152,442 Shares in Caterpillar Inc. (NYSE:CAT) Acquired by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. bought a new stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 152,442 shares of the industrial products company's stock, valued at approximately $55,353,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FSM Wealth Advisors LLC raised its position in Caterpillar by 3.8% in the 4th quarter. FSM Wealth Advisors LLC now owns 688 shares of the industrial products company's stock valued at $262,000 after purchasing an additional 25 shares in the last quarter. Allen Capital Group LLC raised its holdings in Caterpillar by 0.6% in the fourth quarter. Allen Capital Group LLC now owns 4,247 shares of the industrial products company's stock valued at $1,541,000 after acquiring an additional 26 shares in the last quarter. Wagner Wealth Management LLC lifted its stake in Caterpillar by 4.0% in the fourth quarter. Wagner Wealth Management LLC now owns 668 shares of the industrial products company's stock worth $242,000 after acquiring an additional 26 shares during the last quarter. Channel Wealth LLC grew its holdings in Caterpillar by 1.9% during the 4th quarter. Channel Wealth LLC now owns 1,468 shares of the industrial products company's stock worth $533,000 after acquiring an additional 27 shares in the last quarter. Finally, Total Clarity Wealth Management Inc. raised its holdings in shares of Caterpillar by 0.6% in the 4th quarter. Total Clarity Wealth Management Inc. now owns 4,373 shares of the industrial products company's stock valued at $1,586,000 after purchasing an additional 27 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company's stock.

Insider Activity at Caterpillar

In related news, insider Jason Kaiser sold 2,425 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total value of $860,147.50. Following the completion of the transaction, the insider now directly owns 6,275 shares in the company, valued at approximately $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 can be accessed through the SEC website. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $380.09, for a total value of $3,800,900.00. Following the completion of the sale, the chief financial officer now owns 45,182 shares of the company's stock, valued at $17,173,226.38. This trade represents 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 corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CAT. StockNews.com lowered Caterpillar from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Truist Financial reduced their target price on Caterpillar from $438.00 to $389.00 and set a "buy" rating for the company in a report on Tuesday. Bank of America reduced their price objective on Caterpillar from $452.00 to $414.00 and set a "buy" rating for the company in a research note on Friday, January 31st. Wedbush raised shares of Caterpillar to an "outperform" rating in a report on Monday, February 3rd. Finally, DA Davidson upped their target price on shares of Caterpillar from $350.00 to $357.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $373.20.

Caterpillar Price Performance

CAT stock traded down $15.68 during midday trading on Thursday, hitting $285.33. 1,610,529 shares of the stock were exchanged, compared to its average volume of 2,611,923. 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 stock has a market cap of $136.37 billion, a price-to-earnings ratio of 12.86, a PEG ratio of 1.87 and a beta of 1.21. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $418.50. The stock's 50-day moving average price is $336.81 and its 200-day moving average price is $368.44.

Caterpillar (NYSE:CAT - Get Free Report) last posted its 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%. Research analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Monday, April 21st will be given a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a yield of 1.98%. Caterpillar's dividend payout ratio is presently 25.56%.

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.