Canada Pension Plan Investment Board Has $99.17 Million Position in Caterpillar Inc. (NYSE:CAT)

Canada Pension Plan Investment Board raised its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 384.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 273,366 shares of the industrial products company's stock after purchasing an additional 216,960 shares during the period. Canada Pension Plan Investment Board owned 0.06% of Caterpillar worth $99,166,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Caterpillar by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 46,809,540 shares of the industrial products company's stock valued at $16,980,629,000 after buying an additional 284,366 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Caterpillar by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 10,449,770 shares of the industrial products company's stock worth $3,790,841,000 after purchasing an additional 236,315 shares during the period. Fisher Asset Management LLC boosted its position in Caterpillar by 1.4% during the 4th quarter. Fisher Asset Management LLC now owns 9,081,775 shares of the industrial products company's stock valued at $3,294,505,000 after purchasing an additional 129,143 shares during the period. Norges Bank bought a new position in Caterpillar during the 4th quarter worth $2,184,364,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Caterpillar by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,289,101 shares of the industrial products company's stock valued at $1,193,154,000 after buying an additional 61,723 shares during the last quarter. Institutional investors own 70.98% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wedbush raised shares of Caterpillar to an "outperform" rating in a report on Monday, February 3rd. DA Davidson reduced their price objective on Caterpillar from $357.00 to $325.00 and set a "neutral" rating for the company in a research report on Monday. Truist Financial lowered their target price on Caterpillar from $438.00 to $389.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Evercore ISI boosted their price target on Caterpillar from $365.00 to $375.00 and gave the stock an "in-line" rating in a research report on Wednesday, February 19th. Finally, Morgan Stanley upgraded shares of Caterpillar from an "underweight" rating to an "equal weight" rating and cut their price objective for the company from $300.00 to $283.00 in a research note on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Caterpillar currently has a consensus rating of "Hold" and a consensus target price of $359.36.

Caterpillar Trading Up 1.8 %

Shares of CAT traded up $5.14 during trading hours on Wednesday, reaching $296.31. The stock had a trading volume of 1,063,918 shares, compared to its average volume of 2,633,780. The firm has a 50-day moving average of $324.47 and a 200 day moving average of $362.29. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. The company has a market cap of $141.62 billion, a P/E ratio of 13.43, a P/E/G ratio of 1.87 and a beta of 1.21. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $418.50.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share 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%. On average, sell-side analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 20th. Stockholders 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 annualized dividend and a dividend yield of 1.90%. Caterpillar's dividend payout ratio is currently 25.56%.

Insider Activity at Caterpillar

In other Caterpillar news, Director Gerald Johnson acquired 100 shares of Caterpillar stock in a transaction dated Tuesday, February 4th. The stock was bought at an average cost of $365.57 per share, for a total transaction of $36,557.00. Following the purchase, 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 position. The purchase was disclosed in a document filed with the SEC, 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 completion of the sale, the insider now directly owns 6,275 shares in the company, valued at approximately $2,225,742.50. This represents a 27.87 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is owned by insiders.

Caterpillar Company 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.