Cary Street Partners Financial LLC Has $11.52 Million Stock Position in Caterpillar Inc. $CAT

Key Points

• Cary Street Partners Financial LLC increased its Caterpillar stake by 13.4% in the fourth quarter, ending with 20,117 shares worth about $11.52 million.
• Caterpillar reported strong quarterly results, with EPS of $5.54 beating estimates and revenue of $17.42 billion topping expectations, while revenue rose 22.2% year over year.
• The company paid a $1.51 quarterly dividend and analysts remain constructive on the stock, with a consensus rating of Moderate Buy and an average price target of $923.14.

Cary Street Partners Financial LLC lifted its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 13.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,117 shares of the industrial products company's stock after acquiring an additional 2,379 shares during the quarter. Cary Street Partners Financial LLC's holdings in Caterpillar were worth $11,524,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Plancorp LLC increased its position in shares of Caterpillar by 0.5% in the fourth quarter. Plancorp LLC now owns 2,777 shares of the industrial products company's stock valued at $1,591,000 after acquiring an additional 15 shares during the last quarter. BlueStem Wealth Partners LLC increased its position in shares of Caterpillar by 1.3% in the fourth quarter. BlueStem Wealth Partners LLC now owns 1,192 shares of the industrial products company's stock valued at $683,000 after acquiring an additional 15 shares during the last quarter. KDT Advisors LLC increased its position in shares of Caterpillar by 2.3% in the fourth quarter. KDT Advisors LLC now owns 657 shares of the industrial products company's stock valued at $376,000 after acquiring an additional 15 shares during the last quarter. CFO4Life Group LLC increased its position in shares of Caterpillar by 2.5% in the fourth quarter. CFO4Life Group LLC now owns 626 shares of the industrial products company's stock valued at $359,000 after acquiring an additional 15 shares during the last quarter. Finally, Sandy Cove Advisors LLC increased its position in shares of Caterpillar by 1.2% in the fourth quarter. Sandy Cove Advisors LLC now owns 1,279 shares of the industrial products company's stock valued at $733,000 after acquiring an additional 15 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

Caterpillar Trading Up 0.0%

Shares of NYSE:CAT opened at $880.23 on Tuesday. Caterpillar Inc. has a 12-month low of $336.24 and a 12-month high of $931.35. The stock has a market cap of $405.42 billion, a PE ratio of 43.81, a P/E/G ratio of 1.74 and a beta of 1.63. The business has a 50 day moving average of $795.32 and a 200-day moving average of $694.03. The company has a quick ratio of 0.81, a current ratio of 1.35 and a debt-to-equity ratio of 1.64.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The industrial products company reported $5.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.65 by $0.89. Caterpillar had a return on equity of 48.21% and a net margin of 13.33%.The company had revenue of $17.42 billion during the quarter, compared to analysts' expectations of $16.53 billion. During the same quarter in the previous year, the company posted $4.25 earnings per share. The business's revenue was up 22.2% on a year-over-year basis. As a group, equities research analysts forecast that Caterpillar Inc. will post 24.67 earnings per share for the current year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 19th. Stockholders of record on Monday, April 20th were given a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Monday, April 20th. Caterpillar's payout ratio is presently 30.06%.

Insider Buying and Selling

In other news, CAO William E. Schaupp sold 360 shares of Caterpillar stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $906.00, for a total value of $326,160.00. Following the completion of the sale, the chief accounting officer directly owned 530 shares in the company, valued at approximately $480,180. The trade was a 40.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lange Bob De sold 24,222 shares of Caterpillar stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $922.92, for a total transaction of $22,354,968.24. Following the completion of the sale, the insider owned 86,029 shares of the company's stock, valued at approximately $79,397,884.68. The trade was a 21.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 98,273 shares of company stock valued at $89,439,960 in the last quarter. Corporate insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

CAT has been the subject of a number of research analyst reports. Wolfe Research lifted their price target on Caterpillar from $670.00 to $750.00 and gave the stock an "outperform" rating in a report on Tuesday, March 31st. Truist Financial set a $1,043.00 price target on Caterpillar in a report on Friday, May 1st. Royal Bank Of Canada lifted their price target on Caterpillar from $587.00 to $658.00 and gave the stock a "sector perform" rating in a report on Friday, January 30th. Wells Fargo & Company lifted their price target on Caterpillar from $960.00 to $1,050.00 and gave the stock an "overweight" rating in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. lifted their price target on Caterpillar from $860.00 to $1,125.00 and gave the stock an "overweight" rating in a report on Friday, May 1st. Sixteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $923.14.

Caterpillar Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company's product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.

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