Renaissance Technologies LLC Has $58.71 Million Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Renaissance Technologies LLC grew its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 203.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 161,841 shares of the industrial products company's stock after acquiring an additional 108,473 shares during the quarter. Renaissance Technologies LLC's holdings in Caterpillar were worth $58,710,000 as of its most recent filing with the Securities and Exchange Commission.

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

Caterpillar Trading Up 1.7 %

Shares of Caterpillar stock traded up $5.10 on Monday, hitting $298.55. 917,030 shares of the company's stock traded hands, compared to its average volume of 2,775,251. The firm's 50-day moving average price is $333.97 and its two-hundred day moving average price is $367.00. 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 stock has a market capitalization of $142.69 billion, a PE ratio of 13.53, a price-to-earnings-growth ratio of 1.87 and a beta of 1.21. Caterpillar Inc. has a one year low of $267.30 and a one year high of $418.50.

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Caterpillar (NYSE:CAT - Get Free Report) last issued its earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. On average, research analysts expect that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Monday, April 21st will be issued a dividend of $1.41 per share. The ex-dividend date is Monday, April 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.89%. Caterpillar's payout ratio is presently 25.56%.

Analyst Ratings Changes

CAT has been the subject of several analyst reports. JPMorgan Chase & Co. cut their target price on Caterpillar from $515.00 to $490.00 and set an "overweight" rating for the company in a research report on Friday, January 31st. Truist Financial lowered their target price on shares of Caterpillar from $438.00 to $389.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Citigroup cut their price target on shares of Caterpillar from $430.00 to $320.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Morgan Stanley dropped their price objective on shares of Caterpillar from $330.00 to $300.00 and set an "underweight" rating for the company in a report on Friday, January 31st. Finally, Wedbush raised Caterpillar to an "outperform" rating in a 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 given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $373.20.

Insider Activity at Caterpillar

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was 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 directly owns 45,182 shares of the company's stock, valued at approximately $17,173,226.38. This represents a 18.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jason Kaiser sold 2,425 shares of the stock in a transaction on 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 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.

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.