Octavia Wealth Advisors LLC Takes Position in Caterpillar Inc. (NYSE:CAT)

Octavia Wealth Advisors LLC acquired a new stake in shares of Caterpillar Inc. (NYSE:CAT) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,036 shares of the industrial products company’s stock, valued at approximately $306,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Atlas Capital Advisors LLC lifted its holdings in shares of Caterpillar by 272.4% during the first quarter. Atlas Capital Advisors LLC now owns 108 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 79 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Caterpillar by 730.8% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 108 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 95 shares during the period. Gilfoyle & Co LLC bought a new position in shares of Caterpillar during the fourth quarter valued at $30,000. A.P. Gilfoyle & Co. L.P. bought a new position in shares of Caterpillar during the fourth quarter valued at $30,000. Finally, First Capital Advisors Group LLC. bought a new position in shares of Caterpillar during the second quarter valued at $30,000. 70.98% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CAT. Truist Financial began coverage on Caterpillar in a report on Thursday, March 14th. They set a “buy” rating and a $390.00 price objective for the company. 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. Morgan Stanley began coverage on Caterpillar in a research note on Monday, January 8th. They issued an “equal weight” rating and a $270.00 target price for the company. TD Cowen raised their target price on Caterpillar from $300.00 to $338.00 and gave the company an “outperform” rating in a research note on Tuesday, February 6th. Finally, StockNews.com lowered Caterpillar from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $307.56.

Caterpillar Price Performance

Shares of CAT opened at $359.65 on Wednesday. The company has a current ratio of 1.35, a quick ratio of 0.87 and a debt-to-equity ratio of 1.25. Caterpillar Inc. has a 1 year low of $204.04 and a 1 year high of $382.01. The stock has a market cap of $179.61 billion, a P/E ratio of 17.86, a price-to-earnings-growth ratio of 1.62 and a beta of 1.17. The stock’s 50-day moving average price is $344.54 and its two-hundred day moving average price is $296.35.

Caterpillar (NYSE:CAT) last issued its earnings results on Monday, February 5th. The industrial products company reported $5.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.76 by $0.47. Caterpillar had a return on equity of 56.99% and a net margin of 15.41%. The firm had revenue of $17.07 billion for the quarter, compared to analysts’ expectations of $17.06 billion. During the same quarter last year, the business earned $3.86 earnings per share. The company’s revenue was up 2.8% compared to the same quarter last year. On average, equities analysts predict that Caterpillar Inc. will post 21.33 earnings per share for the current year.

Caterpillar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, April 22nd will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date is Friday, April 19th. Caterpillar’s dividend payout ratio (DPR) is currently 25.82%.

Insiders Place Their Bets

In other news, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $300.04, for a total transaction of $3,000,400.00. Following the transaction, the chief financial officer now owns 67,317 shares in the company, valued at approximately $20,197,792.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $300.04, for a total transaction of $3,000,400.00. Following the transaction, the chief financial officer now owns 67,317 shares in the company, valued at approximately $20,197,792.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Anthony D. Fassino sold 4,575 shares of Caterpillar stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $329.80, for a total value of $1,508,835.00. Following the transaction, the insider now owns 23,474 shares in the company, valued at approximately $7,741,725.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,769 shares of company stock worth $14,509,306. Insiders own 0.33% of the company’s stock.

Caterpillar Company 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.