SeaCrest Wealth Management LLC Increases Holdings in Caterpillar Inc. (NYSE:CAT)

SeaCrest Wealth Management LLC increased its stake in Caterpillar Inc. (NYSE:CAT) by 0.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,632 shares of the industrial products company’s stock after purchasing an additional 30 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Caterpillar were worth $3,494,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. International Assets Investment Management LLC raised its holdings in Caterpillar by 39,534.0% during the 3rd quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock valued at $8,356,930,000 after acquiring an additional 2,131,276 shares during the period. Altshuler Shaham Ltd boosted its position in shares of Caterpillar by 3,319.7% during the 2nd quarter. Altshuler Shaham Ltd now owns 275,011 shares of the industrial products company’s stock valued at $91,606,000 after acquiring an additional 266,969 shares during the last quarter. Zurich Insurance Group Ltd FI lifted its position in Caterpillar by 4,018.6% during the third quarter. Zurich Insurance Group Ltd FI now owns 255,355 shares of the industrial products company’s stock valued at $99,874,000 after purchasing an additional 249,155 shares during the last quarter. Fisher Asset Management LLC grew its position in Caterpillar by 2.3% in the third quarter. Fisher Asset Management LLC now owns 8,952,632 shares of the industrial products company’s stock worth $3,501,554,000 after acquiring an additional 205,012 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in shares of Caterpillar by 34.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 782,133 shares of the industrial products company’s stock valued at $305,908,000 after purchasing an additional 200,210 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Stock Up 2.3 %

Caterpillar stock opened at $370.79 on Wednesday. The stock has a fifty day moving average of $381.63 and a 200 day moving average of $366.20. Caterpillar Inc. has a one year low of $276.94 and a one year high of $418.50. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40. The stock has a market cap of $179.02 billion, a PE ratio of 17.19, a price-to-earnings-growth ratio of 1.88 and a beta of 1.13.

Caterpillar (NYSE:CAT) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The company had revenue of $16.11 billion during the quarter, compared to the consensus estimate of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. Caterpillar’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the prior year, the business posted $5.52 earnings per share. As a group, sell-side analysts predict that Caterpillar Inc. will post 21.68 EPS for the current year.

Caterpillar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Tuesday, January 21st will be given a $1.41 dividend. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.52%. Caterpillar’s payout ratio is 26.15%.

Analysts Set New Price Targets

CAT has been the subject of a number of research reports. Evercore ISI raised shares of Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 price objective for the company in a research note on Monday. Bank of America boosted their target price on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. upped their target price on Caterpillar from $500.00 to $515.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Robert W. Baird upped their target price on shares of Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research report on Thursday, October 31st. Finally, Truist Financial raised their price objective on Caterpillar from $454.00 to $471.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $381.67.

Insiders Place Their Bets

In other news, CAO William E. Schaupp sold 968 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $380.98, for a total value of $368,788.64. Following the sale, the chief accounting officer now directly owns 1,686 shares in the company, valued at $642,332.28. The trade was a 36.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gerald Johnson acquired 100 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were bought at an average price of $398.57 per share, for a total transaction of $39,857.00. Following the completion of the transaction, the director now owns 2,953 shares of the company’s stock, valued at approximately $1,176,977.21. This trade represents a 3.51 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 23,868 shares of company stock worth $9,679,489 in the last three months. 0.29% of the stock is owned by company 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.