OFI Invest Asset Management Purchases Shares of 116,574 Caterpillar Inc. (NYSE:CAT)

OFI Invest Asset Management acquired a new stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 116,574 shares of the industrial products company's stock, valued at approximately $40,839,000. Caterpillar makes up about 1.0% of OFI Invest Asset Management's investment portfolio, making the stock its 26th biggest position.

Other hedge funds have also recently bought and sold shares of the company. Halbert Hargrove Global Advisors LLC acquired a new stake in Caterpillar during the 4th quarter valued at approximately $27,000. Noble Wealth Management PBC bought a new position in Caterpillar during the 4th quarter worth approximately $31,000. Retirement Wealth Solutions LLC bought a new position in Caterpillar during the 4th quarter worth approximately $34,000. Capital Performance Advisors LLP bought a new position in Caterpillar during the 3rd quarter worth approximately $36,000. Finally, Albion Financial Group UT lifted its holdings in Caterpillar by 334.8% during the 4th quarter. Albion Financial Group UT now owns 100 shares of the industrial products company's stock worth $36,000 after buying an additional 77 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

Insider Transactions at Caterpillar

In other Caterpillar news, Director Gerald Johnson purchased 100 shares of the company's stock in a transaction dated Tuesday, February 4th. The shares were bought at an average price 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 $1,116,085.21. This trade represents a 3.39 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm's stock in a transaction on 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 completion of the transaction, the chief financial officer now owns 45,182 shares in the company, valued at $17,173,226.38. The trade was a 18.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by company insiders.

Remove Ads

Caterpillar Stock Up 2.9 %

Caterpillar stock traded up $9.96 during trading hours on Friday, hitting $350.97. The company had a trading volume of 3,061,142 shares, compared to its average volume of 2,503,377. The firm has a market capitalization of $167.74 billion, a P/E ratio of 15.90, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15. 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 firm's fifty day moving average is $363.11 and its 200-day moving average is $372.98. Caterpillar Inc. has a fifty-two week low of $307.05 and a fifty-two week high of $418.50.

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%. On average, research analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts have commented on CAT shares. Citigroup increased their target price on Caterpillar from $420.00 to $430.00 and gave the stock a "buy" rating in a report on Friday, January 31st. JPMorgan Chase & Co. reduced their price target on shares of Caterpillar from $515.00 to $490.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. Wedbush raised shares of Caterpillar to an "outperform" rating in a research note on Monday, February 3rd. Evercore ISI upped their price target on shares of Caterpillar from $365.00 to $375.00 and gave the stock an "in-line" rating in a research note on Wednesday, February 19th. Finally, DA Davidson upped 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. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price 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.