Harel Insurance Investments & Financial Services Ltd. increased its position in shares of Caterpillar Inc. (NYSE:CAT – Free Report) by 39,253.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,135 shares of the industrial products company’s stock after buying an additional 16,094 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in Caterpillar were worth $11,431,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Axxcess Wealth Management LLC raised its position in Caterpillar by 2.8% in the fourth quarter. Axxcess Wealth Management LLC now owns 22,420 shares of the industrial products company’s stock valued at $12,844,000 after purchasing an additional 604 shares during the period. Juno Financial Group LLC purchased a new position in shares of Caterpillar in the 4th quarter valued at about $877,000. DSG Capital Advisors LLC acquired a new position in Caterpillar during the 1st quarter worth approximately $1,226,000. Cornerstone Planning LLC acquired a new position in shares of Caterpillar during the fourth quarter worth $4,517,000. Finally, Ticino Wealth acquired a new position in shares of Caterpillar during the 4th quarter worth about $2,488,000. 70.98% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities analysts have issued reports on CAT shares. Truist Financial raised their price objective on Caterpillar from $1,043.00 to $1,218.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. JPMorgan Chase & Co. lifted their price objective on shares of Caterpillar from $1,125.00 to $1,165.00 and gave the company an “overweight” rating in a research report on Wednesday, June 17th. Rothschild & Co Redburn boosted their target price on Caterpillar from $700.00 to $950.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. DA Davidson upped their price target on shares of Caterpillar from $650.00 to $845.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Finally, Morgan Stanley set a $915.00 price target on Caterpillar and gave the stock an “equal weight” rating in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, Caterpillar has an average rating of “Moderate Buy” and a consensus price target of $980.57.
Insider Activity
In other Caterpillar news, CFO Andrew R. J. Bonfield sold 15,674 shares of Caterpillar stock in a transaction that occurred on 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 sale, the chief financial officer directly owned 52,935 shares in the company, valued at $48,631,913.85. The trade was a 22.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Denise C. Johnson sold 12,605 shares of Caterpillar stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $907.91, for a total transaction of $11,444,205.55. Following the completion of the sale, the insider owned 49,825 shares of the company’s stock, valued at approximately $45,236,615.75. This trade represents a 20.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 95,773 shares of company stock worth $87,642,635 over the last quarter. Corporate insiders own 0.33% of the company’s stock.
Caterpillar Stock Performance
Caterpillar stock opened at $914.19 on Thursday. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 0.81. The company has a market cap of $421.07 billion, a price-to-earnings ratio of 45.50, a price-to-earnings-growth ratio of 1.83 and a beta of 1.57. The stock’s 50-day moving average is $931.98 and its 200-day moving average is $790.77. Caterpillar Inc. has a 12 month low of $403.32 and a 12 month high of $1,073.46.
Caterpillar (NYSE:CAT – Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The industrial products company reported $5.54 earnings per share for the quarter, topping analysts’ consensus estimates of $4.65 by $0.89. Caterpillar had a net margin of 13.33% and a return on equity of 48.21%. The firm had revenue of $17.41 billion during the quarter, compared to analysts’ expectations of $16.53 billion. During the same period in the prior year, the company earned $4.25 EPS. The firm’s revenue was up 22.2% on a year-over-year basis. Equities analysts anticipate that Caterpillar Inc. will post 24.85 earnings per share for the current year.
Caterpillar Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Monday, July 20th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 0.7%. This is a boost from Caterpillar’s previous quarterly dividend of $1.51. The ex-dividend date is Monday, July 20th. Caterpillar’s payout ratio is currently 30.06%.
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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