Jericho Financial LLP Makes New $4.50 Million Investment in Caterpillar Inc. (NYSE:CAT)

Jericho Financial LLP purchased a new position in shares of Caterpillar Inc. (NYSE:CAT) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 12,399 shares of the industrial products company’s stock, valued at approximately $4,498,000. Caterpillar makes up about 3.3% of Jericho Financial LLP’s holdings, making the stock its 13th largest position.

Other institutional investors and hedge funds have also modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in Caterpillar during the 3rd quarter worth $36,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Caterpillar during the fourth quarter valued at about $34,000. Kimelman & Baird LLC grew its holdings in shares of Caterpillar by 42.9% during 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 during the last quarter. Albion Financial Group UT increased its stake in shares of Caterpillar by 334.8% in the fourth quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock valued at $36,000 after buying an additional 77 shares during the period. Finally, Trivant Custom Portfolio Group LLC raised its holdings in Caterpillar by 130.0% in the 4th quarter. Trivant Custom Portfolio Group LLC now owns 115 shares of the industrial products company’s stock valued at $42,000 after buying an additional 65 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Lange Bob De sold 12,657 shares of Caterpillar stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the sale, the insider now directly owns 71,107 shares in the company, valued at $29,171,646.75. The trade was a 15.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction dated Thursday, January 16th. The shares were 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 of the company’s stock, valued at approximately $17,173,226.38. The trade was a 18.12 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,936 shares of company stock worth $11,558,971. 0.29% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CAT has been the subject of several recent research reports. StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Morgan Stanley lowered their target price on Caterpillar from $330.00 to $300.00 and set an “underweight” rating for the company in a research report on Friday, January 31st. Bank of America reduced their price target on Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Robert W. Baird raised their price objective on Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research report on Thursday, October 31st. Finally, Citigroup increased their target price on shares of Caterpillar from $420.00 to $430.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $379.50.

Caterpillar Stock Performance

CAT opened at $362.21 on Wednesday. Caterpillar Inc. has a 1-year low of $307.05 and a 1-year high of $418.50. The company has a market cap of $174.88 billion, a price-to-earnings ratio of 16.41, a PEG ratio of 1.95 and a beta of 1.12. The company’s fifty day moving average price is $380.00 and its two-hundred day moving average price is $371.21. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40.

Caterpillar (NYSE:CAT) last posted its earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share for the quarter, topping analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. On average, analysts expect that Caterpillar Inc. will post 21.45 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Tuesday, January 21st will be given a dividend of $1.41 per share. The ex-dividend date is Tuesday, January 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.56%. 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.