Essex Financial Services Inc. Buys 1,023 Shares of Caterpillar Inc. (NYSE:CAT)

Essex Financial Services Inc. grew its position in Caterpillar Inc. (NYSE:CAT) by 8.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,212 shares of the industrial products company’s stock after purchasing an additional 1,023 shares during the period. Essex Financial Services Inc.’s holdings in Caterpillar were worth $4,793,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in CAT. Retirement Wealth Solutions LLC bought a new stake in Caterpillar during the fourth quarter worth about $34,000. Capital Performance Advisors LLP bought a new stake in Caterpillar during the 3rd quarter worth approximately $36,000. Albion Financial Group UT increased its holdings in Caterpillar by 334.8% during the 4th quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 77 shares in the last quarter. Kimelman & Baird LLC boosted its stake in Caterpillar by 42.9% in the third quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 30 shares in the last quarter. Finally, Trivant Custom Portfolio Group LLC grew its holdings in shares of Caterpillar by 130.0% during the fourth quarter. Trivant Custom Portfolio Group LLC now owns 115 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 65 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Performance

Shares of CAT stock opened at $363.11 on Tuesday. The company has a market capitalization of $175.31 billion, a price-to-earnings ratio of 16.45, a PEG ratio of 1.94 and a beta of 1.12. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42. Caterpillar Inc. has a 52 week low of $307.05 and a 52 week high of $418.50. The company has a 50-day simple moving average of $376.59 and a 200 day simple moving average of $371.73.

Caterpillar (NYSE:CAT) last posted its earnings results on Thursday, January 30th. The industrial products company reported $5.14 EPS for the quarter, beating the consensus estimate of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. On average, sell-side analysts predict that Caterpillar Inc. will post 20.05 earnings per share for the current year.

Caterpillar Announces Dividend

The firm also recently announced 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 is Tuesday, January 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.55%. Caterpillar’s payout ratio is presently 25.56%.

Insider Buying and Selling

In other Caterpillar news, Director Gerald Johnson bought 100 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were purchased at an average price of $365.57 per share, for a total transaction of $36,557.00. Following the transaction, the director now directly owns 3,053 shares in the company, valued at approximately $1,116,085.21. This trade represents a 3.39 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Anthony D. Fassino sold 6,279 shares of Caterpillar stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $408.59, for a total transaction of $2,565,536.61. Following the completion of the sale, the insider now owns 33,565 shares of the company’s stock, valued at approximately $13,714,323.35. The trade was a 15.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CAT has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced their price target on shares of Caterpillar from $515.00 to $490.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. UBS Group upgraded shares of Caterpillar from a “sell” rating to a “neutral” rating and upped their target price for the stock from $355.00 to $385.00 in a research report on Monday, February 3rd. Bank of America lowered their price target on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a report on Friday, January 31st. StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a report on Friday, January 17th. Finally, Robert W. Baird lifted their target price on Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $383.13.

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.