637 Shares in Caterpillar Inc. (NYSE:CAT) Purchased by Steele Capital Management Inc.

Steele Capital Management Inc. bought a new position in shares of Caterpillar Inc. (NYSE:CAT) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 637 shares of the industrial products company’s stock, valued at approximately $234,000.

A number of other hedge funds have also recently bought and sold shares of CAT. Silvia Mccoll Wealth Management LLC increased its stake in Caterpillar by 6.9% in the 1st quarter. Silvia Mccoll Wealth Management LLC now owns 1,822 shares of the industrial products company’s stock worth $678,000 after purchasing an additional 118 shares in the last quarter. Claro Advisors LLC increased its stake in Caterpillar by 23.9% in the 1st quarter. Claro Advisors LLC now owns 1,616 shares of the industrial products company’s stock worth $592,000 after purchasing an additional 312 shares in the last quarter. Miracle Mile Advisors LLC increased its stake in Caterpillar by 7.7% in the 1st quarter. Miracle Mile Advisors LLC now owns 4,667 shares of the industrial products company’s stock worth $1,710,000 after purchasing an additional 334 shares in the last quarter. Chico Wealth RIA increased its stake in Caterpillar by 17.7% in the 1st quarter. Chico Wealth RIA now owns 969 shares of the industrial products company’s stock worth $355,000 after purchasing an additional 146 shares in the last quarter. Finally, Kowal Investment Group LLC increased its stake in Caterpillar by 3.0% in the 1st quarter. Kowal Investment Group LLC now owns 4,212 shares of the industrial products company’s stock worth $1,543,000 after purchasing an additional 124 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Stock Performance

CAT traded down $4.02 on Monday, hitting $329.08. The company had a trading volume of 2,941,653 shares, compared to its average volume of 2,722,123. The company’s fifty day moving average price is $339.74 and its 200 day moving average price is $329.78. 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 stock has a market cap of $160.94 billion, a price-to-earnings ratio of 14.86, a price-to-earnings-growth ratio of 1.71 and a beta of 1.12.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Thursday, April 25th. The industrial products company reported $5.60 EPS for the quarter, topping 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 company had revenue of $15.80 billion during the quarter, compared to analyst estimates of $16.07 billion. Equities analysts predict that Caterpillar Inc. will post 21.84 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Monday, July 22nd will be given a dividend of $1.41 per share. The ex-dividend date of this dividend is Monday, July 22nd. 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%. Caterpillar’s payout ratio is currently 23.48%.

Caterpillar declared that its board has approved a share repurchase program on Wednesday, June 12th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 12.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts have weighed in on CAT shares. JPMorgan Chase & Co. lifted 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. HSBC lifted their target price on Caterpillar from $330.00 to $360.00 and gave the company a “hold” rating in a research note on Tuesday, April 30th. Oppenheimer reaffirmed a “market perform” rating on shares of Caterpillar in a research note on Thursday, April 18th. Raymond James began coverage on Caterpillar in a research note on Friday. They set a “market perform” rating on the stock. Finally, Stifel Nicolaus lowered Caterpillar from a “buy” rating to a “hold” rating and lifted their price target for the company from $293.00 to $350.00 in a report on Friday, April 26th. 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $329.63.

Insider Activity

In other Caterpillar news, insider Lange Bob De sold 21,847 shares of the company’s stock in a transaction on 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 sale, the insider now directly owns 71,115 shares in the company, valued at $25,380,943.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director David Maclennan purchased 500 shares of the stock in a transaction on Friday, May 3rd. The shares were purchased 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 of the company’s stock, valued at approximately $1,935,943.82. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Lange Bob De sold 21,847 shares of the company’s stock in a transaction 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 completion of the sale, 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 currently owned by company 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.