Ameriflex Group Inc. Takes Position in Caterpillar Inc. (NYSE:CAT)

Ameriflex Group Inc. bought a new position in Caterpillar Inc. (NYSE:CAT) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 3,443 shares of the industrial products company’s stock, valued at approximately $1,279,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FSM Wealth Advisors LLC lifted its stake in Caterpillar by 3.8% in the fourth quarter. FSM Wealth Advisors LLC now owns 688 shares of the industrial products company’s stock worth $262,000 after purchasing an additional 25 shares during the last quarter. Allen Capital Group LLC lifted its stake in Caterpillar by 0.6% in the fourth quarter. Allen Capital Group LLC now owns 4,247 shares of the industrial products company’s stock worth $1,541,000 after purchasing an additional 26 shares during the last quarter. Wagner Wealth Management LLC lifted its stake in Caterpillar by 4.0% in the fourth quarter. Wagner Wealth Management LLC now owns 668 shares of the industrial products company’s stock worth $242,000 after purchasing an additional 26 shares during the last quarter. Total Clarity Wealth Management Inc. lifted its stake in Caterpillar by 0.6% in the fourth 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. Finally, Magnolia Capital Advisors LLC raised its stake in shares of Caterpillar by 3.3% during the fourth quarter. Magnolia Capital Advisors LLC now owns 857 shares of the industrial products company’s stock valued at $311,000 after acquiring an additional 27 shares during the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Director David Maclennan bought 375 shares of the firm’s stock in a transaction on Wednesday, May 7th. The stock was acquired at an average price of $320.70 per share, with a total value of $120,262.50. Following the completion of the purchase, the director now owns 6,653 shares of the company’s stock, valued at approximately $2,133,617.10. This trade represents a 5.97% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Wall Street Zen downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Oppenheimer raised shares of Caterpillar from a “market perform” rating to an “outperform” rating and set a $395.00 price objective for the company in a research note on Thursday, May 1st. Truist Financial reaffirmed a “buy” rating and set a $396.00 price objective (up from $389.00) on shares of Caterpillar in a research note on Thursday, May 1st. Wedbush raised shares of Caterpillar to an “outperform” rating in a research note on Monday, February 3rd. Finally, DA Davidson upped their price objective on shares of Caterpillar from $325.00 to $331.00 and gave the company a “neutral” rating in a research note on Monday, May 5th. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Caterpillar has a consensus rating of “Moderate Buy” and an average price target of $375.33.

Caterpillar Price Performance

Shares of NYSE CAT opened at $343.63 on Friday. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $418.50. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. The company’s 50-day moving average is $318.25 and its 200 day moving average is $352.53. The stock has a market capitalization of $161.86 billion, a P/E ratio of 15.57, a P/E/G ratio of 1.87 and a beta of 1.35.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (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 company had revenue of $14.25 billion for the quarter, compared to analysts’ expectations of $14.64 billion. During the same quarter in the prior year, the firm earned $5.60 EPS. Caterpillar’s quarterly revenue was down 9.8% compared to the same quarter last year. On average, sell-side analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Monday, April 21st were paid a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date was Monday, April 21st. Caterpillar’s dividend payout ratio is 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.