Mutual Advisors LLC increased its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 14.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,090 shares of the industrial products company's stock after buying an additional 2,490 shares during the period. Mutual Advisors LLC's holdings in Caterpillar were worth $6,157,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in CAT. Vanguard Group Inc. grew its position in shares of Caterpillar by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 46,809,540 shares of the industrial products company's stock valued at $16,980,629,000 after purchasing an additional 284,366 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Caterpillar by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 10,449,770 shares of the industrial products company's stock valued at $3,790,841,000 after buying an additional 236,315 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Caterpillar by 11.8% in the 4th quarter. Northern Trust Corp now owns 6,847,330 shares of the industrial products company's stock worth $2,483,937,000 after purchasing an additional 724,477 shares in the last quarter. Norges Bank bought a new position in Caterpillar during the fourth quarter valued at approximately $2,184,364,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Caterpillar by 8.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,940,391 shares of the industrial products company's stock worth $1,429,416,000 after purchasing an additional 312,878 shares during the period. Hedge funds and other institutional investors own 70.98% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on CAT. Truist Financial increased their price objective on Caterpillar from $396.00 to $414.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. DA Davidson lifted their price target on Caterpillar from $325.00 to $331.00 and gave the company a "neutral" rating in a research report on Monday, May 5th. JPMorgan Chase & Co. dropped their price target on Caterpillar from $490.00 to $380.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Citigroup restated a "buy" rating and issued a $420.00 price target (up previously from $370.00) on shares of Caterpillar in a research note on Tuesday, June 24th. Finally, Morgan Stanley raised Caterpillar from an "underweight" rating to an "equal weight" rating and dropped their target price for the stock from $300.00 to $283.00 in a report on Wednesday, April 16th. Six 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 stock. According to data from MarketBeat.com, Caterpillar currently has an average rating of "Moderate Buy" and a consensus price target of $380.83.
Check Out Our Latest Stock Analysis on Caterpillar
Insiders Place Their Bets
In other Caterpillar news, Director David Maclennan purchased 375 shares of Caterpillar stock in a transaction dated Wednesday, May 7th. The stock was purchased at an average price of $320.70 per share, with a total value of $120,262.50. Following the transaction, the director directly owned 6,653 shares of the company's stock, valued at $2,133,617.10. This trade represents a 5.97% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.33% of the company's stock.
Caterpillar Stock Performance
NYSE:CAT traded up $0.90 during mid-day trading on Friday, reaching $399.33. The company's stock had a trading volume of 1,737,838 shares, compared to its average volume of 2,523,847. The company has a current ratio of 1.32, a quick ratio of 0.77 and a debt-to-equity ratio of 1.43. The stock has a market cap of $188.10 billion, a P/E ratio of 19.46, a PEG ratio of 2.65 and a beta of 1.38. The firm's fifty day moving average price is $350.10 and its two-hundred day moving average price is $346.79. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $418.50.
Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share for the quarter, missing analysts' consensus estimates of $4.35 by ($0.10). The company had revenue of $14.25 billion for the quarter, compared to the consensus estimate of $14.64 billion. Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. The firm's revenue for the quarter was down 9.8% on a year-over-year basis. During the same quarter last year, the company earned $5.60 EPS. On average, equities analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.
Caterpillar Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, July 21st will be given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend is Monday, July 21st. This is a boost from Caterpillar's previous quarterly dividend of $1.41. Caterpillar's dividend payout ratio is 29.43%.
Caterpillar Profile
(
Free Report)
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.
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