Kentucky Retirement Systems Insurance Trust Fund Raises Position in Caterpillar Inc. (NYSE:CAT)

Kentucky Retirement Systems Insurance Trust Fund raised its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 57.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,535 shares of the industrial products company's stock after buying an additional 8,178 shares during the period. Caterpillar comprises approximately 0.7% of Kentucky Retirement Systems Insurance Trust Fund's portfolio, making the stock its 27th largest position. Kentucky Retirement Systems Insurance Trust Fund's holdings in Caterpillar were worth $8,175,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors boosted its position in Caterpillar by 3.2% during the fourth quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 3,836 shares of the industrial products company's stock valued at $1,392,000 after buying an additional 118 shares during the period. Kestra Investment Management LLC boosted its holdings in shares of Caterpillar by 31.6% during the fourth quarter. Kestra Investment Management LLC now owns 1,323 shares of the industrial products company's stock worth $480,000 after purchasing an additional 318 shares during the period. Braun Stacey Associates Inc. raised its stake in Caterpillar by 2.8% in the fourth quarter. Braun Stacey Associates Inc. now owns 34,837 shares of the industrial products company's stock worth $12,637,000 after buying an additional 963 shares in the last quarter. Venturi Wealth Management LLC raised its stake in Caterpillar by 15.9% in the fourth quarter. Venturi Wealth Management LLC now owns 4,517 shares of the industrial products company's stock worth $1,639,000 after buying an additional 620 shares in the last quarter. Finally, Empower Advisory Group LLC raised its stake in Caterpillar by 0.7% in the fourth quarter. Empower Advisory Group LLC now owns 255,388 shares of the industrial products company's stock worth $92,645,000 after buying an additional 1,768 shares in the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Anthony D. Fassino sold 6,279 shares of the firm's stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $408.59, for a total value of $2,565,536.61. Following the sale, the insider now owns 33,565 shares in the company, valued at approximately $13,714,323.35. This trade represents a 15.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gerald Johnson bought 100 shares of the company's stock in a transaction that occurred on Wednesday, December 4th. The stock was bought at an average price of $398.57 per share, for a total transaction of $39,857.00. Following the acquisition, the director now directly owns 2,953 shares of the company's stock, valued at $1,176,977.21. The trade was a 3.51 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 18,704 shares of company stock worth $7,226,584. 0.29% of the stock is owned by insiders.

Caterpillar Stock Down 2.7 %

Shares of CAT traded down $9.31 on Friday, hitting $339.84. 3,219,133 shares of the stock traded hands, compared to its average volume of 2,416,826. The company has a market capitalization of $162.42 billion, a PE ratio of 15.40, a P/E/G ratio of 1.89 and a beta of 1.12. 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 has a 50 day simple moving average of $369.54 and a 200 day simple moving average of $372.24. Caterpillar Inc. has a one year low of $307.05 and a one year 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 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, equities analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Tuesday, January 21st were given a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a dividend yield of 1.66%. The ex-dividend date was Tuesday, January 21st. Caterpillar's dividend payout ratio (DPR) is currently 25.56%.

Wall Street Analyst Weigh In

CAT has been the subject of a number of research reports. Jefferies Financial Group increased their price target on shares of Caterpillar from $455.00 to $475.00 and gave the stock a "buy" rating in a research note on Friday, December 6th. StockNews.com raised shares of Caterpillar from a "hold" rating to a "buy" rating in a research note on Tuesday, February 11th. Truist Financial decreased their price target on shares of Caterpillar from $455.00 to $438.00 and set a "buy" rating for the company in a research note on Monday, February 3rd. DA Davidson increased their price target on shares of Caterpillar from $350.00 to $357.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 4th. Finally, Bank of America decreased their target price on shares of Caterpillar from $452.00 to $414.00 and set a "buy" rating for the company in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Caterpillar currently has a consensus rating of "Hold" and an average price target of $383.80.

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.