PCG Asset Management LLC Buys New Stake in Caterpillar Inc. (NYSE:CAT)

PCG Asset Management LLC bought a new position in shares of Caterpillar Inc. (NYSE:CAT) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 840 shares of the industrial products company’s stock, valued at approximately $305,000.

Other hedge funds also recently bought and sold shares of the company. Nordea Investment Management AB boosted its stake in Caterpillar by 1.6% during the 4th quarter. Nordea Investment Management AB now owns 635,750 shares of the industrial products company’s stock valued at $231,686,000 after purchasing an additional 10,212 shares during the period. West Wealth Group LLC acquired a new position in shares of Caterpillar during the fourth quarter worth approximately $230,000. Citizens Financial Group Inc. RI boosted its position in shares of Caterpillar by 43.0% in the third quarter. Citizens Financial Group Inc. RI now owns 13,902 shares of the industrial products company’s stock valued at $5,437,000 after acquiring an additional 4,181 shares during the period. Cadinha & Co. LLC acquired a new stake in shares of Caterpillar in the fourth quarter worth $11,084,000. Finally, Atomi Financial Group Inc. increased its position in Caterpillar by 3.9% during the fourth quarter. Atomi Financial Group Inc. now owns 23,193 shares of the industrial products company’s stock worth $8,414,000 after acquiring an additional 871 shares during the period. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Trading Up 1.1 %

Shares of Caterpillar stock opened at $343.90 on Friday. The stock has a market capitalization of $164.36 billion, a P/E ratio of 15.58, a price-to-earnings-growth ratio of 1.87 and a beta of 1.12. Caterpillar Inc. has a 12-month low of $307.05 and a 12-month high of $418.50. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. The company has a 50-day simple moving average of $365.99 and a 200 day simple moving average of $372.95.

Caterpillar (NYSE:CAT) last posted its earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. Research analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Tuesday, January 21st were issued a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a dividend yield of 1.64%. The ex-dividend date was Tuesday, January 21st. Caterpillar’s payout ratio is presently 25.56%.

Insider Activity

In other news, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the sale, the chief financial officer now directly owns 45,182 shares of the company’s stock, valued at $17,173,226.38. This represents a 18.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gerald Johnson acquired 100 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was bought at an average price of $398.57 per share, with a total value of $39,857.00. Following the transaction, the director now directly owns 2,953 shares in the company, valued at $1,176,977.21. The trade was a 3.51 % 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 corporate insiders.

Analysts Set New Price Targets

Several research firms have issued reports on CAT. DA Davidson raised their price target on shares of Caterpillar from $350.00 to $357.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Truist Financial decreased their target price on Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Jefferies Financial Group upped their price target on Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a report on Friday, December 6th. Evercore ISI lifted their price objective on Caterpillar from $365.00 to $375.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. cut their target price on Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $383.80.

About Caterpillar

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.