RDA Financial Network Grows Holdings in Caterpillar Inc. (NYSE:CAT)

RDA Financial Network raised its position in shares of Caterpillar Inc. (NYSE:CAT) by 5.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,947 shares of the industrial products company’s stock after purchasing an additional 158 shares during the quarter. RDA Financial Network’s holdings in Caterpillar were worth $1,069,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CAT. Geode Capital Management LLC raised its position in shares of Caterpillar by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 10,213,455 shares of the industrial products company’s stock valued at $3,987,206,000 after purchasing an additional 67,148 shares during the period. Fisher Asset Management LLC increased its stake in Caterpillar by 2.3% in the 3rd quarter. Fisher Asset Management LLC now owns 8,952,632 shares of the industrial products company’s stock worth $3,501,554,000 after buying an additional 205,012 shares in the last quarter. Legal & General Group Plc raised its holdings in Caterpillar by 2.0% during the second quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company’s stock valued at $1,286,582,000 after acquiring an additional 75,973 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Caterpillar by 1.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,627,513 shares of the industrial products company’s stock valued at $1,418,793,000 after acquiring an additional 64,452 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Caterpillar by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,227,378 shares of the industrial products company’s stock worth $1,262,290,000 after acquiring an additional 8,088 shares during the period. 70.98% of the stock is currently owned by institutional investors.

Insider Activity at Caterpillar

In other news, CAO William E. Schaupp sold 968 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $380.98, for a total transaction of $368,788.64. Following the transaction, the chief accounting officer now owns 1,686 shares of the company’s stock, valued at approximately $642,332.28. This represents a 36.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Cheryl H. Johnson sold 2,664 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $378.84, for a total value of $1,009,229.76. Following the completion of the transaction, the insider now directly owns 12,951 shares in the company, valued at $4,906,356.84. This trade represents a 17.06 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,868 shares of company stock worth $9,679,489. Insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on CAT. Evercore ISI raised Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 target price on the stock in a research note on Monday. Robert W. Baird boosted their target price on shares of Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a report on Thursday, October 31st. Morgan Stanley lowered shares of Caterpillar from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $349.00 to $332.00 in a research report on Monday, October 14th. Truist Financial reduced their price target on shares of Caterpillar from $471.00 to $455.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Jefferies Financial Group increased their price objective on shares of Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a report on Friday, December 6th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Caterpillar has an average rating of “Hold” and a consensus price target of $380.60.

Caterpillar Trading Up 1.6 %

Shares of CAT stock opened at $380.85 on Friday. The company has a market cap of $183.87 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 1.72 and a beta of 1.13. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86. The stock’s 50 day simple moving average is $380.24 and its two-hundred day simple moving average is $366.36. Caterpillar Inc. has a 1 year low of $276.94 and a 1 year high of $418.50.

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

Caterpillar Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Tuesday, January 21st will be paid a dividend of $1.41 per share. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.48%. Caterpillar’s dividend payout ratio is presently 26.15%.

Caterpillar 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.