Caterpillar Inc. (NYSE:CAT) Stake Lifted by Addison Advisors LLC

Addison Advisors LLC raised its stake in Caterpillar Inc. (NYSE:CAT) by 28.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,052 shares of the industrial products company’s stock after buying an additional 457 shares during the quarter. Addison Advisors LLC’s holdings in Caterpillar were worth $607,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Gilfoyle & Co LLC bought a new position in Caterpillar in the 4th quarter worth approximately $30,000. Fortitude Family Office LLC bought a new position in shares of Caterpillar in the fourth quarter worth $39,000. Authentikos Wealth Advisory LLC acquired a new position in shares of Caterpillar during the third quarter valued at $41,000. Rational Advisors LLC bought a new stake in shares of Caterpillar during the third quarter valued at about $42,000. Finally, Milestone Investment Advisors LLC acquired a new stake in Caterpillar in the third quarter worth about $44,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Trading Up 1.6 %

Shares of Caterpillar stock traded up $5.38 during trading on Friday, hitting $343.38. The stock had a trading volume of 3,324,630 shares, compared to its average volume of 2,414,735. Caterpillar Inc. has a 1 year low of $204.04 and a 1 year high of $382.01. The stock has a 50 day simple moving average of $350.10 and a 200 day simple moving average of $300.99. The company has a quick ratio of 0.87, a current ratio of 1.35 and a debt-to-equity ratio of 1.41. The company has a market capitalization of $171.48 billion, a PE ratio of 15.50, a P/E/G ratio of 1.53 and a beta of 1.17.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Thursday, April 25th. The industrial products company reported $5.60 earnings per share for the quarter, topping the consensus estimate of $5.12 by $0.48. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. The firm had revenue of $15.80 billion for the quarter, compared to analysts’ expectations of $16.07 billion. On average, research analysts expect that Caterpillar Inc. will post 21.44 EPS for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, April 22nd will be issued a $1.30 dividend. The ex-dividend date is Friday, April 19th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 1.51%. Caterpillar’s dividend payout ratio is 23.48%.

Analysts Set New Price Targets

CAT has been the topic of a number of recent analyst reports. TD Cowen boosted their price target on shares of Caterpillar from $338.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday. Robert W. Baird boosted their target price on Caterpillar from $210.00 to $257.00 and gave the stock an “underperform” rating in a report on Tuesday, February 6th. Citigroup increased their price target on Caterpillar from $255.00 to $340.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. Truist Financial initiated coverage on Caterpillar in a report on Thursday, March 14th. They issued a “buy” rating and a $390.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their target price on Caterpillar from $385.00 to $435.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $310.83.

Insider Transactions at Caterpillar

In related news, insider Lange Bob De sold 21,194 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $325.52, for a total transaction of $6,899,070.88. Following the transaction, the insider now directly owns 61,092 shares of the company’s stock, valued at $19,886,667.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Lange Bob De sold 21,194 shares of Caterpillar stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $325.52, for a total transaction of $6,899,070.88. Following the completion of the sale, the insider now owns 61,092 shares of the company’s stock, valued at $19,886,667.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director David Maclennan bought 350 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was purchased at an average cost of $323.37 per share, for a total transaction of $113,179.50. Following the completion of the transaction, the director now owns 5,238 shares in the company, valued at $1,693,812.06. The disclosure for this purchase can be found here. Insiders sold 35,769 shares of company stock valued at $11,508,906 over the last three months. 0.33% of the stock is owned by corporate insiders.

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.