Sagespring Wealth Partners LLC Purchases Shares of 19,539 Caterpillar Inc. (NYSE:CAT)

Sagespring Wealth Partners LLC acquired a new stake in Caterpillar Inc. (NYSE:CAT - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,539 shares of the industrial products company's stock, valued at approximately $7,088,000.

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

Insider Activity at Caterpillar

In other Caterpillar 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 directly owns 6,275 shares in the company, valued at $2,225,742.50. This represents a 27.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar 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 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 owned by company insiders.

Remove Ads

Analysts Set New Price Targets

Several research analysts have commented on CAT shares. Wedbush upgraded shares of Caterpillar to an "outperform" rating in a report on Monday, February 3rd. JPMorgan Chase & Co. decreased their price objective on shares of Caterpillar from $490.00 to $380.00 and set an "overweight" rating for the company in a research note on Monday. DA Davidson boosted their target price on shares of Caterpillar from $350.00 to $357.00 and gave the company a "neutral" rating in a research note on Tuesday, February 4th. Morgan Stanley decreased their target price on Caterpillar from $330.00 to $300.00 and set an "underweight" rating for the company in a research report on Friday, January 31st. Finally, Truist Financial dropped their price target on Caterpillar from $438.00 to $389.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $365.87.

Caterpillar Stock Down 1.6 %

CAT traded down $4.75 during midday trading on Tuesday, hitting $293.37. 3,610,257 shares of the company's stock traded hands, compared to its average volume of 2,634,450. 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 market cap of $140.21 billion, a PE ratio of 13.29, 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. The stock's fifty day simple moving average is $332.75 and its 200-day simple moving average is $366.35.

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 (EPS) 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 anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Stockholders of record on Monday, April 21st will be paid a dividend of $1.41 per share. The ex-dividend date is Monday, April 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.92%. Caterpillar's dividend payout ratio (DPR) is presently 25.56%.

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.