Two Sigma Investments LP Has $689,000 Position in Caterpillar Inc. (NYSE:CAT)

Two Sigma Investments LP cut its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 88.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,900 shares of the industrial products company's stock after selling 14,093 shares during the quarter. Two Sigma Investments LP's holdings in Caterpillar were worth $689,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Wagner Wealth Management LLC raised its position in Caterpillar by 4.0% in the fourth quarter. Wagner Wealth Management LLC now owns 668 shares of the industrial products company's stock valued at $242,000 after purchasing an additional 26 shares during the period. Adell Harriman & Carpenter Inc. increased its position in shares of Caterpillar by 1.2% during the fourth quarter. Adell Harriman & Carpenter Inc. now owns 2,256 shares of the industrial products company's stock worth $818,000 after acquiring an additional 27 shares during the last quarter. Abacus Planning Group Inc. increased its position in shares of Caterpillar by 1.0% during the fourth quarter. Abacus Planning Group Inc. now owns 2,897 shares of the industrial products company's stock worth $1,051,000 after acquiring an additional 28 shares during the last quarter. Cape Investment Advisory Inc. increased its position in shares of Caterpillar by 6.3% during the fourth quarter. Cape Investment Advisory Inc. now owns 471 shares of the industrial products company's stock worth $171,000 after acquiring an additional 28 shares during the last quarter. Finally, Beacon Capital Management LLC increased its position in shares of Caterpillar by 2.1% during the fourth quarter. Beacon Capital Management LLC now owns 1,432 shares of the industrial products company's stock worth $520,000 after acquiring an additional 29 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on CAT shares. Robert W. Baird raised Caterpillar from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $309.00 to $395.00 in a research report on Tuesday, May 13th. Oppenheimer upgraded Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 price target for the company in a research note on Thursday, May 1st. Citigroup lifted their price target on Caterpillar from $320.00 to $370.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Truist Financial reiterated a "buy" rating and issued a $396.00 price target (up from $389.00) on shares of Caterpillar in a research note on Thursday, May 1st. Finally, Wall Street Zen downgraded Caterpillar from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. 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 data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $372.92.

Insider Buying and Selling

In related news, Director David Maclennan purchased 375 shares of the company's stock in a transaction on Wednesday, May 7th. The shares were bought at an average price of $320.70 per share, with a total value of $120,262.50. Following the completion of the acquisition, the director now owns 6,653 shares of the company's stock, valued at approximately $2,133,617.10. This represents a 5.97% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.33% of the stock is owned by corporate insiders.

Caterpillar Stock Performance

Shares of NYSE CAT traded up $4.52 during midday trading on Wednesday, hitting $363.09. 2,551,585 shares of the company's stock were exchanged, compared to its average volume of 2,590,153. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. The stock's 50 day moving average price is $323.77 and its 200-day moving average price is $349.29. The firm has a market cap of $171.03 billion, a P/E ratio of 16.45, a PEG ratio of 1.87 and a beta of 1.37. Caterpillar Inc. has a twelve month low of $267.30 and a twelve 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 (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $14.64 billion. During the same quarter in the prior year, the firm posted $5.60 earnings per share. The business's quarterly revenue was down 9.8% on a year-over-year basis. Equities research analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, July 21st will be issued a dividend of $1.51 per share. This is a boost from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 annualized dividend and a yield of 1.66%. Caterpillar's payout ratio is presently 27.49%.

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.