Fideuram Asset Management Ireland dac Makes New Investment in Caterpillar Inc. $CAT

Key Points

• Fideuram Asset Management Ireland dac initiated a new position in Caterpillar during the fourth quarter, buying 9,976 shares worth about $5.7 million.
• Caterpillar’s latest quarterly results beat expectations, with EPS of $5.54 and revenue of $17.42 billion, both above analyst estimates; revenue also rose 22.2% year over year.
• Insider selling has been notable, including large sales by CFO Andrew R. J. Bonfield and insider Denise C. Johnson, while analysts remain broadly positive with a Moderate Buy consensus and an average target price of $923.14.

Fideuram Asset Management Ireland dac purchased a new position in Caterpillar Inc. (NYSE:CAT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,976 shares of the industrial products company's stock, valued at approximately $5,715,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Torren Management LLC bought a new position in Caterpillar in the fourth quarter worth approximately $27,000. Frazier Financial Advisors LLC boosted its holdings in Caterpillar by 220.0% in the fourth quarter. Frazier Financial Advisors LLC now owns 48 shares of the industrial products company's stock worth $28,000 after acquiring an additional 33 shares in the last quarter. IFS Advisors LLC bought a new position in Caterpillar in the fourth quarter worth approximately $31,000. Rialto Wealth Management LLC boosted its holdings in Caterpillar by 47.4% in the fourth quarter. Rialto Wealth Management LLC now owns 56 shares of the industrial products company's stock worth $32,000 after acquiring an additional 18 shares in the last quarter. Finally, Noble Wealth Management PBC boosted its holdings in Caterpillar by 140.0% in the fourth quarter. Noble Wealth Management PBC now owns 60 shares of the industrial products company's stock worth $34,000 after acquiring an additional 35 shares in the last quarter. Institutional investors own 70.98% of the company's stock.

Insider Activity at Caterpillar

In related news, CFO Andrew R. J. Bonfield sold 15,674 shares of Caterpillar stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $918.71, for a total transaction of $14,399,860.54. Following the completion of the sale, the chief financial officer owned 52,935 shares of the company's stock, valued at approximately $48,631,913.85. This trade represents a 22.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Denise C. Johnson sold 12,605 shares of Caterpillar stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $907.91, for a total value of $11,444,205.55. Following the sale, the insider directly owned 49,825 shares of the company's stock, valued at approximately $45,236,615.75. This trade represents a 20.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 98,273 shares of company stock valued at $89,439,960 in the last ninety days. 0.33% of the stock is currently owned by corporate insiders.

Caterpillar Price Performance

Shares of NYSE CAT opened at $887.04 on Friday. The stock has a market cap of $408.56 billion, a PE ratio of 44.15, a price-to-earnings-growth ratio of 1.80 and a beta of 1.63. Caterpillar Inc. has a fifty-two week low of $339.50 and a fifty-two week high of $931.35. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.81 and a current ratio of 1.35. The stock has a fifty day moving average of $807.51 and a 200-day moving average of $701.11.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The industrial products company reported $5.54 earnings per share for the quarter, beating the consensus estimate of $4.65 by $0.89. The company had revenue of $17.42 billion during the quarter, compared to analysts' expectations of $16.53 billion. Caterpillar had a return on equity of 48.21% and a net margin of 13.33%.The firm's quarterly revenue was up 22.2% compared to the same quarter last year. During the same period in the previous year, the business earned $4.25 earnings per share. Equities research analysts anticipate that Caterpillar Inc. will post 24.67 earnings per share for the current year.

Caterpillar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 19th. Investors of record on Monday, April 20th were paid a dividend of $1.51 per share. The ex-dividend date of this dividend was Monday, April 20th. This represents a $6.04 annualized dividend and a yield of 0.7%. Caterpillar's dividend payout ratio (DPR) is currently 30.06%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on CAT shares. Daiwa Securities Group raised their target price on Caterpillar from $790.00 to $900.00 and gave the company a "neutral" rating in a report on Friday, May 1st. CICC Research started coverage on Caterpillar in a report on Friday, February 6th. They issued an "outperform" rating on the stock. Robert W. Baird raised their target price on Caterpillar from $940.00 to $1,165.00 and gave the company an "outperform" rating in a report on Friday, May 1st. Wells Fargo & Company raised their target price on Caterpillar from $960.00 to $1,050.00 and gave the company an "overweight" rating in a report on Friday, May 1st. Finally, Citigroup raised their target price on Caterpillar from $905.00 to $1,020.00 and gave the company a "buy" rating in a report on Friday, May 1st. Sixteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, Caterpillar currently has an average rating of "Moderate Buy" and a consensus target price 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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