Adage Capital Partners GP L.L.C. Buys Shares of 72,027 Caterpillar Inc. (NYSE:CAT)

Adage Capital Partners GP L.L.C. bought a new stake in Caterpillar Inc. (NYSE:CAT - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 72,027 shares of the industrial products company's stock, valued at approximately $26,129,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CAT. Flagship Wealth Advisors LLC acquired a new stake in Caterpillar in the fourth quarter worth approximately $26,000. Halbert Hargrove Global Advisors LLC bought a new position in Caterpillar during the fourth quarter valued at about $27,000. Cyrus J. Lawrence LLC acquired a new position in Caterpillar during the fourth quarter worth about $27,000. Noble Wealth Management PBC acquired a new stake in Caterpillar in the 4th quarter valued at about $31,000. Finally, Retirement Wealth Solutions LLC bought a new position in shares of Caterpillar during the 4th quarter valued at about $34,000. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Stock Up 0.2 %

Shares of CAT stock traded up $0.51 during trading on Monday, hitting $306.96. 2,189,607 shares of the company were exchanged, compared to its average volume of 2,620,106. The firm has a market capitalization of $146.71 billion, a price-to-earnings ratio of 13.91, a P/E/G ratio of 1.87 and a beta of 1.21. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42. The business's 50-day simple moving average is $320.49 and its 200 day simple moving average is $359.48. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $418.50.

Caterpillar (NYSE:CAT - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 EPS for the quarter, beating the consensus estimate 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, analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Stockholders of record on Monday, April 21st will be issued a dividend of $1.41 per share. The ex-dividend date of this dividend is Monday, April 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.84%. Caterpillar's dividend payout ratio is 25.56%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CAT. Morgan Stanley upgraded shares of Caterpillar from an "underweight" rating to an "equal weight" rating and dropped their target price for the stock from $300.00 to $283.00 in a report on Wednesday, April 16th. JPMorgan Chase & Co. cut their price objective on Caterpillar from $490.00 to $380.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Truist Financial decreased their target price on Caterpillar from $438.00 to $389.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Citigroup reduced their target price on Caterpillar from $430.00 to $320.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Finally, StockNews.com cut Caterpillar from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $361.75.

Insider Activity at Caterpillar

In related news, insider Jason Kaiser sold 2,425 shares of Caterpillar stock in a transaction 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 sale, the insider now owns 6,275 shares of the company's stock, valued at approximately $2,225,742.50. The trade was a 27.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gerald Johnson bought 100 shares of the stock in a transaction on Tuesday, February 4th. The shares were acquired at an average cost of $365.57 per share, for a total transaction of $36,557.00. Following the completion of the transaction, the director now directly owns 3,053 shares of the company's stock, valued at approximately $1,116,085.21. The trade was a 3.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by company insiders.

About Caterpillar

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.