Independent Advisor Alliance Acquires 1,193 Shares of Caterpillar Inc. (NYSE:CAT)

Independent Advisor Alliance grew its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 2.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 49,559 shares of the industrial products company's stock after purchasing an additional 1,193 shares during the quarter. Independent Advisor Alliance's holdings in Caterpillar were worth $17,978,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Halbert Hargrove Global Advisors LLC bought a new position in shares of Caterpillar in the 4th quarter valued at about $27,000. Noble Wealth Management PBC bought a new position in Caterpillar during the 4th quarter worth approximately $31,000. Capital Performance Advisors LLP bought a new position in Caterpillar during the 3rd quarter worth approximately $36,000. Retirement Wealth Solutions LLC bought a new position in Caterpillar during the 4th quarter worth approximately $34,000. Finally, Whipplewood Advisors LLC bought a new position in Caterpillar during the 4th quarter worth approximately $36,000. Institutional investors own 70.98% of the company's stock.

Caterpillar Trading Up 2.9 %

CAT stock opened at $350.97 on Monday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. The company has a fifty day moving average price of $363.11 and a two-hundred day moving average price of $372.98. Caterpillar Inc. has a one year low of $307.05 and a one year high of $418.50. The stock has a market cap of $167.74 billion, a price-to-earnings ratio of 15.90, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15.

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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 EPS for the quarter, topping 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%. Equities analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Tuesday, January 21st were given a $1.41 dividend. The ex-dividend date of this dividend was Tuesday, January 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.61%. Caterpillar's payout ratio is presently 25.56%.

Analyst Upgrades and Downgrades

CAT has been the topic of a number of research reports. Truist Financial cut their price target on shares of Caterpillar from $455.00 to $438.00 and set a "buy" rating on the stock in a research note on Monday, February 3rd. JPMorgan Chase & Co. cut their price target on shares of Caterpillar from $515.00 to $490.00 and set an "overweight" rating on the stock in a research note on Friday, January 31st. Bank of America cut their price target on shares of Caterpillar from $452.00 to $414.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Jefferies Financial Group lifted their price target on shares of Caterpillar from $455.00 to $475.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Finally, UBS Group raised shares of Caterpillar from a "sell" rating to a "neutral" rating and lifted their price target for the company from $355.00 to $385.00 in a research note on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $383.80.

Insider Activity

In related news, insider Jason Kaiser sold 2,425 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total transaction of $860,147.50. Following the completion of the sale, the insider now owns 6,275 shares of the company's stock, valued at $2,225,742.50. This represents a 27.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the business's stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $380.09, for a total value 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 approximately $17,173,226.38. The trade was a 18.12 % decrease in their position. The disclosure for this sale 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.

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