Assetmark Inc. Has $6.82 Million Stake in Caterpillar Inc. (NYSE:CAT)

Assetmark Inc. lifted its stake in Caterpillar Inc. (NYSE:CAT) by 12.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,802 shares of the industrial products company’s stock after purchasing an additional 2,029 shares during the period. Assetmark Inc.’s holdings in Caterpillar were worth $6,821,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Proficio Capital Partners LLC increased its stake in shares of Caterpillar by 50,072.7% in the 4th quarter. Proficio Capital Partners LLC now owns 804,770 shares of the industrial products company’s stock valued at $291,938,000 after buying an additional 803,166 shares during the period. Zurich Insurance Group Ltd FI lifted its position in Caterpillar by 4,018.6% during the 3rd quarter. Zurich Insurance Group Ltd FI now owns 255,355 shares of the industrial products company’s stock valued at $99,874,000 after purchasing an additional 249,155 shares during the period. Strategic Financial Concepts LLC boosted its stake in shares of Caterpillar by 36,168.5% in the 4th quarter. Strategic Financial Concepts LLC now owns 227,041 shares of the industrial products company’s stock valued at $82,361,000 after purchasing an additional 226,415 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of Caterpillar by 2.3% during the third 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 during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in Caterpillar by 34.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 782,133 shares of the industrial products company’s stock valued at $305,908,000 after buying an additional 200,210 shares during the period. Institutional investors own 70.98% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on CAT. StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Raymond James raised Caterpillar from a “market perform” rating to an “outperform” rating in a research note on Monday, February 3rd. Citigroup boosted 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. Truist Financial cut their price target on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $383.80.

Insider Buying and Selling at Caterpillar

In other news, Director Gerald Johnson bought 100 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was acquired at an average cost of $365.57 per share, with a total value of $36,557.00. Following the completion of the purchase, the director now owns 3,053 shares of the company’s stock, valued at $1,116,085.21. This represents a 3.39 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now owns 45,182 shares in the company, valued at approximately $17,173,226.38. The trade was a 18.12 % 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.

Caterpillar Stock Performance

CAT opened at $350.97 on Friday. The company has a market capitalization of $167.74 billion, a price-to-earnings ratio of 15.90, a P/E/G ratio of 1.87 and a beta of 1.15. The business’s 50-day moving average price is $363.11 and its two-hundred day moving average price is $372.57. Caterpillar Inc. has a 1 year low of $307.05 and a 1 year high of $418.50. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89.

Caterpillar (NYSE:CAT) last released 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%. Equities analysts expect that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Tuesday, January 21st were issued a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend was Tuesday, January 21st. Caterpillar’s payout ratio is 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.