PMG Wealth Management Inc. Acquires New Holdings in Caterpillar Inc. (NYSE:CAT)

PMG Wealth Management Inc. bought a new position in Caterpillar Inc. (NYSE:CAT) in the 4th quarter, HoldingsChannel reports. The fund bought 810 shares of the industrial products company’s stock, valued at approximately $294,000.

Several other large investors also recently made changes to their positions in the company. Nordea Investment Management AB lifted its holdings in Caterpillar by 1.6% in the fourth quarter. Nordea Investment Management AB now owns 635,750 shares of the industrial products company’s stock worth $231,686,000 after purchasing an additional 10,212 shares during the period. West Wealth Group LLC acquired a new stake in shares of Caterpillar in the 4th quarter worth approximately $230,000. Citizens Financial Group Inc. RI boosted its holdings 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 in the last quarter. Cadinha & Co. LLC acquired a new position in shares of Caterpillar during the fourth quarter valued at approximately $11,084,000. Finally, Atomi Financial Group Inc. raised its holdings 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 purchasing an additional 871 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. StockNews.com upgraded Caterpillar from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. DA Davidson lifted their target price on Caterpillar from $350.00 to $357.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Morgan Stanley cut their price target on shares of Caterpillar from $330.00 to $300.00 and set an “underweight” rating for the company in a report on Friday, January 31st. Bank of America lowered their price objective on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. cut their target price on shares of Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $383.80.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Anthony D. Fassino sold 6,279 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $408.59, for a total value of $2,565,536.61. Following the sale, the insider now owns 33,565 shares of the company’s stock, valued at $13,714,323.35. This trade represents a 15.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $380.09, for a total value of $3,800,900.00. Following the transaction, the chief financial officer now owns 45,182 shares of the company’s stock, valued at approximately $17,173,226.38. This trade represents a 18.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,704 shares of company stock worth $7,226,584 over the last three months. Corporate insiders own 0.29% of the company’s stock.

Caterpillar Price Performance

CAT opened at $339.84 on Friday. The firm has a market capitalization of $162.42 billion, a P/E ratio of 15.40, a PEG ratio of 1.89 and a beta of 1.12. The stock has a fifty day moving average of $369.54 and a 200-day moving average of $372.24. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. Caterpillar Inc. has a 12-month low of $307.05 and a 12-month high of $418.50.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $5.14 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%. Equities analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Tuesday, January 21st were paid a dividend of $1.41 per share. The ex-dividend date was Tuesday, January 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.66%. Caterpillar’s dividend payout ratio (DPR) is 25.56%.

Caterpillar Profile

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.