West Wealth Group LLC acquired a new stake in Caterpillar Inc. (NYSE:CAT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 635 shares of the industrial products company's stock, valued at approximately $230,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC grew its holdings in Caterpillar by 39,534.0% during the 3rd quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company's stock valued at $8,356,930,000 after buying an additional 2,131,276 shares in the last quarter. Zurich Insurance Group Ltd FI raised its position in Caterpillar by 4,018.6% in the 3rd quarter. Zurich Insurance Group Ltd FI now owns 255,355 shares of the industrial products company's stock worth $99,874,000 after purchasing an additional 249,155 shares during the period. Fisher Asset Management LLC grew its position in Caterpillar by 2.3% during the 3rd quarter. Fisher Asset Management LLC now owns 8,952,632 shares of the industrial products company's stock worth $3,501,554,000 after acquiring an additional 205,012 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in shares of Caterpillar by 34.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 782,133 shares of the industrial products company's stock valued at $305,908,000 after acquiring an additional 200,210 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in Caterpillar by 106.2% in the third quarter. Assenagon Asset Management S.A. now owns 317,828 shares of the industrial products company's stock worth $124,309,000 after acquiring an additional 163,725 shares during the period. 70.98% of the stock is currently owned by institutional investors.
Caterpillar Price Performance
NYSE:CAT traded down $13.03 during trading hours on Monday, hitting $394.60. 2,963,243 shares of the stock traded hands, compared to its average volume of 2,204,195. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. The stock has a 50 day moving average price of $381.07 and a 200 day moving average price of $369.79. The company has a market cap of $190.51 billion, a price-to-earnings ratio of 18.29, a price-to-earnings-growth ratio of 1.97 and a beta of 1.13. Caterpillar Inc. has a 1 year low of $297.45 and a 1 year high of $418.50.
Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.33 by ($0.16). The company had revenue of $16.11 billion during the quarter, compared to the consensus estimate of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The business's revenue was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.52 earnings per share. Sell-side analysts forecast that Caterpillar Inc. will post 21.69 EPS for the current fiscal year.
Caterpillar Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Tuesday, January 21st will be issued a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date is Tuesday, January 21st. Caterpillar's dividend payout ratio (DPR) is presently 26.15%.
Insiders Place Their Bets
In other Caterpillar news, CAO William E. Schaupp sold 968 shares of the firm's stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $380.98, for a total value of $368,788.64. Following the completion of the sale, the chief accounting officer now directly owns 1,686 shares in the company, valued at $642,332.28. This trade represents a 36.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gerald Johnson acquired 100 shares of the stock in a transaction dated Wednesday, December 4th. The stock was acquired at an average cost of $398.57 per share, with a total value of $39,857.00. Following the transaction, the director now directly owns 2,953 shares in the company, valued at approximately $1,176,977.21. This represents a 3.51 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 33,868 shares of company stock valued at $13,480,389 over the last ninety days. 0.29% of the stock is owned by insiders.
Analyst Ratings Changes
CAT has been the subject of several research reports. Truist Financial decreased their target price on Caterpillar from $471.00 to $455.00 and set a "buy" rating for the company in a research report on Thursday, January 16th. UBS Group increased their price objective on Caterpillar from $285.00 to $295.00 and gave the stock a "sell" rating in a report on Monday, November 4th. Citigroup dropped their target price on shares of Caterpillar from $460.00 to $420.00 and set a "buy" rating on the stock in a report on Tuesday, January 14th. Bank of America lifted their price target on shares of Caterpillar from $376.00 to $434.00 and gave the company a "buy" rating in a research report on Monday, September 30th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Caterpillar from $500.00 to $515.00 and gave the stock an "overweight" rating in a report on Monday, December 9th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $380.60.
Check Out Our Latest Analysis on Caterpillar
Caterpillar Company Profile
(
Free Report)
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.
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