Alpha Cubed Investments LLC raised its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 11.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 139,204 shares of the industrial products company's stock after purchasing an additional 14,063 shares during the quarter. Caterpillar accounts for about 2.0% of Alpha Cubed Investments LLC's portfolio, making the stock its 15th largest position. Alpha Cubed Investments LLC's holdings in Caterpillar were worth $45,909,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Caterpillar during the 4th quarter worth approximately $2,184,364,000. GAMMA Investing LLC boosted its stake in shares of Caterpillar by 43,447.3% during the first quarter. GAMMA Investing LLC now owns 3,730,259 shares of the industrial products company's stock valued at $1,230,239,000 after purchasing an additional 3,721,693 shares during the period. Capital Research Global Investors grew its holdings in shares of Caterpillar by 69.3% in the fourth quarter. Capital Research Global Investors now owns 2,924,054 shares of the industrial products company's stock worth $1,060,730,000 after purchasing an additional 1,196,861 shares during the last quarter. Northern Trust Corp increased its stake in 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 buying an additional 724,477 shares during the period. Finally, APG Asset Management N.V. lifted its holdings in Caterpillar by 1,278.6% during the 4th quarter. APG Asset Management N.V. now owns 440,641 shares of the industrial products company's stock valued at $154,367,000 after buying an additional 408,678 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several equities analysts have recently commented on the company. Evercore ISI cut their price target on Caterpillar from $375.00 to $373.00 and set an "in-line" rating on the stock in a research note on Monday, May 19th. DA Davidson upped their price target on shares of Caterpillar from $325.00 to $331.00 and gave the stock a "neutral" rating in a research report on Monday, May 5th. Morgan Stanley raised shares of Caterpillar from an "underweight" rating to an "equal weight" rating and cut their price objective for the company from $300.00 to $283.00 in a report on Wednesday, April 16th. Truist Financial upped their target price on Caterpillar from $396.00 to $414.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. Finally, Citigroup reissued a "buy" rating and issued a $420.00 price target (up from $370.00) on shares of Caterpillar in a research report on Tuesday, June 24th. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $380.83.
View Our Latest Report on CAT
Caterpillar Trading Up 0.2%
NYSE:CAT opened at $399.33 on Monday. The company has a market capitalization of $188.10 billion, a P/E ratio of 19.46, a PEG ratio of 2.64 and a beta of 1.38. The company has a current ratio of 1.32, a quick ratio of 0.77 and a debt-to-equity ratio of 1.43. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $418.50. The firm has a fifty day simple moving average of $351.96 and a 200-day simple moving average of $346.74.
Caterpillar (NYSE:CAT - Get Free Report) last posted its quarterly earnings results 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 net margin of 15.71% and a return on equity of 53.77%. The firm 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 revenue for the quarter was down 9.8% compared to the same quarter last year. On average, equities research analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current year.
Caterpillar Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st will be paid a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.51%. This is a boost from Caterpillar's previous quarterly dividend of $1.41. The ex-dividend date of this dividend is Monday, July 21st. Caterpillar's payout ratio is presently 27.49%.
Insider Activity at Caterpillar
In other Caterpillar news, Director David Maclennan acquired 375 shares of the business's stock in a transaction dated Wednesday, May 7th. The shares were purchased at an average price of $320.70 per share, for a total transaction of $120,262.50. Following the completion of the purchase, the director directly owned 6,653 shares of the company's stock, valued at $2,133,617.10. The trade was a 5.97% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.33% of the stock is owned by company insiders.
About Caterpillar
(
Free Report)
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.
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