Larson Financial Group LLC Has $564,000 Holdings in Caterpillar Inc. (NYSE:CAT)

Larson Financial Group LLC grew its position in Caterpillar Inc. (NYSE:CAT) by 14.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,539 shares of the industrial products company’s stock after acquiring an additional 198 shares during the period. Larson Financial Group LLC’s holdings in Caterpillar were worth $564,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of CAT. Vanguard Group Inc. lifted its stake in shares of Caterpillar by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 48,353,370 shares of the industrial products company’s stock valued at $14,296,641,000 after purchasing an additional 129,216 shares during the period. Capital World Investors boosted its stake in Caterpillar by 0.3% during the 4th quarter. Capital World Investors now owns 29,029,953 shares of the industrial products company’s stock worth $8,583,372,000 after acquiring an additional 96,479 shares during the last quarter. Fisher Asset Management LLC raised its holdings in Caterpillar by 2.3% in the fourth quarter. Fisher Asset Management LLC now owns 8,145,840 shares of the industrial products company’s stock worth $2,408,481,000 after purchasing an additional 179,908 shares during the period. Norges Bank bought a new position in shares of Caterpillar during the fourth quarter worth $1,660,560,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Caterpillar by 19.4% in the 4th 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 buying an additional 529,420 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Stock Performance

Shares of CAT stock traded up $2.42 on Wednesday, hitting $328.48. The company’s stock had a trading volume of 2,904,238 shares, compared to its average volume of 2,692,612. The company has a market capitalization of $160.64 billion, a PE ratio of 14.79, a PEG ratio of 1.70 and a beta of 1.12. Caterpillar Inc. has a fifty-two week low of $223.76 and a fifty-two week high of $382.01. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.83 and a current ratio of 1.35. The stock’s 50 day moving average is $337.33 and its 200-day moving average is $331.46.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Thursday, April 25th. The industrial products company reported $5.60 EPS for the quarter, beating 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 business had revenue of $15.80 billion during the quarter, compared to the consensus estimate of $16.07 billion. Equities research analysts expect that Caterpillar Inc. will post 21.73 earnings per share for the current fiscal year.

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

Caterpillar Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Monday, July 22nd will be given a dividend of $1.41 per share. This is an increase from Caterpillar’s previous quarterly dividend of $1.30. This represents a $5.64 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend is Monday, July 22nd. Caterpillar’s dividend payout ratio is currently 23.48%.

Insiders Place Their Bets

In other news, Director David Maclennan acquired 500 shares of the stock in a transaction dated Friday, May 3rd. The stock was bought at an average price of $337.39 per share, with a total value of $168,695.00. Following the completion of the purchase, the director now directly owns 5,738 shares of the company’s stock, valued at approximately $1,935,943.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Caterpillar news, Director David Maclennan purchased 500 shares of the business’s 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 acquisition, the director now owns 5,738 shares of the company’s stock, valued at $1,935,943.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 value of $512,720.00. Following the completion of the transaction, the insider now owns 20,023 shares in the company, valued at approximately $6,807,820. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CAT shares. Stifel Nicolaus cut Caterpillar from a “buy” rating to a “hold” rating and lifted their price objective for the company from $293.00 to $350.00 in a report on Friday, April 26th. TD Cowen increased their price objective on shares of Caterpillar from $338.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Raymond James started coverage on shares of Caterpillar in a research report on Friday, June 28th. They issued a “market perform” rating on the stock. JPMorgan Chase & Co. increased their target price on Caterpillar from $385.00 to $435.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th. Finally, Oppenheimer restated a “market perform” rating on shares of Caterpillar in a report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $329.63.

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.