Caterpillar Inc. (NYSE:CAT) Shares Purchased by Shell Asset Management Co.

Shell Asset Management Co. boosted its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 93.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,467 shares of the industrial products company's stock after acquiring an additional 4,089 shares during the period. Shell Asset Management Co.'s holdings in Caterpillar were worth $3,071,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CAT. Flagship Wealth Advisors LLC acquired a new position in Caterpillar during the fourth quarter worth $26,000. Halbert Hargrove Global Advisors LLC acquired a new position in Caterpillar during the fourth quarter worth $27,000. Cyrus J. Lawrence LLC acquired a new position in Caterpillar during the fourth quarter worth $27,000. Noble Wealth Management PBC acquired a new position in Caterpillar during the fourth quarter worth $31,000. Finally, Retirement Wealth Solutions LLC acquired a new position in Caterpillar during the fourth quarter worth $34,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Stock Performance

NYSE CAT traded down $3.56 during trading hours on Tuesday, hitting $349.01. The company had a trading volume of 2,264,630 shares, compared to its average volume of 2,640,007. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $418.50. The company has a market cap of $164.40 billion, a PE ratio of 15.81, a price-to-earnings-growth ratio of 1.87 and a beta of 1.35. The business has a 50 day moving average of $317.70 and a 200-day moving average of $353.57.

Caterpillar (NYSE:CAT - Get Free Report) last released 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 net margin of 16.65% and a return on equity of 58.18%. The company had revenue of $14.25 billion during the quarter, compared to analyst estimates of $14.64 billion. During the same quarter in the prior year, the company earned $5.60 EPS. The business's revenue was down 9.8% on a year-over-year basis. As a group, equities research analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Stockholders of record on Monday, April 21st will be paid a dividend of $1.41 per share. The ex-dividend date is Monday, April 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.62%. Caterpillar's dividend payout ratio (DPR) is 27.49%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. JPMorgan Chase & Co. decreased their price target on Caterpillar from $490.00 to $380.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Citigroup upped their price objective on Caterpillar from $320.00 to $370.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Truist Financial reaffirmed a "buy" rating and set a $396.00 price objective (up previously from $389.00) on shares of Caterpillar in a research report on Thursday, May 1st. Bank of America reduced their target price on shares of Caterpillar from $452.00 to $414.00 and set a "buy" rating on the stock in a report on Friday, January 31st. Finally, UBS Group upgraded shares of Caterpillar from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $272.00 to $357.00 in a report on Friday. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $375.33.

Insider Transactions at Caterpillar

In other news, Director David Maclennan acquired 375 shares of Caterpillar stock in a transaction that occurred on Wednesday, May 7th. The stock was purchased at an average price of $320.70 per share, for a total transaction of $120,262.50. Following the completion of the transaction, the director now directly owns 6,653 shares in the company, valued at approximately $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. Insiders own 0.33% of the company's stock.

Caterpillar 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.