Pines Wealth Management LLC Invests $439,000 in Caterpillar Inc. (NYSE:CAT)

Pines Wealth Management LLC acquired a new stake in Caterpillar Inc. (NYSE:CAT - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,251 shares of the industrial products company's stock, valued at approximately $439,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nordea Investment Management AB raised its stake in Caterpillar by 1.6% during the 4th quarter. Nordea Investment Management AB now owns 635,750 shares of the industrial products company's stock valued at $231,686,000 after acquiring an additional 10,212 shares during the last quarter. Alpha Cubed Investments LLC increased its holdings in shares of Caterpillar by 5.6% in the third quarter. Alpha Cubed Investments LLC now owns 116,566 shares of the industrial products company's stock valued at $45,591,000 after purchasing an additional 6,212 shares during the period. Citizens Financial Group Inc. RI raised its stake in shares of Caterpillar by 43.0% during the third quarter. Citizens Financial Group Inc. RI now owns 13,902 shares of the industrial products company's stock worth $5,437,000 after purchasing an additional 4,181 shares during the last quarter. First Affirmative Financial Network acquired a new stake in shares of Caterpillar during the third quarter worth $204,000. Finally, Inspire Advisors LLC increased its stake in Caterpillar by 25.8% in the 3rd quarter. Inspire Advisors LLC now owns 8,266 shares of the industrial products company's stock valued at $3,233,000 after buying an additional 1,694 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Caterpillar

In other Caterpillar news, CAO William E. Schaupp sold 968 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $380.98, for a total transaction of $368,788.64. Following the transaction, the chief accounting officer now directly owns 1,686 shares in the company, valued at $642,332.28. This represents a 36.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Daniel M. Dickinson sold 1,300 shares of the business's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $418.00, for a total transaction of $543,400.00. Following the completion of the sale, the director now directly owns 4,976 shares of the company's stock, valued at $2,079,968. The trade was a 20.71 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,868 shares of company stock valued at $9,679,489. Insiders own 0.29% of the company's stock.

Caterpillar Price Performance

Caterpillar stock traded up $6.08 during mid-day trading on Thursday, hitting $380.97. 1,201,200 shares of the company were exchanged, compared to its average volume of 1,910,442. The business's 50 day simple moving average is $380.79 and its two-hundred day simple moving average is $366.26. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86. The company has a market capitalization of $183.93 billion, a P/E ratio of 17.68, a PEG ratio of 1.72 and a beta of 1.13. Caterpillar Inc. has a 12-month low of $276.94 and a 12-month high of $418.50.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.33 by ($0.16). The company had revenue of $16.11 billion for the quarter, compared to analysts' expectations of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The firm's quarterly revenue was down 4.2% on a year-over-year basis. During the same period in the prior year, the firm earned $5.52 earnings per share. Analysts forecast that Caterpillar Inc. will post 21.68 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Tuesday, January 21st will be paid a $1.41 dividend. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.48%. Caterpillar's dividend payout ratio (DPR) is presently 26.15%.

Analysts Set New Price Targets

Several research firms have recently commented on CAT. Truist Financial reduced their target price on shares of Caterpillar from $471.00 to $455.00 and set a "buy" rating for the company in a research note on Thursday. StockNews.com downgraded shares of Caterpillar from a "buy" rating to a "hold" rating in a research report on Thursday, January 9th. Morgan Stanley cut Caterpillar from an "equal weight" rating to an "underweight" rating and dropped their target price for the stock from $349.00 to $332.00 in a research report on Monday, October 14th. Bank of America raised their price target on Caterpillar from $376.00 to $434.00 and gave the company a "buy" rating in a report on Monday, September 30th. Finally, Jefferies Financial Group upped their price objective on Caterpillar from $455.00 to $475.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $380.60.

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.