Norden Group LLC Raises Stake in Caterpillar Inc. (NYSE:CAT)

Norden Group LLC raised its stake in Caterpillar Inc. (NYSE:CAT) by 11.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 5,213 shares of the industrial products company’s stock after buying an additional 515 shares during the period. Norden Group LLC’s holdings in Caterpillar were worth $1,891,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Eads & Heald Wealth Management grew its holdings in shares of Caterpillar by 0.7% during the 3rd quarter. Eads & Heald Wealth Management now owns 6,133 shares of the industrial products company’s stock worth $2,399,000 after purchasing an additional 42 shares during the period. Weatherly Asset Management L. P. boosted its holdings in Caterpillar by 9.7% during the 3rd quarter. Weatherly Asset Management L. P. now owns 6,187 shares of the industrial products company’s stock valued at $2,420,000 after acquiring an additional 546 shares during the period. Farther Finance Advisors LLC boosted its holdings in Caterpillar by 24.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 8,044 shares of the industrial products company’s stock valued at $3,146,000 after acquiring an additional 1,581 shares during the period. Phillips Wealth Planners LLC boosted its holdings in Caterpillar by 25.4% during the 3rd quarter. Phillips Wealth Planners LLC now owns 835 shares of the industrial products company’s stock valued at $329,000 after acquiring an additional 169 shares during the period. Finally, BluePath Capital Management LLC boosted its holdings in Caterpillar by 22.2% during the 3rd quarter. BluePath Capital Management LLC now owns 2,464 shares of the industrial products company’s stock valued at $964,000 after acquiring an additional 448 shares during the period. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Trading Up 1.1 %

NYSE:CAT opened at $343.90 on Friday. The stock’s 50 day moving average price is $365.99 and its 200 day moving average price is $372.95. The company has a market capitalization of $164.36 billion, a PE ratio of 15.58, a P/E/G ratio of 1.87 and a beta of 1.12. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. Caterpillar Inc. has a 52-week low of $307.05 and a 52-week high of $418.50.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (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%. On average, research analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Announces Dividend

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

Insider Buying and Selling at Caterpillar

In related news, Director Gerald Johnson bought 100 shares of the stock in a transaction on Wednesday, December 4th. The shares were bought at an average cost of $398.57 per share, for a total transaction of $39,857.00. Following the purchase, the director now owns 2,953 shares of the company’s stock, valued at $1,176,977.21. This trade represents a 3.51 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jason Kaiser sold 2,425 shares of Caterpillar stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total value of $860,147.50. Following the completion of the transaction, the insider now owns 6,275 shares in the company, valued at $2,225,742.50. This trade represents a 27.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CAT. Morgan Stanley lowered their target price on Caterpillar from $330.00 to $300.00 and set an “underweight” rating for the company in a report on Friday, January 31st. Jefferies Financial Group increased their price target on Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Raymond James raised Caterpillar from a “market perform” rating to an “outperform” rating in a research report on Monday, February 3rd. Bank of America cut their target price on Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Finally, Citigroup raised their target price on Caterpillar from $420.00 to $430.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Caterpillar currently has a consensus rating of “Hold” and a consensus target price of $383.80.

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.