OneAscent Wealth Management LLC Has $716,000 Stock Position in Caterpillar Inc. (NYSE:CAT)

OneAscent Wealth Management LLC lifted its position in Caterpillar Inc. (NYSE:CAT) by 71.6% in the first quarter, Holdings Channel.com reports. The institutional investor owned 1,955 shares of the industrial products company’s stock after purchasing an additional 816 shares during the period. OneAscent Wealth Management LLC’s holdings in Caterpillar were worth $716,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Southland Equity Partners LLC grew its position in Caterpillar by 4.0% during the 1st quarter. Southland Equity Partners LLC now owns 784 shares of the industrial products company’s stock worth $287,000 after acquiring an additional 30 shares during the last quarter. Davis Investment Partners LLC lifted its holdings in Caterpillar by 2.1% in the 1st quarter. Davis Investment Partners LLC now owns 1,454 shares of the industrial products company’s stock worth $541,000 after buying an additional 30 shares during the period. McIlrath & Eck LLC lifted its holdings in Caterpillar by 4.4% in the 4th quarter. McIlrath & Eck LLC now owns 789 shares of the industrial products company’s stock worth $233,000 after buying an additional 33 shares during the period. Versant Capital Management Inc lifted its holdings in Caterpillar by 7.4% in the 1st quarter. Versant Capital Management Inc now owns 480 shares of the industrial products company’s stock worth $176,000 after buying an additional 33 shares during the period. Finally, Lodestar Private Asset Management LLC lifted its holdings in Caterpillar by 4.4% in the 4th quarter. Lodestar Private Asset Management LLC now owns 830 shares of the industrial products company’s stock worth $245,000 after buying an additional 35 shares during the period. Institutional investors own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

CAT has been the subject of several research analyst reports. Raymond James initiated coverage on Caterpillar in a report on Friday. They issued a “market perform” rating for the company. The Goldman Sachs Group raised their target price on Caterpillar from $357.00 to $408.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Stifel Nicolaus cut Caterpillar from a “buy” rating to a “hold” rating and raised their target price for the company from $293.00 to $350.00 in a research note on Friday, April 26th. Citigroup started coverage on Caterpillar in a research note on Wednesday. They issued a “buy” rating and a $380.00 target price for the company. Finally, JPMorgan Chase & Co. raised their target price on Caterpillar from $385.00 to $435.00 and gave the company an “overweight” rating in a research note on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $329.63.

Insiders Place Their Bets

In other news, insider Cheryl H. Johnson sold 1,508 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $340.00, for a total value of $512,720.00. Following the completion of the transaction, 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 SEC, which is accessible through this hyperlink. In related news, insider Cheryl H. Johnson sold 1,508 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 20,023 shares of the company’s stock, valued at $6,807,820. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Lange Bob De sold 21,847 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 71,115 shares of the company’s stock, valued at $25,380,943.50. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Caterpillar Stock Performance

Shares of CAT traded up $5.64 during trading hours on Friday, hitting $333.10. The stock had a trading volume of 8,891,479 shares, compared to its average volume of 3,519,845. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.35 and a quick ratio of 0.83. Caterpillar Inc. has a 12 month low of $223.76 and a 12 month high of $382.01. The firm has a market capitalization of $162.90 billion, a PE ratio of 15.04, a PEG ratio of 1.68 and a beta of 1.14. The stock has a fifty day moving average price of $340.31 and a 200 day moving average price of $328.57.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data 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 return on equity of 58.61% and a net margin of 16.79%. The company had revenue of $15.80 billion during the quarter, compared to analyst estimates of $16.07 billion. Analysts anticipate that Caterpillar Inc. will post 21.84 EPS for the current year.

Caterpillar Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Monday, July 22nd will be given a $1.41 dividend. This is a boost from Caterpillar’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Monday, July 22nd. This represents a $5.64 dividend on an annualized basis and a yield of 1.69%. Caterpillar’s dividend payout ratio is presently 23.48%.

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

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.