar Inc. (NYSE:CAT)

Revolve Wealth Partners LLC bought a new position in Caterpillar Inc. (NYSE:CAT) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 678 shares of the industrial products company’s stock, valued at approximately $249,000.

Several other large investors have also recently modified their holdings of CAT. Norges Bank purchased a new position in shares of Caterpillar in the fourth quarter worth about $1,660,560,000. International Assets Investment Management LLC grew its stake in Caterpillar by 28,603.5% during the fourth quarter. International Assets Investment Management LLC now owns 1,494,018 shares of the industrial products company’s stock valued at $4,417,360,000 after acquiring an additional 1,488,813 shares in the last quarter. Capital Wealth Planning LLC grew its stake in Caterpillar by 27,495.2% during the fourth quarter. Capital Wealth Planning LLC now owns 1,182,453 shares of the industrial products company’s stock valued at $349,616,000 after acquiring an additional 1,178,168 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Caterpillar by 19.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,264,635 shares of the industrial products company’s stock valued at $947,875,000 after acquiring an additional 529,420 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich grew its stake in Caterpillar by 5,293.1% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 482,360 shares of the industrial products company’s stock valued at $142,620,000 after acquiring an additional 473,416 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Buying and Selling

In related news, Director David Maclennan acquired 500 shares of Caterpillar stock in a transaction on 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider Lange Bob De sold 21,847 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $356.90, for a total value of $7,797,194.30. Following the sale, the insider now directly owns 71,115 shares of the company’s stock, valued at approximately $25,380,943.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David Maclennan bought 500 shares of Caterpillar stock in a transaction dated 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 completion of the transaction, the director now directly 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.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Oppenheimer reaffirmed a “market perform” rating on shares of Caterpillar in a research note on Thursday, April 18th. Truist Financial initiated coverage on shares of Caterpillar in a research report on Thursday, March 14th. They set a “buy” rating and a $390.00 target price for the company. The Goldman Sachs Group lifted their target price on shares of Caterpillar from $357.00 to $408.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. TD Cowen lifted their target price on shares of Caterpillar from $338.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Caterpillar from $385.00 to $435.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $329.63.

Caterpillar Stock Up 0.2 %

Shares of NYSE CAT opened at $327.51 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.35 and a debt-to-equity ratio of 1.41. Caterpillar Inc. has a 52 week low of $223.76 and a 52 week high of $382.01. The firm’s fifty day moving average is $340.74 and its 200 day moving average is $328.07. The company has a market cap of $160.17 billion, a price-to-earnings ratio of 14.79, a PEG ratio of 1.67 and a beta of 1.14.

Caterpillar (NYSE:CAT) last issued its earnings results on Thursday, April 25th. The industrial products company reported $5.60 EPS for the quarter, topping the consensus estimate of $5.12 by $0.48. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. The company had revenue of $15.80 billion for the quarter, compared to the consensus estimate of $16.07 billion. On average, equities research analysts expect that Caterpillar Inc. will post 21.84 earnings per share for the current year.

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

Caterpillar Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Monday, July 22nd will be paid a $1.41 dividend. This represents a $5.64 annualized dividend and a dividend yield of 1.72%. This is an increase 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%.

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.