Fayez Sarofim & Co Buys 4,697 Shares of Caterpillar Inc. (NYSE:CAT)

Fayez Sarofim & Co boosted its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 8.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 60,499 shares of the industrial products company's stock after buying an additional 4,697 shares during the quarter. Fayez Sarofim & Co's holdings in Caterpillar were worth $21,947,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Flagship Wealth Advisors LLC bought a new position in shares of Caterpillar in the 4th quarter worth approximately $26,000. Halbert Hargrove Global Advisors LLC bought a new stake in shares of Caterpillar in the 4th quarter worth approximately $27,000. Cyrus J. Lawrence LLC bought a new position in Caterpillar during the 4th quarter valued at approximately $27,000. Noble Wealth Management PBC bought a new stake in Caterpillar in the fourth quarter worth $31,000. Finally, Retirement Wealth Solutions LLC purchased a new position in shares of Caterpillar in the 4th quarter worth about $34,000. Hedge funds and other institutional investors own 70.98% of the company's stock.

Caterpillar Stock Performance

Shares of NYSE CAT traded down $0.53 during trading on Friday, hitting $306.33. The company had a trading volume of 2,162,365 shares, compared to its average volume of 2,624,648. The stock has a 50 day simple moving average of $321.41 and a 200 day simple moving average of $360.65. The firm has a market capitalization of $146.40 billion, a P/E ratio of 13.88, a price-to-earnings-growth ratio of 1.87 and a beta of 1.21. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42. 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 issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share for the quarter, beating the consensus estimate of $4.97 by $0.17. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. As a group, analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 20th. Stockholders of record on Monday, April 21st will be paid a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend is Monday, April 21st. Caterpillar's dividend payout ratio (DPR) is 25.56%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CAT shares. UBS Group raised shares of Caterpillar from a "sell" rating to a "neutral" rating and lifted their target price for the stock from $355.00 to $385.00 in a report on Monday, February 3rd. Evercore ISI increased their price objective on Caterpillar from $365.00 to $375.00 and gave the company an "in-line" rating in a research report on Wednesday, February 19th. Bank of America decreased their target price on Caterpillar from $452.00 to $414.00 and set a "buy" rating for the company in a research report on Friday, January 31st. StockNews.com downgraded shares of Caterpillar from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Finally, Truist Financial lowered their price objective on shares of Caterpillar from $438.00 to $389.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $359.36.

Insider Activity at Caterpillar

In related news, Director Gerald Johnson bought 100 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The stock was purchased at an average price of $365.57 per share, for a total transaction of $36,557.00. Following the completion of the transaction, the director now owns 3,053 shares in the company, valued at $1,116,085.21. The trade was a 3.39 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jason Kaiser sold 2,425 shares of Caterpillar 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 owns 6,275 shares in the company, valued at approximately $2,225,742.50. This represents a 27.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is owned by corporate insiders.

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.