Caterpillar Inc. (NYSE:CAT) Shares Acquired by NewEdge Wealth LLC

NewEdge Wealth LLC raised its stake in shares of Caterpillar Inc. (NYSE:CAT) by 25.6% in the 4th quarter, Holdings Channel reports. The fund owned 6,412 shares of the industrial products company’s stock after acquiring an additional 1,305 shares during the quarter. NewEdge Wealth LLC’s holdings in Caterpillar were worth $2,326,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Reston Wealth Management LLC acquired a new position in Caterpillar during the third quarter worth $123,000. ForthRight Wealth Management LLC acquired a new position in shares of Caterpillar during the 3rd quarter worth approximately $228,000. Pacific Wealth Strategies Group Inc. raised its stake in Caterpillar by 2.2% in the 3rd quarter. Pacific Wealth Strategies Group Inc. now owns 5,832 shares of the industrial products company’s stock valued at $2,281,000 after purchasing an additional 123 shares during the last quarter. Stephens Inc. AR lifted its holdings in Caterpillar by 1.6% in the 3rd quarter. Stephens Inc. AR now owns 91,532 shares of the industrial products company’s stock valued at $35,800,000 after purchasing an additional 1,459 shares in the last quarter. Finally, Penobscot Wealth Management acquired a new stake in shares of Caterpillar during the 3rd quarter worth about $205,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on CAT shares. Jefferies Financial Group raised their target price on shares of Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Bank of America lowered their price objective on Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Truist Financial reduced their target price on Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. DA Davidson upped their price objective on shares of Caterpillar from $350.00 to $357.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Finally, Morgan Stanley dropped their price target on shares of Caterpillar from $330.00 to $300.00 and set an “underweight” rating for the company in a research report on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Caterpillar currently has a consensus rating of “Hold” and an average target price of $383.80.

Insider Buying and Selling

In other news, insider Jason Kaiser sold 2,425 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total transaction of $860,147.50. Following the completion of the sale, the insider now directly owns 6,275 shares of the company’s stock, valued at $2,225,742.50. This represents a 27.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the completion of the transaction, the chief financial officer now directly owns 45,182 shares of the company’s stock, valued at $17,173,226.38. This represents a 18.12 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

Caterpillar Trading Up 1.1 %

NYSE CAT opened at $343.90 on Friday. The company’s fifty day simple moving average is $365.99 and its 200-day simple moving average is $372.71. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40. The stock has a market cap of $164.36 billion, a P/E ratio of 15.58, a PEG ratio of 1.87 and a beta of 1.12. Caterpillar Inc. has a 52 week low of $307.05 and a 52 week high of $418.50.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 EPS for the quarter, topping analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. Equities research analysts predict that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Tuesday, January 21st were issued a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a dividend yield of 1.64%. The ex-dividend date was Tuesday, January 21st. Caterpillar’s dividend payout ratio (DPR) is presently 25.56%.

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.