Jupiter Asset Management Ltd. Boosts Stock Holdings in Caterpillar Inc. $CAT

Key Points

• Jupiter Asset Management massively increased its Caterpillar stake in the fourth quarter, buying an additional 60,892 shares and ending with 61,335 shares valued at about $35.1 million.
• Caterpillar reported strong quarterly results, with EPS of $5.54 beating estimates and revenue of $17.42 billion, up 22.2% year over year. Analysts now expect full-year EPS of 24.67.
• Despite some insider selling, Wall Street remains upbeat on CAT, with 16 Buy ratings and a consensus Moderate Buy target of $923.14, while the stock recently traded near $887 after a 2.5% decline.

Jupiter Asset Management Ltd. lifted its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 13,745.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 61,335 shares of the industrial products company's stock after purchasing an additional 60,892 shares during the period. Jupiter Asset Management Ltd.'s holdings in Caterpillar were worth $35,137,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CAT. Torren Management LLC purchased a new stake in Caterpillar during the fourth quarter worth $27,000. Frazier Financial Advisors LLC lifted its stake in shares of Caterpillar by 220.0% during the 4th quarter. Frazier Financial Advisors LLC now owns 48 shares of the industrial products company's stock worth $28,000 after purchasing an additional 33 shares during the last quarter. IFS Advisors LLC bought a new stake in Caterpillar during the fourth quarter valued at about $31,000. Rialto Wealth Management LLC grew its stake in Caterpillar by 47.4% in the fourth quarter. Rialto Wealth Management LLC now owns 56 shares of the industrial products company's stock valued at $32,000 after purchasing an additional 18 shares during the last quarter. Finally, Noble Wealth Management PBC raised 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 purchasing an additional 35 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Oppenheimer set a $980.00 price objective on shares of Caterpillar and gave the stock an "outperform" rating in a research report on Friday, May 1st. Truist Financial set a $1,043.00 price objective on shares of Caterpillar in a report on Friday, May 1st. Jefferies Financial Group increased their price objective on shares of Caterpillar from $900.00 to $1,045.00 and gave the company a "buy" rating in a research report on Friday, May 1st. CICC Research started coverage on shares of Caterpillar in a research report on Friday, February 6th. They set an "outperform" rating on the stock. Finally, Barclays raised their price target on shares of Caterpillar from $700.00 to $800.00 and gave the stock an "equal weight" rating in a report on Friday, May 1st. Sixteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $923.14.

Caterpillar Trading Down 2.5%

Caterpillar stock opened at $887.04 on Friday. The stock has a 50-day moving average price of $807.51 and a 200 day moving average price of $701.11. The company has a market capitalization of $408.56 billion, a price-to-earnings ratio of 44.15, a price-to-earnings-growth ratio of 1.80 and a beta of 1.63. Caterpillar Inc. has a 52 week low of $339.50 and a 52 week high of $931.35. The company has a quick ratio of 0.81, a current ratio of 1.35 and a debt-to-equity ratio of 1.64.

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

Caterpillar Announces Dividend

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

Insiders Place Their Bets

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 15,674 shares of the business's stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $918.71, for a total value of $14,399,860.54. Following the completion of the transaction, the chief financial officer directly owned 52,935 shares of the company's stock, valued at approximately $48,631,913.85. The trade was a 22.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Denise C. Johnson sold 12,605 shares of the firm's stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $907.91, for a total transaction of $11,444,205.55. Following the sale, the insider directly owned 49,825 shares in the company, valued at $45,236,615.75. The trade was a 20.19% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 98,273 shares of company stock worth $89,439,960. 0.33% of the stock is currently owned by company insiders.

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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