Eurizon SLJ Capital Ltd acquired a new stake in Caterpillar Inc. (NYSE:CAT – Free Report) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 1,390 shares of the industrial products company’s stock, valued at approximately $796,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of CAT. Wellington Management Group LLP lifted its position in shares of Caterpillar by 3,949.8% during the 3rd quarter. Wellington Management Group LLP now owns 5,228,058 shares of the industrial products company’s stock valued at $2,494,568,000 after acquiring an additional 5,098,964 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in shares of Caterpillar by 573.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,504,612 shares of the industrial products company’s stock valued at $861,947,000 after acquiring an additional 1,281,087 shares during the period. Amundi lifted its position in shares of Caterpillar by 24.3% during the 3rd quarter. Amundi now owns 2,375,710 shares of the industrial products company’s stock valued at $1,176,870,000 after acquiring an additional 464,036 shares during the period. Vanguard Group Inc. lifted its position in shares of Caterpillar by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 46,385,185 shares of the industrial products company’s stock valued at $26,572,681,000 after acquiring an additional 442,164 shares during the period. Finally, Alphinity Investment Management Pty Ltd acquired a new stake in shares of Caterpillar during the 4th quarter valued at approximately $252,204,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.
Caterpillar Trading Down 1.7%
Shares of Caterpillar stock opened at $872.61 on Friday. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 0.81. Caterpillar Inc. has a 1 year low of $339.50 and a 1 year high of $931.35. The company has a market capitalization of $401.91 billion, a P/E ratio of 43.43, a P/E/G ratio of 1.75 and a beta of 1.63. The business has a 50 day moving average price of $811.10 and a 200 day moving average price of $702.31.
Caterpillar Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 19th. Shareholders of record on Monday, April 20th were issued a $1.51 dividend. The ex-dividend date was Monday, April 20th. This represents a $6.04 annualized dividend and a yield of 0.7%. Caterpillar’s payout ratio is 30.06%.
Analysts Set New Price Targets
A number of research firms have recently issued reports on CAT. Oppenheimer set a $980.00 price target on shares of Caterpillar and gave the company an “outperform” rating in a research report on Friday, May 1st. Citigroup lifted their price target on shares of Caterpillar from $905.00 to $1,020.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Sanford C. Bernstein lifted their price target on shares of Caterpillar from $769.00 to $879.00 and gave the company a “market perform” rating in a research report on Friday, May 1st. Daiwa Securities Group lifted their price target on shares of Caterpillar from $790.00 to $900.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Finally, Rothschild & Co Redburn lifted their price target on shares of Caterpillar from $700.00 to $950.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Sixteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Caterpillar currently has a consensus rating of “Moderate Buy” and a consensus price target of $923.14.
Get Our Latest Stock Report on CAT
Insider Buying and Selling
In other Caterpillar news, insider Anthony D. Fassino sold 16,283 shares of the business’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $916.80, for a total value of $14,928,254.40. Following the completion of the transaction, the insider directly owned 46,041 shares in the company, valued at approximately $42,210,388.80. The trade was a 26.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Andrew R. J. Bonfield sold 15,674 shares of the business’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $918.71, for a total value of $14,399,860.54. Following the completion of the transaction, the chief financial officer owned 52,935 shares of the company’s stock, valued at $48,631,913.85. This trade represents a 22.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 98,273 shares of company stock worth $89,439,960 in the last three months. 0.33% of the stock is currently owned by insiders.
Caterpillar Profile
Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.
In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.
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