Cypress Asset Management Inc. TX Buys Shares of 2,662 Caterpillar Inc. (NYSE:CAT)

Cypress Asset Management Inc. TX purchased a new position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,662 shares of the industrial products company's stock, valued at approximately $1,016,000.

Other hedge funds have also made changes to their positions in the company. West Wealth Group LLC acquired a new stake in Caterpillar in the fourth quarter valued at approximately $230,000. Proficio Capital Partners LLC raised its holdings in Caterpillar by 38.3% in the fourth quarter. Proficio Capital Partners LLC now owns 2,218 shares of the industrial products company's stock valued at $805,000 after acquiring an additional 614 shares in the last quarter. Victrix Investment Advisors acquired a new stake in Caterpillar in the fourth quarter valued at approximately $2,090,000. Braun Stacey Associates Inc. raised its holdings in Caterpillar by 2.8% in the fourth quarter. Braun Stacey Associates Inc. now owns 34,837 shares of the industrial products company's stock valued at $12,637,000 after acquiring an additional 963 shares in the last quarter. Finally, Strategic Advisors LLC raised its holdings in Caterpillar by 14.6% in the fourth quarter. Strategic Advisors LLC now owns 5,724 shares of the industrial products company's stock valued at $2,076,000 after acquiring an additional 730 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

Insiders Place Their Bets

In other Caterpillar news, Director David Maclennan bought 375 shares of the business's stock in a transaction on Wednesday, May 7th. The shares were bought 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.33% of the stock is owned by company insiders.

Analyst Ratings Changes

CAT has been the topic of several analyst reports. UBS Group raised shares of Caterpillar from a "sell" rating to a "neutral" rating and raised their target price for the company from $272.00 to $357.00 in a report on Friday, May 16th. Citigroup increased their price target on shares of Caterpillar from $320.00 to $370.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Evercore ISI dropped their price target on shares of 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 increased their price target on shares of Caterpillar from $325.00 to $331.00 and gave the company a "neutral" rating in a research note on Monday, May 5th. Finally, Truist Financial restated a "buy" rating and set a $396.00 target price (up from $389.00) on shares of Caterpillar in a research report on Thursday, May 1st. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Caterpillar presently has an average rating of "Moderate Buy" and a consensus target price of $375.33.

Caterpillar Trading Down 0.5%

Shares of NYSE:CAT traded down $1.83 during trading on Wednesday, reaching $349.68. 1,921,494 shares of the stock were exchanged, compared to its average volume of 2,635,153. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42. 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 $164.71 billion, a price-to-earnings ratio of 15.84, a price-to-earnings-growth ratio of 1.87 and a beta of 1.35. The firm's 50-day moving average price is $318.65 and its 200 day moving average price is $351.78.

Caterpillar (NYSE:CAT - Get Free Report) last issued its earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.35 by ($0.10). Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. 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, sell-side 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 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%.

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.