Bernard Wealth Management Corp. Buys New Stake in Caterpillar Inc. (NYSE:CAT)

Bernard Wealth Management Corp. bought a new stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,727 shares of the industrial products company's stock, valued at approximately $1,715,000. Caterpillar accounts for 1.2% of Bernard Wealth Management Corp.'s holdings, making the stock its 20th largest holding.

A number of other hedge funds have also recently modified their holdings of the business. Flagship Wealth Advisors LLC bought a new position in Caterpillar in the 4th quarter worth about $26,000. Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Caterpillar in the fourth quarter valued at approximately $27,000. Cyrus J. Lawrence LLC bought a new position in Caterpillar in the fourth quarter worth approximately $27,000. Noble Wealth Management PBC purchased a new position in Caterpillar during the 4th quarter worth $31,000. Finally, Retirement Wealth Solutions LLC bought a new stake in Caterpillar during the 4th quarter valued at $34,000. Institutional investors own 70.98% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on CAT shares. Bank of America cut their price target on Caterpillar from $452.00 to $414.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Truist Financial cut their target price on shares of Caterpillar from $438.00 to $389.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Morgan Stanley lowered their price target on shares of Caterpillar from $330.00 to $300.00 and set an "underweight" rating for the company in a research report on Friday, January 31st. Raymond James raised shares of Caterpillar from a "market perform" rating to an "outperform" rating in a report on Monday, February 3rd. Finally, Wedbush upgraded Caterpillar to an "outperform" rating in a report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $373.20.

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Insider Buying and Selling at Caterpillar

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the company's stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $380.09, for a total value of $3,800,900.00. Following the sale, the chief financial officer now directly owns 45,182 shares of the company's stock, valued at approximately $17,173,226.38. This represents a 18.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jason Kaiser sold 2,425 shares of Caterpillar stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total value of $860,147.50. Following the transaction, the insider now owns 6,275 shares of the company's stock, valued at $2,225,742.50. The trade was a 27.87 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.29% of the company's stock.

Caterpillar Stock Up 1.4 %

Shares of CAT stock traded up $4.19 during trading hours on Friday, reaching $293.35. 3,197,039 shares of the company's stock were exchanged, compared to its average volume of 2,628,198. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $418.50. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40. The stock has a market cap of $140.20 billion, a PE ratio of 13.29, a PEG ratio of 1.87 and a beta of 1.21. The stock's fifty day moving average price is $333.97 and its two-hundred day moving average price is $367.00.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, beating 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%. Research analysts predict that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

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

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.