Canopy Partners LLC Buys 2,096 Shares of Caterpillar Inc. (NYSE:CAT)

Canopy Partners LLC lifted its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 84.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,581 shares of the industrial products company's stock after buying an additional 2,096 shares during the period. Canopy Partners LLC's holdings in Caterpillar were worth $1,662,000 at the end of the most recent quarter.

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

Caterpillar Trading Up 1.4 %

Caterpillar 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 2,625,986. The firm has a market capitalization of $140.20 billion, a PE ratio of 13.29, a PEG ratio of 1.87 and a beta of 1.21. The firm's 50 day simple moving average is $333.97 and its 200 day simple moving average is $367.17. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $418.50.

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

Caterpillar Announces Dividend

The firm also recently announced 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. This represents a $5.64 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend is Monday, April 21st. Caterpillar's payout ratio is presently 25.56%.

Insider Activity at Caterpillar

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm's stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the transaction, the chief financial officer now directly owns 45,182 shares of the company's stock, valued at $17,173,226.38. This trade 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 is available at this link. Also, Director Gerald Johnson acquired 100 shares of Caterpillar stock in a transaction on Tuesday, February 4th. The stock was purchased at an average cost of $365.57 per share, with a total value of $36,557.00. Following the completion of the transaction, the director now directly owns 3,053 shares in the company, valued at $1,116,085.21. This represents a 3.39 % increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Bank of America lowered their price target on Caterpillar from $452.00 to $414.00 and set a "buy" rating for the company in a report on Friday, January 31st. Citigroup reduced their price target on shares of Caterpillar from $430.00 to $320.00 and set a "buy" rating on the stock in a research note on Tuesday. DA Davidson increased their price objective on shares of Caterpillar from $350.00 to $357.00 and gave the company a "neutral" rating in a research note on Tuesday, February 4th. Morgan Stanley decreased their target price on shares of Caterpillar from $330.00 to $300.00 and set an "underweight" rating on the stock in a research note on Friday, January 31st. Finally, UBS Group upgraded Caterpillar from a "sell" rating to a "neutral" rating and boosted their price objective for the stock from $355.00 to $385.00 in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $373.20.

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.