Challenger Wealth Management Purchases New Holdings in Caterpillar Inc. (NYSE:CAT)

Challenger Wealth Management purchased a new position in Caterpillar Inc. (NYSE:CAT - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,000 shares of the industrial products company's stock, valued at approximately $363,000.

A number of other hedge funds also recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of Caterpillar in the 4th quarter worth approximately $2,184,364,000. Capital Research Global Investors grew its holdings in shares of Caterpillar by 69.3% during the fourth quarter. Capital Research Global Investors now owns 2,924,054 shares of the industrial products company's stock valued at $1,060,730,000 after buying an additional 1,196,861 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Caterpillar in the fourth quarter worth $353,231,000. Proficio Capital Partners LLC increased its position in Caterpillar by 50,072.7% in the fourth quarter. Proficio Capital Partners LLC now owns 804,770 shares of the industrial products company's stock worth $291,938,000 after buying an additional 803,166 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Caterpillar by 11.8% during the 4th 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 during the last quarter. 70.98% of the stock is owned by institutional investors.

Caterpillar Trading Down 0.2%

Shares of CAT traded down $0.75 during trading hours on Friday, reaching $351.04. 990,294 shares of the company traded hands, compared to its average volume of 2,625,833. The stock's fifty day moving average price is $319.13 and its 200 day moving average price is $351.46. 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 12-month low of $267.30 and a 12-month high of $418.50. The firm has a market cap of $165.35 billion, a price-to-earnings ratio of 15.91, a PEG ratio of 1.87 and a beta of 1.35.

Caterpillar (NYSE:CAT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.35 by ($0.10). The company had revenue of $14.25 billion for the quarter, compared to analysts' expectations of $14.64 billion. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. The business's revenue for the quarter was down 9.8% on a year-over-year basis. During the same period in the previous year, the business earned $5.60 earnings per share. Sell-side analysts forecast 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 was paid on Tuesday, May 20th. Shareholders of record on Monday, April 21st were issued a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date was Monday, April 21st. Caterpillar's dividend payout ratio is presently 27.49%.

Insider Transactions at Caterpillar

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CAT. JPMorgan Chase & Co. decreased their target price on Caterpillar from $490.00 to $380.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Truist Financial reaffirmed a "buy" rating and issued a $396.00 price objective (up previously from $389.00) on shares of Caterpillar in a report on Thursday, May 1st. Baird R W raised Caterpillar from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 13th. Bank of America increased their price objective on shares of Caterpillar from $335.00 to $385.00 and gave the company a "buy" rating in a report on Friday. Finally, UBS Group upgraded Caterpillar from a "sell" rating to a "neutral" rating and boosted their target price for the stock from $272.00 to $357.00 in a report on Friday, May 16th. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Caterpillar presently has a consensus rating of "Moderate Buy" and a consensus target price of $372.92.

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.