Baker Avenue Asset Management LP Grows Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Baker Avenue Asset Management LP grew its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 1.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 51,759 shares of the industrial products company's stock after purchasing an additional 824 shares during the quarter. Baker Avenue Asset Management LP's holdings in Caterpillar were worth $18,776,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FSM Wealth Advisors LLC boosted its position in shares of Caterpillar by 3.8% during the 4th quarter. FSM Wealth Advisors LLC now owns 688 shares of the industrial products company's stock worth $262,000 after purchasing an additional 25 shares in the last quarter. Allen Capital Group LLC grew its stake in Caterpillar by 0.6% in the fourth quarter. Allen Capital Group LLC now owns 4,247 shares of the industrial products company's stock valued at $1,541,000 after acquiring an additional 26 shares during the period. Wagner Wealth Management LLC increased its holdings in shares of Caterpillar by 4.0% during the fourth quarter. Wagner Wealth Management LLC now owns 668 shares of the industrial products company's stock valued at $242,000 after acquiring an additional 26 shares in the last quarter. Channel Wealth LLC raised its position in shares of Caterpillar by 1.9% during the fourth quarter. Channel Wealth LLC now owns 1,468 shares of the industrial products company's stock worth $533,000 after purchasing an additional 27 shares during the period. Finally, Total Clarity Wealth Management Inc. grew its position in Caterpillar by 0.6% in the 4th quarter. Total Clarity Wealth Management Inc. now owns 4,373 shares of the industrial products company's stock valued at $1,586,000 after purchasing an additional 27 shares during the period. 70.98% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CAT has been the topic of several research reports. StockNews.com downgraded shares of Caterpillar from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Oppenheimer raised shares of Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 price target on the stock in a research report on Thursday, May 1st. Citigroup increased their price objective on Caterpillar from $320.00 to $370.00 and gave the stock a "buy" rating in a research note on Monday. Morgan Stanley raised Caterpillar from an "underweight" rating to an "equal weight" rating and cut their target price for the company from $300.00 to $283.00 in a research report on Wednesday, April 16th. Finally, Truist Financial reiterated a "buy" rating and issued a $396.00 price objective (up previously from $389.00) on shares of Caterpillar in a research note on Thursday, May 1st. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $370.67.

Insider Activity

In other Caterpillar news, insider Jason Kaiser sold 2,425 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were 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 in the company, valued at approximately $2,225,742.50. The trade was a 27.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.29% of the company's stock.

Caterpillar Stock Down 0.5 %

Shares of CAT stock traded down $1.76 during mid-day trading on Tuesday, reaching $321.35. 1,722,052 shares of the company's stock traded hands, compared to its average volume of 2,628,526. The company's 50-day moving average price is $317.40 and its 200-day moving average price is $356.53. The company has a market cap of $153.58 billion, a P/E ratio of 14.56, a P/E/G ratio of 1.87 and a beta of 1.35. 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 12 month low of $267.30 and a 12 month high of $418.50.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.35 by ($0.10). Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. The company had revenue of $14.25 billion for the quarter, compared to analysts' expectations of $14.64 billion. During the same quarter in the previous year, the firm posted $5.60 EPS. The firm's quarterly revenue was down 9.8% compared to the same quarter last year. On average, equities analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Monday, April 21st will be given a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date is Monday, April 21st. Caterpillar's dividend payout ratio (DPR) is 27.49%.

Caterpillar Company Profile

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.