NewEdge Wealth LLC Has $4.99 Million Holdings in Caterpillar Inc. $CAT

Key Points

• NewEdge Wealth LLC increased its Caterpillar stake by 48.9% in the fourth quarter, bringing its holdings to 8,709 shares valued at about $4.99 million.
• Caterpillar reported better-than-expected Q1 earnings, posting $5.54 EPS on revenue of $17.42 billion, both ahead of analyst estimates, with revenue rising 22.2% year over year.
• The company also announced a quarterly dividend of $1.51 per share, while analysts remain broadly positive with a consensus rating of Moderate Buy and an average price target of $911.77.

NewEdge Wealth LLC grew its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 48.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,709 shares of the industrial products company's stock after buying an additional 2,861 shares during the quarter. NewEdge Wealth LLC's holdings in Caterpillar were worth $4,989,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CAT. Illinois Municipal Retirement Fund raised its position in Caterpillar by 7.3% during the third quarter. Illinois Municipal Retirement Fund now owns 17,262 shares of the industrial products company's stock worth $8,237,000 after acquiring an additional 1,181 shares in the last quarter. Caprock Group LLC bought a new stake in Caterpillar during the third quarter worth $8,893,000. ZEGA Investments LLC raised its position in Caterpillar by 149.6% during the third quarter. ZEGA Investments LLC now owns 4,184 shares of the industrial products company's stock worth $1,996,000 after acquiring an additional 2,508 shares in the last quarter. State of New Jersey Common Pension Fund D raised its position in Caterpillar by 2.5% during the third quarter. State of New Jersey Common Pension Fund D now owns 165,677 shares of the industrial products company's stock worth $79,053,000 after acquiring an additional 4,010 shares in the last quarter. Finally, Juno Financial Group LLC bought a new stake in Caterpillar during the fourth quarter worth $877,000. Institutional investors and hedge funds own 70.98% of the company's stock.

Caterpillar Trading Up 3.1%

Shares of Caterpillar stock opened at $925.54 on Tuesday. 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 firm has a 50-day moving average of $761.80 and a 200-day moving average of $670.30. Caterpillar Inc. has a 52-week low of $336.24 and a 52-week high of $931.35. The stock has a market cap of $426.30 billion, a PE ratio of 46.07, a PEG ratio of 1.80 and a beta of 1.63.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The industrial products company reported $5.54 earnings per share for the quarter, topping the consensus estimate of $4.65 by $0.89. The business had revenue of $17.42 billion during the quarter, compared to analysts' expectations of $16.53 billion. Caterpillar had a net margin of 13.33% and a return on equity of 48.21%. The business's revenue was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.25 EPS. As a group, sell-side analysts forecast that Caterpillar Inc. will post 24.21 EPS for the current year.

Caterpillar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 19th. Shareholders of record on Monday, April 20th will be issued a $1.51 dividend. The ex-dividend date of this dividend is Monday, April 20th. This represents a $6.04 dividend on an annualized basis and a yield of 0.7%. Caterpillar's payout ratio is currently 30.06%.

Insider Transactions at Caterpillar

In other Caterpillar news, insider Anthony D. Fassino sold 9,152 shares of the business's stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $926.25, for a total value of $8,477,040.00. Following the completion of the sale, the insider owned 46,041 shares of the company's stock, valued at $42,645,476.25. The trade was a 16.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jason Kaiser sold 5,642 shares of the business's stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $883.03, for a total transaction of $4,982,055.26. Following the completion of the sale, the insider directly owned 9,594 shares of the company's stock, valued at $8,471,789.82. This represents a 37.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 75,734 shares of company stock worth $67,054,613. Company insiders own 0.33% of the company's stock.

Wall Street Analysts Forecast Growth

CAT has been the topic of several analyst reports. JPMorgan Chase & Co. upped their price target on shares of Caterpillar from $860.00 to $1,125.00 and gave the stock an "overweight" rating in a research report on Friday, May 1st. Morgan Stanley set a $915.00 price target on shares of Caterpillar and gave the stock an "equal weight" rating in a research report on Friday, May 1st. DA Davidson upped their price target on shares of Caterpillar from $650.00 to $845.00 and gave the stock a "neutral" rating in a research report on Monday, May 4th. Barclays upped their price target on shares of Caterpillar from $700.00 to $800.00 and gave the stock an "equal weight" rating in a research report on Friday, May 1st. Finally, Daiwa Securities Group upped their price target on shares of Caterpillar from $790.00 to $900.00 and gave the stock a "neutral" rating in a research report on Friday, May 1st. Sixteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $911.77.

Caterpillar Company 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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