Alpha Cubed Investments LLC Has $29.09 Million Stock Position in Caterpillar Inc. (NYSE:CAT)

Alpha Cubed Investments LLC grew its position in Caterpillar Inc. (NYSE:CAT) by 10.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 98,386 shares of the industrial products company’s stock after buying an additional 9,460 shares during the period. Caterpillar accounts for approximately 1.6% of Alpha Cubed Investments LLC’s investment portfolio, making the stock its 19th largest holding. Alpha Cubed Investments LLC’s holdings in Caterpillar were worth $29,090,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in CAT. Brighton Jones LLC grew its stake in shares of Caterpillar by 32.8% during the fourth quarter. Brighton Jones LLC now owns 5,610 shares of the industrial products company’s stock worth $1,659,000 after purchasing an additional 1,387 shares during the period. Vanguard Capital Wealth Advisors grew its stake in shares of Caterpillar by 3.0% during the fourth quarter. Vanguard Capital Wealth Advisors now owns 3,221 shares of the industrial products company’s stock worth $952,000 after purchasing an additional 95 shares during the period. Pekin Hardy Strauss Inc. acquired a new stake in shares of Caterpillar during the fourth quarter worth $206,000. Certuity LLC grew its stake in shares of Caterpillar by 105.8% during the fourth quarter. Certuity LLC now owns 4,300 shares of the industrial products company’s stock worth $1,271,000 after purchasing an additional 2,211 shares during the period. Finally, Penobscot Investment Management Company Inc. grew its stake in shares of Caterpillar by 18.9% during the fourth quarter. Penobscot Investment Management Company Inc. now owns 7,555 shares of the industrial products company’s stock worth $2,234,000 after purchasing an additional 1,200 shares during the period. 70.98% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CAT shares. Stifel Nicolaus cut Caterpillar from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $293.00 to $350.00 in a research note on Friday. HSBC lifted their target price on Caterpillar from $330.00 to $360.00 and gave the stock a “hold” rating in a report on Tuesday. TD Cowen lifted their target price on Caterpillar from $338.00 to $340.00 and gave the stock a “buy” rating in a report on Friday. Robert W. Baird lifted their target price on Caterpillar from $210.00 to $257.00 and gave the stock an “underperform” rating in a report on Tuesday, February 6th. Finally, Truist Financial started coverage on Caterpillar in a report on Thursday, March 14th. They set a “buy” rating and a $390.00 target price on the stock. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Caterpillar currently has an average rating of “Hold” and a consensus price target of $323.35.

Insiders Place Their Bets

In other Caterpillar news, insider Anthony D. Fassino sold 4,575 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $329.80, for a total transaction of $1,508,835.00. Following the completion of the sale, the insider now directly owns 23,474 shares in the company, valued at $7,741,725.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $310.10, for a total value of $3,101,000.00. Following the completion of the transaction, the chief financial officer now directly owns 57,317 shares in the company, valued at approximately $17,774,001.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Anthony D. Fassino sold 4,575 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $329.80, for a total value of $1,508,835.00. Following the completion of the transaction, the insider now owns 23,474 shares of the company’s stock, valued at $7,741,725.20. The disclosure for this sale can be found here. Insiders sold 35,769 shares of company stock worth $11,508,906 over the last three months. Insiders own 0.33% of the company’s stock.

Caterpillar Stock Down 4.4 %

Shares of NYSE:CAT traded down $15.23 during midday trading on Tuesday, reaching $334.57. The company had a trading volume of 4,189,127 shares, compared to its average volume of 2,513,906. The company has a quick ratio of 0.83, a current ratio of 1.35 and a debt-to-equity ratio of 1.41. The business’s 50 day moving average price is $350.66 and its 200 day moving average price is $301.75. The stock has a market cap of $167.08 billion, a PE ratio of 15.20, a P/E/G ratio of 1.52 and a beta of 1.17. Caterpillar Inc. has a 1-year low of $205.60 and a 1-year high of $382.01.

Caterpillar (NYSE:CAT) last released its earnings results on Thursday, April 25th. The industrial products company reported $5.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.12 by $0.48. The business had revenue of $15.80 billion for the quarter, compared to the consensus estimate of $16.07 billion. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. Research analysts forecast that Caterpillar Inc. will post 21.44 EPS for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, April 22nd will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend is Friday, April 19th. Caterpillar’s payout ratio is presently 23.48%.

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.