1,486 Shares in Caterpillar Inc. (NYSE:CAT) Bought by Audent Global Asset Management LLC

Audent Global Asset Management LLC purchased a new position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,486 shares of the industrial products company's stock, valued at approximately $539,000.

Other institutional investors have also recently bought and sold shares of the company. Pacific Point Advisors LLC bought a new stake in shares of Caterpillar during the fourth quarter worth approximately $579,000. Brighton Jones LLC boosted its holdings in shares of Caterpillar by 51.5% during the fourth quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company's stock worth $2,688,000 after acquiring an additional 2,519 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of Caterpillar by 6.9% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 10,492 shares of the industrial products company's stock worth $3,806,000 after acquiring an additional 680 shares during the period. Narwhal Capital Management boosted its holdings in shares of Caterpillar by 9.9% during the fourth quarter. Narwhal Capital Management now owns 24,809 shares of the industrial products company's stock worth $9,000,000 after acquiring an additional 2,235 shares during the period. Finally, Legacy Financial Group LLC bought a new stake in shares of Caterpillar during the fourth quarter worth approximately $429,000. Institutional investors and hedge funds own 70.98% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Morgan Stanley upgraded Caterpillar from an "underweight" rating to an "equal weight" rating and reduced their price objective for the stock from $300.00 to $283.00 in a report on Wednesday, April 16th. Bank of America cut their price target on Caterpillar from $452.00 to $414.00 and set a "buy" rating for the company in a research note on Friday, January 31st. Truist Financial reiterated a "buy" rating and issued a $396.00 price target (up from $389.00) on shares of Caterpillar in a research note on Thursday, May 1st. Citigroup boosted their price target on Caterpillar from $320.00 to $370.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Finally, JPMorgan Chase & Co. cut their price target on Caterpillar from $490.00 to $380.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $375.33.

Caterpillar Price Performance

NYSE CAT traded down $1.83 on Wednesday, hitting $349.68. 1,921,494 shares of the company's stock were exchanged, compared to its average volume of 2,635,153. The stock has a 50-day moving average of $318.94 and a 200-day moving average of $351.77. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $418.50. The stock has a market cap of $164.71 billion, a price-to-earnings ratio of 15.84, a P/E/G ratio of 1.87 and a beta of 1.35.

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 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 analyst estimates of $14.64 billion. During the same period last year, the business earned $5.60 EPS. The company's revenue was down 9.8% compared to the same quarter last year. Analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Monday, April 21st were issued a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend was Monday, April 21st. Caterpillar's dividend payout ratio (DPR) is 27.49%.

Insider Activity at Caterpillar

In related news, Director David Maclennan bought 375 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was acquired at an average cost of $320.70 per share, with a total value of $120,262.50. Following the transaction, the director now directly owns 6,653 shares in the company, valued at approximately $2,133,617.10. This trade represents a 5.97% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.33% of the stock is currently owned by company insiders.

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.