Groupama Asset Managment acquired a new position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 34,076 shares of the industrial products company's stock, valued at approximately $10,078,000.
Other institutional investors also recently added to or reduced their stakes in the company. McIlrath & Eck LLC raised its position in shares of Caterpillar by 4.4% during the 4th quarter. McIlrath & Eck LLC now owns 789 shares of the industrial products company's stock worth $233,000 after purchasing an additional 33 shares during the period. Lodestar Private Asset Management LLC boosted its holdings in shares of Caterpillar by 4.4% in the fourth quarter. Lodestar Private Asset Management LLC now owns 830 shares of the industrial products company's stock valued at $245,000 after acquiring an additional 35 shares in the last quarter. Desjardins Global Asset Management Inc. increased its stake in shares of Caterpillar by 1.4% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 2,616 shares of the industrial products company's stock valued at $774,000 after acquiring an additional 35 shares during the period. Cornerstone Wealth Management LLC raised its holdings in Caterpillar by 1.0% during the fourth quarter. Cornerstone Wealth Management LLC now owns 3,507 shares of the industrial products company's stock worth $1,037,000 after purchasing an additional 36 shares in the last quarter. Finally, ACT Wealth Management LLC lifted its position in Caterpillar by 4.3% in the fourth quarter. ACT Wealth Management LLC now owns 877 shares of the industrial products company's stock worth $259,000 after purchasing an additional 36 shares during the period. Hedge funds and other institutional investors own 70.98% of the company's stock.
Caterpillar Stock Down 0.7 %
Shares of CAT traded down $2.37 on Thursday, hitting $326.36. The company's stock had a trading volume of 3,158,201 shares, compared to its average volume of 2,590,905. The company has a quick ratio of 0.83, a current ratio of 1.35 and a debt-to-equity ratio of 1.41. The firm has a market capitalization of $159.61 billion, a price-to-earnings ratio of 14.71, a P/E/G ratio of 1.69 and a beta of 1.14. The firm's fifty day moving average price is $349.84 and its 200-day moving average price is $322.99. Caterpillar Inc. has a fifty-two week low of $223.76 and a fifty-two week high of $382.01.
Caterpillar (NYSE:CAT - Get Free Report) last announced its earnings results on Thursday, April 25th. The industrial products company reported $5.60 earnings per share for the quarter, topping analysts' consensus estimates of $5.12 by $0.48. The firm had revenue of $15.80 billion during the quarter, compared to analyst estimates of $16.07 billion. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. On average, equities research analysts expect that Caterpillar Inc. will post 21.81 EPS for the current year.
Caterpillar Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Monday, July 22nd will be given a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date is Monday, July 22nd. This is a positive change from Caterpillar's previous quarterly dividend of $1.30. Caterpillar's payout ratio is currently 23.48%.
Insider Activity at Caterpillar
In related news, insider Lange Bob De sold 21,847 shares of the business's stock in a transaction on Monday, May 13th. The shares were sold at an average price of $356.90, for a total transaction of $7,797,194.30. Following the transaction, the insider now directly owns 71,115 shares in the company, valued at $25,380,943.50. The sale was disclosed in a filing with the SEC, which is available through this link. In other Caterpillar news, insider Lange Bob De sold 21,847 shares of Caterpillar stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $356.90, for a total value of $7,797,194.30. Following the completion of the sale, the insider now owns 71,115 shares in the company, valued at approximately $25,380,943.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Cheryl H. Johnson sold 1,508 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $340.00, for a total transaction of $512,720.00. Following the transaction, the insider now owns 20,023 shares in the company, valued at approximately $6,807,820. The disclosure for this sale can be found here. 0.33% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on CAT shares. JPMorgan Chase & Co. upped their price objective on Caterpillar from $385.00 to $435.00 and gave the company an "overweight" rating in a report on Tuesday, April 16th. HSBC boosted their target price on shares of Caterpillar from $330.00 to $360.00 and gave the stock a "hold" rating in a report on Tuesday, April 30th. StockNews.com cut shares of Caterpillar from a "strong-buy" rating to a "buy" rating in a report on Tuesday, February 20th. Stifel Nicolaus cut Caterpillar from a "buy" rating to a "hold" rating and upped their price target for the company from $293.00 to $350.00 in a report on Friday, April 26th. Finally, TD Cowen increased their price target on Caterpillar from $338.00 to $340.00 and gave the company a "buy" rating in a research report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Caterpillar presently has a consensus rating of "Hold" and an average price target of $323.35.
Check Out Our Latest Report on CAT
Caterpillar Profile
(Free Report)
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.
Further Reading
- Five stocks we like better than Caterpillar
- EV Stocks and How to Profit from Them
- TSX Venture Exchange (Formerly Canadian Venture Exchange)
- The FOMC Decision Means Higher Prices for Stocks This Summer
- How to Evaluate a Stock Before Buying
- Here's Why Analysts Boosted Walmart Stock's Valuation
→ The attacks will come for me after releasing this… (From Porter & Company) (Ad)
Should you invest $1,000 in Caterpillar right now?
Before you consider Caterpillar, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Caterpillar wasn't on the list.
While Caterpillar currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
7 AI Stocks to Invest In: An Introduction to AI Investing For Self-Directed Investors
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
