GAMMA Investing LLC Has $1.23 Billion Stock Position in Caterpillar Inc. (NYSE:CAT)

GAMMA Investing LLC grew its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 43,447.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,730,259 shares of the industrial products company's stock after buying an additional 3,721,693 shares during the quarter. GAMMA Investing LLC owned approximately 0.78% of Caterpillar worth $1,230,239,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Flagship Wealth Advisors LLC bought a new position in shares of Caterpillar in the fourth quarter worth about $26,000. Halbert Hargrove Global Advisors LLC bought a new position in Caterpillar during the fourth quarter valued at approximately $27,000. Cyrus J. Lawrence LLC bought a new position in shares of Caterpillar during the 4th quarter valued at approximately $27,000. Noble Wealth Management PBC bought a new position in shares of Caterpillar during the 4th quarter valued at approximately $31,000. Finally, Investment Management Corp VA ADV bought a new position in Caterpillar in the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 70.98% of the company's stock.

Wall Street Analyst Weigh In

CAT has been the subject of a number of analyst reports. Robert W. Baird upgraded Caterpillar from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $309.00 to $395.00 in a research note on Tuesday, May 13th. Morgan Stanley raised Caterpillar from an "underweight" rating to an "equal weight" rating and lowered their price target for the stock from $300.00 to $283.00 in a research note on Wednesday, April 16th. Oppenheimer raised Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 price objective on the stock in a research note on Thursday, May 1st. UBS Group upgraded Caterpillar from a "sell" rating to a "neutral" rating and boosted their price objective for the company from $272.00 to $357.00 in a report on Friday, May 16th. Finally, Truist Financial reaffirmed a "buy" rating and set a $396.00 price objective (up from $389.00) on shares of Caterpillar in a research report on Thursday, May 1st. 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. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $372.92.

Caterpillar Stock Performance

Shares of CAT traded up $6.04 on Tuesday, reaching $350.71. 783,441 shares of the stock traded hands, compared to its average volume of 2,610,407. The firm has a market cap of $165.20 billion, a price-to-earnings ratio of 15.89, a P/E/G ratio of 1.87 and a beta of 1.35. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $418.50. The stock's 50-day moving average price is $319.30 and its 200-day moving average price is $350.36.

Caterpillar (NYSE:CAT - Get Free Report) last posted its quarterly earnings data 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). Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. The business had revenue of $14.25 billion during the quarter, compared to analyst estimates of $14.64 billion. During the same period in the prior year, the firm posted $5.60 EPS. Caterpillar's revenue for the quarter was down 9.8% compared to the same quarter last year. Equities analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The firm 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. The ex-dividend date was Monday, April 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.61%. Caterpillar's dividend payout ratio (DPR) is currently 27.49%.

Insiders Place Their Bets

In other Caterpillar news, Director David Maclennan bought 375 shares of Caterpillar stock in a transaction dated Wednesday, May 7th. The stock was bought at an average cost 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 $2,133,617.10. The trade was a 5.97% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.33% of the company's stock.

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.