AlTi Global Inc. Purchases 310 Shares of Caterpillar Inc. (NYSE:CAT)

AlTi Global Inc. raised its position in shares of Caterpillar Inc. (NYSE:CAT) by 3.5% in the fourth quarter, Holdings Channel reports. The firm owned 9,155 shares of the industrial products company’s stock after acquiring an additional 310 shares during the quarter. AlTi Global Inc.’s holdings in Caterpillar were worth $3,399,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Caterpillar by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 46,809,540 shares of the industrial products company’s stock valued at $16,980,629,000 after purchasing an additional 284,366 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Caterpillar by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 10,449,770 shares of the industrial products company’s stock valued at $3,790,841,000 after buying an additional 236,315 shares during the last quarter. Fisher Asset Management LLC increased its holdings in Caterpillar by 1.4% in the 4th quarter. Fisher Asset Management LLC now owns 9,081,775 shares of the industrial products company’s stock worth $3,294,505,000 after buying an additional 129,143 shares in the last quarter. Northern Trust Corp raised its position in Caterpillar by 11.8% in the 4th quarter. Northern Trust Corp now owns 6,847,330 shares of the industrial products company’s stock worth $2,483,937,000 after buying an additional 724,477 shares during the last quarter. Finally, Norges Bank bought a new position in Caterpillar during the 4th quarter valued at about $2,184,364,000. Institutional investors own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CAT shares. DA Davidson cut their target price on shares of Caterpillar from $357.00 to $325.00 and set a “neutral” rating for the company in a research report on Monday, April 21st. Wedbush upgraded Caterpillar to an “outperform” rating in a research report on Monday, February 3rd. Truist Financial reiterated a “buy” rating and issued a $396.00 price objective (up previously from $389.00) on shares of Caterpillar in a research note on Thursday. UBS Group raised shares of Caterpillar from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $355.00 to $385.00 in a research report on Monday, February 3rd. Finally, Evercore ISI upped their price target on Caterpillar from $365.00 to $375.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 19th. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Caterpillar has an average rating of “Moderate Buy” and a consensus target price of $366.00.

Caterpillar Trading Up 3.1 %

CAT stock opened at $323.74 on Friday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $418.50. The business has a 50 day simple moving average of $318.18 and a two-hundred day simple moving average of $357.78. The company has a market capitalization of $154.73 billion, a price-to-earnings ratio of 14.67, a PEG ratio of 1.87 and a beta of 1.21.

Caterpillar (NYSE:CAT) last announced its quarterly 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 during the quarter, compared to the consensus estimate of $14.64 billion. During the same quarter in the prior year, the firm posted $5.60 earnings per share. The business’s revenue was down 9.8% on a year-over-year basis. Research analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Monday, April 21st will be issued a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend is Monday, April 21st. Caterpillar’s dividend payout ratio is presently 25.56%.

Insiders Place Their Bets

In other Caterpillar news, Director Gerald Johnson bought 100 shares of Caterpillar stock in a transaction dated Tuesday, February 4th. The shares were purchased at an average cost of $365.57 per share, for a total transaction of $36,557.00. Following the acquisition, the director now directly owns 3,053 shares in the company, valued at approximately $1,116,085.21. This represents a 3.39 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jason Kaiser sold 2,425 shares of Caterpillar stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total value of $860,147.50. Following the completion of the transaction, the insider now owns 6,275 shares of the company’s stock, valued at approximately $2,225,742.50. This represents a 27.87 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

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.