Investor s Fiduciary Advisor Network LLC Invests $3.70 Million in Caterpillar Inc. (NYSE:CAT)

Investor s Fiduciary Advisor Network LLC bought a new stake in shares of Caterpillar Inc. (NYSE:CAT) during the fourth quarter, HoldingsChannel reports. The fund bought 10,205 shares of the industrial products company’s stock, valued at approximately $3,701,000. Caterpillar makes up about 1.4% of Investor s Fiduciary Advisor Network LLC’s holdings, making the stock its 11th largest holding.

Other hedge funds also recently bought and sold shares of the company. FSM Wealth Advisors LLC lifted its holdings in Caterpillar by 3.8% during the 4th quarter. FSM Wealth Advisors LLC now owns 688 shares of the industrial products company’s stock worth $262,000 after buying an additional 25 shares in the last quarter. Allen Capital Group LLC raised its position in shares of Caterpillar by 0.6% during the fourth quarter. Allen Capital Group LLC now owns 4,247 shares of the industrial products company’s stock worth $1,541,000 after acquiring an additional 26 shares during the last quarter. Wagner Wealth Management LLC boosted its holdings in Caterpillar by 4.0% in the fourth quarter. Wagner Wealth Management LLC now owns 668 shares of the industrial products company’s stock valued at $242,000 after acquiring an additional 26 shares during the last quarter. Channel Wealth LLC increased its position in Caterpillar by 1.9% in the fourth quarter. Channel Wealth LLC now owns 1,468 shares of the industrial products company’s stock worth $533,000 after purchasing an additional 27 shares during the period. Finally, Total Clarity Wealth Management Inc. raised its holdings in Caterpillar by 0.6% during the 4th quarter. Total Clarity Wealth Management Inc. now owns 4,373 shares of the industrial products company’s stock worth $1,586,000 after purchasing an additional 27 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CAT shares. Morgan Stanley upgraded shares of Caterpillar from an “underweight” rating to an “equal weight” rating and lowered their price target for the stock from $300.00 to $283.00 in a research report on Wednesday, April 16th. Oppenheimer upgraded shares of Caterpillar from a “market perform” rating to an “outperform” rating and set a $395.00 target price for the company in a research report on Thursday, May 1st. Bank of America decreased their price objective on Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Truist Financial reaffirmed a “buy” rating and issued a $396.00 price target (up from $389.00) on shares of Caterpillar in a research note on Thursday, May 1st. Finally, Evercore ISI lifted their price objective on shares of Caterpillar from $365.00 to $375.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $370.67.

Insiders Place Their Bets

In related news, Director David Maclennan bought 375 shares of the company’s stock in a transaction that occurred on Wednesday, May 7th. The shares were acquired at an average price of $320.70 per share, for a total transaction of $120,262.50. Following the completion of the acquisition, the director now owns 6,653 shares of the company’s stock, valued at approximately $2,133,617.10. The trade was a 5.97 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jason Kaiser sold 2,425 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total value of $860,147.50. Following the completion of the transaction, the insider now owns 6,275 shares of the company’s stock, valued at approximately $2,225,742.50. This represents a 27.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

Caterpillar Price Performance

CAT stock opened at $325.47 on Friday. The stock has a market cap of $153.31 billion, a PE ratio of 14.75, a price-to-earnings-growth ratio of 1.87 and a beta of 1.35. The stock has a 50-day moving average price of $316.76 and a two-hundred day moving average price of $355.18. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $418.50. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40.

Caterpillar (NYSE:CAT) last announced its earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.35 by ($0.10). The firm had revenue of $14.25 billion during the quarter, compared to analyst estimates of $14.64 billion. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. The firm’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same period in the prior year, the business posted $5.60 EPS. Equities analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Monday, April 21st will be paid a $1.41 dividend. The ex-dividend date is Monday, April 21st. This represents a $5.64 annualized dividend and a yield of 1.73%. Caterpillar’s payout ratio is currently 27.49%.

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.