Polar Capital Holdings Plc Acquires New Position in Caterpillar Inc. (NYSE:CAT)

Polar Capital Holdings Plc acquired a new stake in Caterpillar Inc. (NYSE:CAT - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 31,325 shares of the industrial products company's stock, valued at approximately $11,363,000.

Other hedge funds have also modified their holdings of the company. FSM Wealth Advisors LLC raised its stake in shares of Caterpillar by 3.8% in the fourth quarter. FSM Wealth Advisors LLC now owns 688 shares of the industrial products company's stock worth $262,000 after purchasing an additional 25 shares during the last quarter. Allen Capital Group LLC increased its holdings in Caterpillar by 0.6% in the 4th quarter. Allen Capital Group LLC now owns 4,247 shares of the industrial products company's stock worth $1,541,000 after buying an additional 26 shares in the last quarter. Wagner Wealth Management LLC raised its position in Caterpillar by 4.0% in the 4th quarter. Wagner Wealth Management LLC now owns 668 shares of the industrial products company's stock worth $242,000 after buying an additional 26 shares during the last quarter. Channel Wealth LLC lifted its stake in Caterpillar by 1.9% during the 4th quarter. Channel Wealth LLC now owns 1,468 shares of the industrial products company's stock valued at $533,000 after acquiring an additional 27 shares during the period. Finally, Total Clarity Wealth Management Inc. grew its stake in shares of Caterpillar by 0.6% in the fourth quarter. Total Clarity Wealth Management Inc. now owns 4,373 shares of the industrial products company's stock worth $1,586,000 after acquiring an additional 27 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Caterpillar

In other Caterpillar news, insider Jason Kaiser sold 2,425 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total value of $860,147.50. Following the sale, the insider now directly owns 6,275 shares of the company's stock, valued at approximately $2,225,742.50. This represents a 27.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David Maclennan purchased 375 shares of Caterpillar stock in a transaction that occurred 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 transaction, the director now owns 6,653 shares of the company's stock, valued at $2,133,617.10. This represents a 5.97% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.33% of the company's stock.

Caterpillar Trading Down 0.3%

Shares of NYSE:CAT traded down $1.13 during trading on Monday, hitting $352.45. The company had a trading volume of 2,277,403 shares, compared to its average volume of 2,639,936. Caterpillar Inc. has a one year low of $267.30 and a one year high of $418.50. The stock has a market cap of $166.02 billion, a price-to-earnings ratio of 15.97, a price-to-earnings-growth ratio of 1.87 and a beta of 1.35. 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 company has a fifty day simple moving average of $317.42 and a two-hundred day simple moving average of $353.76.

Caterpillar (NYSE:CAT - Get Free Report) last issued its earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.35 by ($0.10). Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. The company had revenue of $14.25 billion for the quarter, compared to analysts' expectations of $14.64 billion. During the same period in the prior year, the firm posted $5.60 earnings per share. The firm's revenue for the quarter was down 9.8% compared to the same quarter last year. As a group, equities analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Stockholders of record on Monday, April 21st will be issued a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend is Monday, April 21st. Caterpillar's dividend payout ratio is currently 27.49%.

Analyst Ratings Changes

CAT has been the topic of a number of research analyst reports. UBS Group upgraded shares of Caterpillar from a "sell" rating to a "neutral" rating and increased their price objective for the company from $272.00 to $357.00 in a research report on Friday. Wedbush upgraded Caterpillar to an "outperform" rating in a research note on Monday, February 3rd. Robert W. Baird upgraded Caterpillar from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $309.00 to $395.00 in a research report on Tuesday, May 13th. DA Davidson boosted their price objective on shares of Caterpillar from $325.00 to $331.00 and gave the company a "neutral" rating in a research report on Monday, May 5th. Finally, Raymond James upgraded shares of Caterpillar from a "market perform" rating to an "outperform" rating in a research report on Monday, February 3rd. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Caterpillar has a consensus rating of "Moderate Buy" and a consensus price target of $375.33.

Caterpillar Company Profile

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.