Cresset Asset Management LLC Has $42.04 Million Position in Caterpillar Inc. (NYSE:CAT)

Cresset Asset Management LLC decreased its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 30.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 115,877 shares of the industrial products company's stock after selling 51,861 shares during the quarter. Cresset Asset Management LLC's holdings in Caterpillar were worth $42,036,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in CAT. Flagship Wealth Advisors LLC acquired a new stake in Caterpillar in the 4th quarter valued at about $26,000. Halbert Hargrove Global Advisors LLC purchased a new position in Caterpillar in the fourth quarter worth approximately $27,000. Cyrus J. Lawrence LLC acquired a new position in Caterpillar during the 4th quarter worth approximately $27,000. Noble Wealth Management PBC purchased a new position in Caterpillar in the fourth quarter valued at $31,000. Finally, Retirement Wealth Solutions LLC purchased a new position in shares of Caterpillar in the 4th quarter valued at about $34,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Caterpillar news, insider Jason Kaiser sold 2,425 shares of the firm's stock in a transaction dated 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David Maclennan purchased 375 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The stock was bought at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the purchase, the director now owns 6,653 shares in the company, valued at $2,133,617.10. This represents a 5.97 % 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.

Analysts Set New Price Targets

CAT has been the subject of a number of research reports. Morgan Stanley upgraded Caterpillar from an "underweight" rating to an "equal weight" rating and reduced their price objective for the company from $300.00 to $283.00 in a research note on Wednesday, April 16th. UBS Group raised Caterpillar from a "sell" rating to a "neutral" rating and increased their price objective for the stock from $355.00 to $385.00 in a research report on Monday, February 3rd. DA Davidson upped their price target on Caterpillar from $325.00 to $331.00 and gave the stock a "neutral" rating in a research note on Monday. Wedbush upgraded shares of Caterpillar to an "outperform" rating in a research report on Monday, February 3rd. Finally, Robert W. Baird upgraded shares of Caterpillar from an "underperform" rating to a "neutral" rating and upped their price objective for the stock from $300.00 to $309.00 in a research report on Thursday, May 1st. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, Caterpillar presently has a consensus rating of "Moderate Buy" and a consensus target price of $370.67.

Caterpillar Stock Performance

Shares of NYSE CAT traded up $1.22 during midday trading on Friday, reaching $325.47. 1,646,220 shares of the company traded hands, compared to its average volume of 2,621,808. The stock has a 50-day moving average price of $316.76 and a 200 day moving average price of $355.39. The company has a market cap of $155.55 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 1.87 and a beta of 1.35. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week 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 - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share for the quarter, missing the consensus estimate of $4.35 by ($0.10). Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. The company had revenue of $14.25 billion for the quarter, compared to the consensus estimate of $14.64 billion. During the same period in the prior year, the business earned $5.60 earnings per share. The business's revenue was down 9.8% compared to the same quarter last year. Sell-side analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Stockholders of record on Monday, April 21st will be issued a dividend of $1.41 per share. The ex-dividend date of this dividend is Monday, April 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.73%. Caterpillar's dividend payout ratio is 27.49%.

Caterpillar 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.