Caterpillar Inc. (NYSE:CAT) Holdings Lifted by Bridgewealth Advisory Group LLC

Bridgewealth Advisory Group LLC raised its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 94.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,896 shares of the industrial products company's stock after purchasing an additional 920 shares during the quarter. Bridgewealth Advisory Group LLC's holdings in Caterpillar were worth $671,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Caterpillar by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 46,809,540 shares of the industrial products company's stock valued at $16,980,629,000 after acquiring an additional 284,366 shares during the last quarter. Geode Capital Management LLC raised its stake in Caterpillar by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 10,449,770 shares of the industrial products company's stock valued at $3,790,841,000 after buying an additional 236,315 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in Caterpillar by 1.4% during the 4th quarter. Fisher Asset Management LLC now owns 9,081,775 shares of the industrial products company's stock worth $3,294,505,000 after buying an additional 129,143 shares during the last quarter. Northern Trust Corp grew its position in shares of Caterpillar by 11.8% in the 4th quarter. Northern Trust Corp now owns 6,847,330 shares of the industrial products company's stock worth $2,483,937,000 after acquiring an additional 724,477 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Caterpillar in the 4th quarter valued at approximately $2,184,364,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Price Performance

Shares of NYSE:CAT traded up $9.78 during trading on Friday, reaching $323.74. The company had a trading volume of 3,764,228 shares, compared to its average volume of 2,628,406. The firm's fifty day moving average is $318.18 and its 200 day moving average is $357.78. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42. The firm has a market capitalization of $154.73 billion, a PE ratio of 14.67, a price-to-earnings-growth ratio of 1.87 and a beta of 1.21. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $418.50.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $14.25 billion for the quarter, compared to the consensus estimate of $14.64 billion. During the same period in the previous year, the business posted $5.60 earnings per share. The business's revenue for the quarter was down 9.8% compared to the same quarter last year. On average, equities analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Monday, April 21st will be issued a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date is Monday, April 21st. Caterpillar's payout ratio is 25.56%.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Raymond James upgraded shares of Caterpillar from a "market perform" rating to an "outperform" rating in a research note on Monday, February 3rd. Oppenheimer raised shares of Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 price objective for the company in a research report on Thursday. Morgan Stanley upgraded Caterpillar from an "underweight" rating to an "equal weight" rating and decreased their target price for the company from $300.00 to $283.00 in a research note on Wednesday, April 16th. Truist Financial reiterated a "buy" rating and set a $396.00 price target (up from $389.00) on shares of Caterpillar in a research report on Thursday. Finally, DA Davidson lowered their price objective on Caterpillar from $357.00 to $325.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $366.00.

Insider Activity

In related news, insider Jason Kaiser sold 2,425 shares of Caterpillar stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total value of $860,147.50. Following the transaction, the insider now directly owns 6,275 shares in the company, valued at $2,225,742.50. The trade was a 27.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gerald Johnson bought 100 shares of the business's stock in a transaction dated Tuesday, February 4th. The shares were bought at an average cost of $365.57 per share, for a total transaction of $36,557.00. Following the completion of the transaction, the director now directly owns 3,053 shares of the company's stock, valued at $1,116,085.21. This trade represents a 3.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.29% of the company's stock.

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.