Tidemark LLC Invests $636,000 in Caterpillar Inc. (NYSE:CAT)

Tidemark LLC bought a new position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,152 shares of the industrial products company's stock, valued at approximately $636,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Norges Bank purchased a new position in Caterpillar during the 4th quarter valued at about $1,660,560,000. International Assets Investment Management LLC grew its position in Caterpillar by 28,603.5% during the 4th quarter. International Assets Investment Management LLC now owns 1,494,018 shares of the industrial products company's stock worth $4,417,360,000 after purchasing an additional 1,488,813 shares during the last quarter. Capital Wealth Planning LLC boosted its holdings in shares of Caterpillar by 27,495.2% in the 4th quarter. Capital Wealth Planning LLC now owns 1,182,453 shares of the industrial products company's stock valued at $349,616,000 after acquiring an additional 1,178,168 shares during the last quarter. Winslow Capital Management LLC boosted its holdings in shares of Caterpillar by 2,265.3% in the 3rd quarter. Winslow Capital Management LLC now owns 1,117,830 shares of the industrial products company's stock valued at $305,168,000 after acquiring an additional 1,070,570 shares during the last quarter. Finally, FMR LLC boosted its holdings in shares of Caterpillar by 14.9% in the 3rd quarter. FMR LLC now owns 6,038,207 shares of the industrial products company's stock valued at $1,648,431,000 after acquiring an additional 781,111 shares during the last quarter. Institutional investors own 70.98% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on CAT shares. Wells Fargo & Company increased their target price on shares of Caterpillar from $290.00 to $325.00 and gave the company an "equal weight" rating in a research report on Tuesday, February 6th. StockNews.com lowered shares of Caterpillar from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 20th. Citigroup lifted their price target on Caterpillar from $255.00 to $340.00 and gave the stock a "neutral" rating in a research note on Monday, February 12th. The Goldman Sachs Group boosted their target price on shares of Caterpillar from $357.00 to $408.00 and gave the company a "buy" rating in a research note on Tuesday, April 16th. Finally, Truist Financial assumed coverage on shares of Caterpillar in a research note on Thursday, March 14th. They set a "buy" rating and a $390.00 price objective for the company. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $323.35.

Insiders Place Their Bets

In other news, Director David Maclennan bought 350 shares of the company's stock in a transaction that occurred on Friday, February 23rd. The shares were acquired at an average price of $323.37 per share, with a total value of $113,179.50. Following the transaction, the director now owns 5,238 shares in the company, valued at $1,693,812.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Caterpillar news, Director David Maclennan purchased 350 shares of the stock in a transaction dated Friday, February 23rd. The stock was bought at an average price of $323.37 per share, with a total value of $113,179.50. Following the acquisition, the director now owns 5,238 shares of the company's stock, valued at $1,693,812.06. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Lange Bob De sold 21,847 shares of the company's stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $356.90, for a total value of $7,797,194.30. Following the completion of the transaction, the insider now directly owns 71,115 shares of the company's stock, valued at approximately $25,380,943.50. The disclosure for this sale can be found here. Company insiders own 0.33% of the company's stock.

Caterpillar Price Performance

CAT stock traded down $3.13 during trading hours on Wednesday, hitting $355.94. 2,104,184 shares of the stock traded hands, compared to its average volume of 2,470,632. The company has a current ratio of 1.35, a quick ratio of 0.83 and a debt-to-equity ratio of 1.41. Caterpillar Inc. has a one year low of $205.60 and a one year high of $382.01. The company has a market cap of $174.07 billion, a P/E ratio of 16.12, a P/E/G ratio of 1.55 and a beta of 1.19. The stock has a 50-day simple moving average of $356.48 and a 200 day simple moving average of $313.06.

Caterpillar (NYSE:CAT - Get Free Report) last posted its quarterly earnings results on Thursday, April 25th. The industrial products company reported $5.60 earnings per share for the quarter, topping analysts' consensus estimates of $5.12 by $0.48. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. The company had revenue of $15.80 billion during the quarter, compared to the consensus estimate of $16.07 billion. Equities analysts forecast that Caterpillar Inc. will post 21.8 earnings per share for the current year.

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, April 22nd were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend was Friday, April 19th. Caterpillar's dividend payout ratio (DPR) is currently 23.48%.

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.

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