Stonegate Investment Group LLC Increases Holdings in Caterpillar Inc. (NYSE:CAT)

Stonegate Investment Group LLC boosted its stake in shares of Caterpillar Inc. (NYSE:CAT) by 22.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,063 shares of the industrial products company’s stock after buying an additional 1,491 shares during the quarter. Stonegate Investment Group LLC’s holdings in Caterpillar were worth $2,925,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CAT. Smallwood Wealth Investment Management LLC grew its position in shares of Caterpillar by 2.6% during the 3rd quarter. Smallwood Wealth Investment Management LLC now owns 1,037 shares of the industrial products company’s stock valued at $405,000 after acquiring an additional 26 shares during the period. First Bank & Trust grew its holdings in Caterpillar by 4.0% during the third quarter. First Bank & Trust now owns 709 shares of the industrial products company’s stock valued at $277,000 after purchasing an additional 27 shares during the period. Washington Trust Bank raised its stake in shares of Caterpillar by 1.2% in the third quarter. Washington Trust Bank now owns 2,349 shares of the industrial products company’s stock valued at $919,000 after buying an additional 27 shares during the period. Channel Wealth LLC lifted its position in shares of Caterpillar by 1.9% during the 4th quarter. Channel Wealth LLC now owns 1,468 shares of the industrial products company’s stock valued at $533,000 after buying an additional 27 shares during the last quarter. Finally, Pacifica Partners Inc. grew its stake in shares of Caterpillar by 1.6% during the 3rd quarter. Pacifica Partners Inc. now owns 1,807 shares of the industrial products company’s stock worth $707,000 after acquiring an additional 28 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Down 3.2 %

Shares of CAT opened at $394.60 on Tuesday. Caterpillar Inc. has a 1 year low of $297.45 and a 1 year high of $418.50. 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 has a 50 day simple moving average of $381.07 and a two-hundred day simple moving average of $369.79. The firm has a market cap of $190.51 billion, a P/E ratio of 18.29, a P/E/G ratio of 1.97 and a beta of 1.13.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.33 by ($0.16). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The business had revenue of $16.11 billion for the quarter, compared to analysts’ expectations of $16.37 billion. During the same quarter in the previous year, the company earned $5.52 earnings per share. The business’s quarterly revenue was down 4.2% on a year-over-year basis. On average, analysts forecast that Caterpillar Inc. will post 21.69 earnings per share for the current fiscal 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 issued a dividend of $1.41 per share. The ex-dividend date is Tuesday, January 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.43%. Caterpillar’s dividend payout ratio is currently 26.15%.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Cheryl H. Johnson sold 2,664 shares of the firm’s stock in a transaction dated 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 sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 value of $368,788.64. Following the transaction, the chief accounting officer now owns 1,686 shares in the company, valued at $642,332.28. This trade represents a 36.47 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,868 shares of company stock worth $13,480,389. 0.29% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have commented on CAT. Jefferies Financial Group upped 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. Truist Financial reduced their price objective on shares of Caterpillar from $471.00 to $455.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. JPMorgan Chase & Co. lifted their price target on Caterpillar from $500.00 to $515.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Robert W. Baird raised their target price on Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research note on Thursday, October 31st. Finally, Evercore ISI upgraded Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 price target on the stock in a research report on Monday, January 13th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $380.60.

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.