Caterpillar Inc. (NYSE:CAT) Shares Acquired by First Manhattan CO. LLC.

First Manhattan CO. LLC. increased its position in shares of Caterpillar Inc. (NYSE:CAT) by 3.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,328 shares of the industrial products company’s stock after buying an additional 164 shares during the period. First Manhattan CO. LLC.’s holdings in Caterpillar were worth $1,570,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in CAT. Flagship Wealth Advisors LLC purchased a new position in Caterpillar in the fourth quarter valued at about $26,000. Halbert Hargrove Global Advisors LLC acquired a new position in Caterpillar in the fourth quarter worth $27,000. Cyrus J. Lawrence LLC acquired a new stake in Caterpillar during the fourth quarter worth about $27,000. Noble Wealth Management PBC acquired a new position in Caterpillar during the 4th quarter valued at approximately $31,000. Finally, Retirement Wealth Solutions LLC acquired a new stake in shares of Caterpillar in the 4th quarter worth about $34,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Stock Performance

CAT stock opened at $325.47 on Friday. The company has a market capitalization of $153.31 billion, a price-to-earnings ratio of 14.75, a P/E/G ratio of 1.87 and a beta of 1.35. The firm has a 50 day moving average of $316.76 and a two-hundred day moving average of $355.18. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $418.50.

Caterpillar (NYSE:CAT) last posted its earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share for the quarter, missing the consensus estimate of $4.35 by ($0.10). The company had revenue of $14.25 billion for the quarter, compared to the consensus estimate of $14.64 billion. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. Caterpillar’s quarterly revenue was down 9.8% on a year-over-year basis. During the same quarter last year, the business earned $5.60 earnings per share. As a group, equities analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 20th. Stockholders of record on Monday, April 21st will be paid a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date is Monday, April 21st. Caterpillar’s payout ratio is 27.49%.

Insider Activity at Caterpillar

In other news, 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 transaction, the insider now directly owns 6,275 shares in the company, valued at approximately $2,225,742.50. The trade was a 27.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David Maclennan bought 375 shares of the firm’s stock in a transaction that occurred on Wednesday, May 7th. The shares were acquired at an average price of $320.70 per share, with a total value of $120,262.50. Following the purchase, the director now owns 6,653 shares in the company, valued at $2,133,617.10. This trade represents a 5.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CAT shares. Morgan Stanley upgraded Caterpillar from an “underweight” rating to an “equal weight” rating and reduced their price target for the stock from $300.00 to $283.00 in a research report on Wednesday, April 16th. Oppenheimer upgraded Caterpillar from a “market perform” rating to an “outperform” rating and set a $395.00 target price on the stock in a report on Thursday, May 1st. Citigroup lifted their price target on Caterpillar from $320.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. Truist Financial reaffirmed a “buy” rating and set a $396.00 price objective (up from $389.00) on shares of Caterpillar in a research note on Thursday, May 1st. Finally, Raymond James upgraded shares of Caterpillar from a “market perform” rating to an “outperform” rating in a report on Monday, February 3rd. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $370.67.

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.