Caterpillar Inc. (NYSE:CAT) Stock Holdings Lifted by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 13.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 92,851 shares of the industrial products company's stock after acquiring an additional 11,250 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Caterpillar were worth $33,683,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CAT. Vanguard Group Inc. raised its holdings in shares of Caterpillar by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 46,809,540 shares of the industrial products company's stock valued at $16,980,629,000 after acquiring an additional 284,366 shares during the period. Geode Capital Management LLC grew its position in Caterpillar by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 10,449,770 shares of the industrial products company's stock worth $3,790,841,000 after purchasing an additional 236,315 shares in the last quarter. Fisher Asset Management LLC raised its stake in Caterpillar by 1.4% during the 4th quarter. Fisher Asset Management LLC now owns 9,081,775 shares of the industrial products company's stock valued at $3,294,505,000 after purchasing an additional 129,143 shares during the period. Northern Trust Corp lifted its holdings in shares of Caterpillar by 11.8% in the fourth quarter. Northern Trust Corp now owns 6,847,330 shares of the industrial products company's stock valued at $2,483,937,000 after purchasing an additional 724,477 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Caterpillar in the fourth quarter worth $2,184,364,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director David Maclennan bought 375 shares of Caterpillar stock in a transaction dated Wednesday, May 7th. The shares were bought at an average price of $320.70 per share, for a total transaction of $120,262.50. Following the purchase, the director now owns 6,653 shares of the company's stock, valued at approximately $2,133,617.10. This trade represents a 5.97% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.33% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CAT. UBS Group raised Caterpillar from a "sell" rating to a "neutral" rating and increased their price objective for the stock from $272.00 to $357.00 in a research note on Friday, May 16th. Truist Financial reiterated a "buy" rating and issued a $396.00 target price (up from $389.00) on shares of Caterpillar in a research note on Thursday, May 1st. Evercore ISI lowered their price objective on Caterpillar from $375.00 to $373.00 and set an "in-line" rating on the stock in a report on Monday. Bank of America decreased their price target on shares of Caterpillar from $452.00 to $414.00 and set a "buy" rating for the company in a report on Friday, January 31st. Finally, Raymond James upgraded Caterpillar from a "market perform" rating to an "outperform" rating in a research note on Monday, February 3rd. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Caterpillar presently has an average rating of "Moderate Buy" and a consensus target price of $375.33.

Caterpillar Price Performance

NYSE:CAT opened at $349.01 on Wednesday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42. The company has a 50-day moving average of $318.02 and a 200-day moving average of $353.54. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $418.50. The company has a market capitalization of $164.40 billion, a price-to-earnings ratio of 15.81, a PEG ratio of 1.87 and a beta of 1.35.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 EPS for the quarter, missing analysts' consensus estimates of $4.35 by ($0.10). The business had revenue of $14.25 billion for the quarter, compared to the consensus estimate of $14.64 billion. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. The firm's revenue for the quarter was down 9.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.60 EPS. As a group, equities research analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Monday, April 21st were given a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date was Monday, April 21st. Caterpillar's dividend payout ratio (DPR) is 27.49%.

About Caterpillar

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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