10Elms LLP Takes Position in Caterpillar Inc. (NYSE:CAT)

10Elms LLP acquired a new position in Caterpillar Inc. (NYSE:CAT) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 852 shares of the industrial products company’s stock, valued at approximately $309,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Flagship Wealth Advisors LLC bought a new position in Caterpillar during the fourth quarter valued at approximately $26,000. Halbert Hargrove Global Advisors LLC bought a new position in shares of Caterpillar during the 4th quarter valued at $27,000. Cyrus J. Lawrence LLC purchased a new position in shares of Caterpillar in the 4th quarter worth $27,000. Noble Wealth Management PBC bought a new stake in shares of Caterpillar in the fourth quarter worth $31,000. Finally, Quarry LP purchased a new stake in Caterpillar during the fourth quarter valued at $35,000. 70.98% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CAT shares. Truist Financial restated a “buy” rating and set a $396.00 price target (up from $389.00) on shares of Caterpillar in a research note on Thursday, May 1st. UBS Group upgraded shares of Caterpillar from a “sell” rating to a “neutral” rating and boosted their target price for the company from $272.00 to $357.00 in a research report on Friday, May 16th. Robert W. Baird upgraded shares of Caterpillar from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $309.00 to $395.00 in a research report on Tuesday, May 13th. Oppenheimer raised shares of Caterpillar from a “market perform” rating to an “outperform” rating and set a $395.00 price objective for the company in a research report on Thursday, May 1st. Finally, JPMorgan Chase & Co. decreased their target price on Caterpillar from $490.00 to $380.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $375.33.

Caterpillar Stock Performance

NYSE:CAT opened at $349.01 on Wednesday. The stock has a 50-day moving average price of $318.02 and a 200 day moving average price of $353.54. The company has a current ratio of 1.42, a quick ratio of 0.89 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. The stock has a market capitalization of $164.40 billion, a P/E ratio of 15.81, a P/E/G ratio of 1.87 and a beta of 1.35.

Caterpillar (NYSE:CAT) last released its earnings results on Wednesday, April 30th. The industrial products company reported $4.25 EPS for the quarter, missing the consensus estimate of $4.35 by ($0.10). The company had revenue of $14.25 billion during the quarter, compared to analysts’ expectations of $14.64 billion. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. Caterpillar’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same period last year, the firm posted $5.60 EPS. Equities research analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Monday, April 21st were issued a $1.41 dividend. The ex-dividend date was 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%.

Insider Buying and Selling

In other news, Director David Maclennan acquired 375 shares of the firm’s stock in a transaction dated Wednesday, May 7th. The shares were acquired at an average cost of $320.70 per share, with a total value of $120,262.50. Following the acquisition, the director now directly owns 6,653 shares of the company’s stock, valued at approximately $2,133,617.10. The trade was a 5.97% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.33% of the stock is owned by company insiders.

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.