10Elms LLP Acquires Shares of 852 Caterpillar Inc. (NYSE:CAT)

10Elms LLP bought a new position in Caterpillar Inc. (NYSE:CAT) in the fourth quarter, HoldingsChannel reports. The firm bought 852 shares of the industrial products company’s stock, valued at approximately $309,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Flagship Wealth Advisors LLC purchased a new stake in shares of Caterpillar in the fourth quarter valued at $26,000. Halbert Hargrove Global Advisors LLC purchased a new stake in Caterpillar in the 4th quarter worth about $27,000. Cyrus J. Lawrence LLC bought a new stake in Caterpillar in the fourth quarter worth about $27,000. Noble Wealth Management PBC purchased a new position in shares of Caterpillar during the fourth quarter valued at approximately $31,000. Finally, Quarry LP purchased a new stake in shares of Caterpillar in the fourth quarter worth approximately $35,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Evercore ISI cut their price objective on Caterpillar from $375.00 to $373.00 and set an “in-line” rating on the stock in a research report on Monday. Truist Financial reaffirmed a “buy” rating and issued a $396.00 price target (up previously from $389.00) on shares of Caterpillar in a research note on Thursday, May 1st. JPMorgan Chase & Co. lowered their price objective on shares of Caterpillar from $490.00 to $380.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. StockNews.com lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Finally, Raymond James upgraded Caterpillar from a “market perform” rating to an “outperform” rating in a report on Monday, February 3rd. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $375.33.

Insider Transactions at Caterpillar

In related news, Director David Maclennan acquired 375 shares of the business’s stock in a transaction dated Wednesday, May 7th. The shares were purchased 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 directly owns 6,653 shares in the company, valued at $2,133,617.10. The trade was a 5.97% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.33% of the company’s stock.

Caterpillar Trading Down 1.0%

CAT opened at $349.01 on Wednesday. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40. The firm has a market cap of $164.40 billion, a price-to-earnings ratio of 15.81, a PEG ratio of 1.87 and a beta of 1.35. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $418.50. The stock has a fifty day moving average price of $318.02 and a 200-day moving average price of $353.54.

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

Caterpillar Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Monday, April 21st were issued a $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend was Monday, April 21st. Caterpillar’s dividend payout ratio is currently 27.49%.

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.