LGT Group Foundation Raises Position in Caterpillar Inc. (NYSE:CAT)

LGT Group Foundation increased its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 17.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,850 shares of the industrial products company’s stock after buying an additional 1,000 shares during the quarter. LGT Group Foundation’s holdings in Caterpillar were worth $2,034,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Wilbanks Smith & Thomas Asset Management LLC increased its holdings in shares of Caterpillar by 0.5% during the fourth quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 104,384 shares of the industrial products company’s stock valued at $30,863,000 after acquiring an additional 501 shares in the last quarter. Rogco LP grew its position in Caterpillar by 2.8% during the 4th quarter. Rogco LP now owns 2,998 shares of the industrial products company’s stock worth $886,000 after purchasing an additional 81 shares during the last quarter. Tower View Wealth Management LLC increased its stake in Caterpillar by 5.8% during the 4th quarter. Tower View Wealth Management LLC now owns 14,951 shares of the industrial products company’s stock valued at $4,420,000 after purchasing an additional 817 shares in the last quarter. McIlrath & Eck LLC raised its holdings in shares of Caterpillar by 4.4% in the fourth quarter. McIlrath & Eck LLC now owns 789 shares of the industrial products company’s stock worth $233,000 after buying an additional 33 shares during the last quarter. Finally, First Trust Direct Indexing L.P. grew its holdings in shares of Caterpillar by 16.7% during the fourth quarter. First Trust Direct Indexing L.P. now owns 13,455 shares of the industrial products company’s stock valued at $3,978,000 after buying an additional 1,930 shares during the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Trading Up 0.4 %

Shares of CAT opened at $336.86 on Friday. Caterpillar Inc. has a 52-week low of $205.60 and a 52-week high of $382.01. The stock has a market cap of $164.74 billion, a PE ratio of 15.21, a price-to-earnings-growth ratio of 1.43 and a beta of 1.19. The firm’s fifty day moving average is $351.89 and its two-hundred day moving average is $303.11. The company has a quick ratio of 0.83, a current ratio of 1.35 and a debt-to-equity ratio of 1.41.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Thursday, April 25th. The industrial products company reported $5.60 earnings per share (EPS) for the quarter, beating 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 company had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $16.07 billion. Research analysts forecast that Caterpillar Inc. will post 21.79 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, April 22nd will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend is Friday, April 19th. Caterpillar’s dividend payout ratio (DPR) is currently 23.48%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CAT. Stifel Nicolaus cut Caterpillar from a “buy” rating to a “hold” rating and lifted their price target for the stock from $293.00 to $350.00 in a research report on Friday, April 26th. JPMorgan Chase & Co. upped their target price on Caterpillar from $385.00 to $435.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. Truist Financial began coverage on shares of Caterpillar in a research report on Thursday, March 14th. They set a “buy” rating and a $390.00 price target for the company. Robert W. Baird increased their price objective on shares of Caterpillar from $210.00 to $257.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 6th. Finally, Evercore ISI downgraded shares of Caterpillar from an “outperform” rating to an “in-line” rating and boosted their target price for the company from $321.00 to $338.00 in a research report on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $323.35.

Insider Buying and Selling at Caterpillar

In other 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 transaction, the insider now owns 61,092 shares in the company, valued at approximately $19,886,667.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Caterpillar news, Director David Maclennan bought 350 shares of Caterpillar stock in a transaction on Friday, February 23rd. The shares were bought at an average price of $323.37 per share, for a total transaction of $113,179.50. Following the completion of the transaction, the director now directly owns 5,238 shares of the company’s stock, valued at $1,693,812.06. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Lange Bob De sold 21,194 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $325.52, for a total value of $6,899,070.88. Following the transaction, 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. 0.33% of the stock is owned by company insiders.

Caterpillar Company 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.