A number of other institutional investors and hedge funds also recently modified their holdings of the stock. BCK Partners Inc. purchased a new position in shares of Caterpillar during the first quarter valued at $2,580,000. Sei Investments Co. grew its holdings in shares of Caterpillar by 17.3% during the first quarter. Sei Investments Co. now owns 65,643 shares of the industrial products company’s stock valued at $14,634,000 after buying an additional 9,695 shares in the last quarter. Dakota Wealth Management purchased a new position in shares of Caterpillar during the first quarter valued at $405,000. Mather Group LLC. grew its holdings in shares of Caterpillar by 6.8% during the first quarter. Mather Group LLC. now owns 2,592 shares of the industrial products company’s stock valued at $577,000 after buying an additional 165 shares in the last quarter. Finally, NewEdge Advisors LLC grew its holdings in shares of Caterpillar by 4.4% during the first quarter. NewEdge Advisors LLC now owns 49,705 shares of the industrial products company’s stock valued at $11,075,000 after buying an additional 2,076 shares in the last quarter. 68.02% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research analysts have recently weighed in on CAT shares. Credit Suisse Group lifted their price target on Caterpillar from $236.00 to $255.00 and gave the company an “outperform” rating in a report on Friday, October 28th. UBS Group downgraded Caterpillar from a “buy” rating to a “neutral” rating and boosted their target price for the company from $225.00 to $230.00 in a research note on Monday, October 31st. Bank of America upgraded Caterpillar from a “neutral” rating to a “buy” rating and boosted their target price for the company from $217.00 to $295.00 in a research note on Friday. Cowen boosted their target price on Caterpillar from $240.00 to $264.00 in a research note on Friday, December 9th. Finally, Daiwa Capital Markets boosted their target price on Caterpillar to $205.00 in a research note on Tuesday, November 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $241.00.
Insider Buying and Selling at Caterpillar
In other news, insider Lange Bob De sold 11,000 shares of the company’s stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $250.00, for a total value of $2,750,000.00. Following the sale, the insider now directly owns 44,559 shares in the company, valued at approximately $11,139,750. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, General Counsel Suzette M. Long sold 1,884 shares of the stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $237.28, for a total transaction of $447,035.52. Following the sale, the general counsel now directly owns 8,665 shares in the company, valued at approximately $2,056,031.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Lange Bob De sold 11,000 shares of the stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $250.00, for a total value of $2,750,000.00. Following the sale, the insider now owns 44,559 shares in the company, valued at $11,139,750. The disclosure for this sale can be found here. Insiders sold a total of 54,915 shares of company stock valued at $13,452,445 in the last quarter. Corporate insiders own 0.27% of the company’s stock.
Caterpillar Trading Up 1.3 %
Caterpillar stock opened at $258.46 on Tuesday. The business has a 50 day moving average price of $237.53 and a two-hundred day moving average price of $204.02. The company has a quick ratio of 0.85, a current ratio of 1.41 and a debt-to-equity ratio of 1.63. The stock has a market cap of $134.51 billion, a price-to-earnings ratio of 18.77, a price-to-earnings-growth ratio of 1.41 and a beta of 1.11. Caterpillar Inc. has a 12 month low of $160.60 and a 12 month high of $258.58.
Caterpillar (NYSE:CAT – Get Rating) last posted its quarterly earnings results on Thursday, October 27th. The industrial products company reported $3.95 EPS for the quarter, beating the consensus estimate of $3.19 by $0.76. The firm had revenue of $14.99 billion during the quarter, compared to analysts’ expectations of $14.34 billion. Caterpillar had a return on equity of 41.76% and a net margin of 13.02%. As a group, equities analysts forecast that Caterpillar Inc. will post 13.85 EPS for the current year.
Caterpillar Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, February 17th. Shareholders of record on Friday, January 20th will be issued a $1.20 dividend. The ex-dividend date of this dividend is Thursday, January 19th. This represents a $4.80 annualized dividend and a yield of 1.86%. Caterpillar’s dividend payout ratio (DPR) is 34.86%.
Caterpillar Company Profile
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, and industrial gas turbines. Its Construction Industries segment offers asphalt pavers, compactors, cold planers, feller bunchers, harvesters, motorgraders, pipelayers, road reclaimers, skidders, telehandlers, and utility vehicles; backhoe, knuckleboom, compact track, multi-terrain, skid steer, and track-type loaders; forestry and wheel excavators; and site prep and track-type tractors.
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