New Mexico Educational Retirement Board lifted its position in Caterpillar Inc. (NYSE:CAT – Free Report) by 3.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,902 shares of the industrial products company’s stock after purchasing an additional 700 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Caterpillar were worth $12,547,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the stock. Pacific Point Advisors LLC bought a new stake in Caterpillar in the fourth quarter valued at approximately $579,000. Brighton Jones LLC raised its stake in shares of Caterpillar by 51.5% during the fourth quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company’s stock valued at $2,688,000 after acquiring an additional 2,519 shares during the last quarter. United Bank raised its stake in shares of Caterpillar by 108.5% during the second quarter. United Bank now owns 4,083 shares of the industrial products company’s stock valued at $1,585,000 after acquiring an additional 2,125 shares during the last quarter. Schnieders Capital Management LLC. increased its holdings in Caterpillar by 3.9% during the 2nd quarter. Schnieders Capital Management LLC. now owns 9,147 shares of the industrial products company’s stock valued at $3,551,000 after purchasing an additional 347 shares during the period. Finally, Alliancebernstein L.P. increased its holdings in Caterpillar by 6.5% during the 2nd quarter. Alliancebernstein L.P. now owns 572,165 shares of the industrial products company’s stock valued at $222,120,000 after purchasing an additional 34,846 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.
Caterpillar Stock Performance
Shares of Caterpillar stock opened at $872.61 on Monday. The company has a current ratio of 1.35, a quick ratio of 0.81 and a debt-to-equity ratio of 1.64. The firm has a market capitalization of $401.91 billion, a P/E ratio of 43.43, a P/E/G ratio of 1.73 and a beta of 1.59. The business has a fifty day simple moving average of $811.10 and a two-hundred day simple moving average of $703.24. Caterpillar Inc. has a 12 month low of $339.50 and a 12 month high of $931.35.
Caterpillar Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, May 19th. Investors of record on Monday, April 20th were paid a $1.51 dividend. The ex-dividend date was Monday, April 20th. This represents a $6.04 annualized dividend and a dividend yield of 0.7%. Caterpillar’s dividend payout ratio is presently 30.06%.
Insider Buying and Selling
In related news, CAO William E. Schaupp sold 360 shares of the company’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $906.00, for a total value of $326,160.00. Following the transaction, the chief accounting officer owned 530 shares in the company, valued at $480,180. The trade was a 40.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Andrew R. J. Bonfield sold 15,674 shares of the company’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $918.71, for a total transaction of $14,399,860.54. Following the completion of the transaction, the chief financial officer owned 52,935 shares in the company, valued at approximately $48,631,913.85. The trade was a 22.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 98,273 shares of company stock worth $89,439,960 over the last three months. Corporate insiders own 0.33% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on CAT shares. Daiwa Securities Group boosted their price target on Caterpillar from $790.00 to $900.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Argus upped their target price on Caterpillar from $820.00 to $990.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Morgan Stanley set a $915.00 target price on Caterpillar and gave the company an “equal weight” rating in a report on Friday, May 1st. Weiss Ratings reissued a “buy (b-)” rating on shares of Caterpillar in a research report on Friday, May 8th. Finally, Wall Street Zen raised shares of Caterpillar from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Sixteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $923.14.
Check Out Our Latest Report on Caterpillar
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.
Featured Stories
- Five stocks we like better than Caterpillar
- These 3 CLO ETFs Target a Niche Corner of the Fixed-Income Market
- 3 Ways to Play the Data Center Land Grab
- The Smarter Way to Invest in AI Without Taking Extreme Risk
- 3 Dividend Kings That Earn Their Crown Every Quarter
Receive News & Ratings for Caterpillar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar and related companies with MarketBeat.com's FREE daily email newsletter.
