Rossby Financial LCC Makes New Investment in Caterpillar Inc. (NYSE:CAT)

Rossby Financial LCC purchased a new stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,183 shares of the industrial products company's stock, valued at approximately $429,000.

Other hedge funds have also made changes to their positions in the company. Flagship Wealth Advisors LLC purchased a new stake in shares of Caterpillar in the fourth quarter worth about $26,000. Halbert Hargrove Global Advisors LLC acquired a new stake in Caterpillar in the fourth quarter valued at approximately $27,000. Cyrus J. Lawrence LLC purchased a new stake in shares of Caterpillar during the fourth quarter valued at approximately $27,000. Noble Wealth Management PBC acquired a new position in shares of Caterpillar during the fourth quarter worth $31,000. Finally, Retirement Wealth Solutions LLC purchased a new position in shares of Caterpillar during the 4th quarter valued at approximately $34,000. Hedge funds and other institutional investors own 70.98% of the company's stock.

Wall Street Analyst Weigh In

CAT has been the topic of a number of recent analyst reports. Bank of America cut their target price on shares of Caterpillar from $452.00 to $414.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. DA Davidson boosted their price target on Caterpillar from $350.00 to $357.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th. Wedbush upgraded shares of Caterpillar to an "outperform" rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. decreased their price target on shares of Caterpillar from $490.00 to $380.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Finally, StockNews.com downgraded Caterpillar from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $361.64.

Caterpillar Price Performance

CAT traded up $3.68 on Friday, reaching $293.82. The company had a trading volume of 2,716,340 shares, compared to its average volume of 2,639,101. Caterpillar Inc. has a one year low of $267.30 and a one year high of $418.50. The company has a market capitalization of $140.42 billion, a P/E ratio of 13.31, a PEG ratio of 1.87 and a beta of 1.21. The company has a fifty day moving average of $327.08 and a 200-day moving average of $363.98. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40.

Caterpillar (NYSE:CAT - Get Free Report) last released its earnings results on Thursday, January 30th. The industrial products company reported $5.14 EPS for the quarter, topping analysts' consensus estimates of $4.97 by $0.17. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. As a group, equities research analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Monday, April 21st will be given a $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 1.92%. The ex-dividend date is Monday, April 21st. Caterpillar's dividend payout ratio is 25.56%.

Insider Transactions at Caterpillar

In related news, Director Gerald Johnson bought 100 shares of the business's stock in a transaction on Tuesday, February 4th. The shares were bought at an average cost of $365.57 per share, for a total transaction of $36,557.00. Following the completion of the acquisition, the director now directly owns 3,053 shares in the company, valued at approximately $1,116,085.21. This represents a 3.39 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jason Kaiser sold 2,425 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total value of $860,147.50. Following the completion of the transaction, the insider now directly owns 6,275 shares in the company, valued at $2,225,742.50. The trade was a 27.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by company insiders.

Caterpillar 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.