Zhang Financial LLC Has $1.95 Million Position in Caterpillar Inc. (NYSE:CAT)

Zhang Financial LLC grew its holdings in Caterpillar Inc. (NYSE:CAT) by 7.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,593 shares of the industrial products company’s stock after purchasing an additional 456 shares during the quarter. Zhang Financial LLC’s holdings in Caterpillar were worth $1,949,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Atlas Capital Advisors LLC increased its position in Caterpillar by 272.4% in the 1st quarter. Atlas Capital Advisors LLC now owns 108 shares of the industrial products company’s stock valued at $25,000 after buying an additional 79 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in Caterpillar by 730.8% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 108 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 95 shares in the last quarter. Gilfoyle & Co LLC bought a new stake in Caterpillar during the 4th quarter worth approximately $30,000. A.P. Gilfoyle & Co. L.P. bought a new stake in Caterpillar during the 4th quarter worth approximately $30,000. Finally, First Capital Advisors Group LLC. bought a new stake in Caterpillar during the 2nd quarter worth approximately $30,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Price Performance

Shares of Caterpillar stock traded down $2.36 during trading on Friday, hitting $354.27. The stock had a trading volume of 1,624,312 shares, compared to its average volume of 2,422,820. The firm has a market cap of $176.92 billion, a price-to-earnings ratio of 17.77, a P/E/G ratio of 1.59 and a beta of 1.17. Caterpillar Inc. has a 12 month low of $204.04 and a 12 month high of $382.01. The business’s 50-day moving average is $345.95 and its 200 day moving average is $297.21. The company has a current ratio of 1.35, a quick ratio of 0.87 and a debt-to-equity ratio of 1.25.

Caterpillar (NYSE:CAT) last released its earnings results on Monday, February 5th. The industrial products company reported $5.23 EPS for the quarter, beating analysts’ consensus estimates of $4.76 by $0.47. The business had revenue of $17.07 billion for the quarter, compared to analysts’ expectations of $17.06 billion. Caterpillar had a return on equity of 56.99% and a net margin of 15.41%. The firm’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.86 earnings per share. As a group, sell-side analysts anticipate that Caterpillar Inc. will post 21.4 earnings per share for the current year.

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, April 22nd will be paid a $1.30 dividend. The ex-dividend date is Friday, April 19th. This represents a $5.20 dividend on an annualized basis and a yield of 1.47%. Caterpillar’s dividend payout ratio is presently 25.82%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CAT. TD Cowen boosted their price objective on Caterpillar from $300.00 to $338.00 and gave the stock an “outperform” rating in a report on Tuesday, February 6th. Truist Financial initiated coverage on Caterpillar in a research note on Thursday, March 14th. They issued a “buy” rating and a $390.00 target price on the stock. Morgan Stanley initiated coverage on Caterpillar in a research note on Monday, January 8th. They issued an “equal weight” rating and a $270.00 target price on the stock. Citigroup boosted their target price on Caterpillar from $255.00 to $340.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. Finally, StockNews.com downgraded Caterpillar from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 20th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $307.56.

Insider Activity at Caterpillar

In other news, insider Anthony D. Fassino sold 4,575 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $329.80, for a total transaction of $1,508,835.00. Following the transaction, the insider now directly owns 23,474 shares of the company’s stock, valued at $7,741,725.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Anthony D. Fassino sold 4,575 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $329.80, for a total transaction of $1,508,835.00. Following the transaction, the insider now directly owns 23,474 shares of the company’s stock, valued at $7,741,725.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Lange Bob De sold 21,194 shares of the stock in a transaction dated 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 sale, the insider now owns 61,092 shares of the company’s stock, valued at $19,886,667.84. The disclosure for this sale can be found here. Insiders have sold a total of 45,769 shares of company stock valued at $14,509,306 over the last 90 days. 0.33% of the stock is owned by insiders.

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.