Fidelity D & D Bancorp Inc. Raises Stake in Caterpillar Inc. (NYSE:CAT)

Fidelity D & D Bancorp Inc. boosted its stake in Caterpillar Inc. (NYSE:CAT) by 29.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 743 shares of the industrial products company’s stock after purchasing an additional 167 shares during the quarter. Fidelity D & D Bancorp Inc.’s holdings in Caterpillar were worth $270,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Brucke Financial Inc. acquired a new position in shares of Caterpillar during the fourth quarter worth $1,173,000. Jefferies Financial Group Inc. increased its stake in Caterpillar by 0.8% during the fourth quarter. Jefferies Financial Group Inc. now owns 24,628 shares of the industrial products company’s stock valued at $8,934,000 after purchasing an additional 202 shares during the last quarter. Landaas & Co. WI ADV increased its stake in Caterpillar by 13.3% during the fourth quarter. Landaas & Co. WI ADV now owns 1,470 shares of the industrial products company’s stock valued at $533,000 after purchasing an additional 172 shares during the last quarter. Bernard Wealth Management Corp. bought a new position in shares of Caterpillar during the fourth quarter worth about $3,024,000. Finally, Yoffe Investment Management LLC bought a new position in shares of Caterpillar during the fourth quarter worth about $957,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CAT has been the subject of a number of research analyst reports. Oppenheimer raised shares of Caterpillar from a “market perform” rating to an “outperform” rating and set a $395.00 price target for the company in a report on Thursday, May 1st. UBS Group upgraded Caterpillar from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $272.00 to $357.00 in a report on Friday, May 16th. Raymond James raised Caterpillar from a “market perform” rating to an “outperform” rating in a research report on Monday, February 3rd. Truist Financial reiterated 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. Finally, Baird R W upgraded Caterpillar from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 13th. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $375.33.

Insiders Place Their Bets

In other news, Director David Maclennan acquired 375 shares of the business’s stock in a transaction dated Wednesday, May 7th. The stock was purchased at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the acquisition, the director now owns 6,653 shares of the company’s stock, valued at $2,133,617.10. This trade represents a 5.97% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Stock Performance

Shares of Caterpillar stock opened at $343.63 on Monday. The business’s fifty day simple moving average is $318.25 and its 200 day simple moving average is $352.14. The firm has a market capitalization of $161.86 billion, a P/E ratio of 15.57, a price-to-earnings-growth 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 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 issued its 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). The firm had revenue of $14.25 billion during the quarter, compared to the consensus estimate of $14.64 billion. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. The business’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.60 earnings per share. As a group, analysts anticipate that Caterpillar Inc. will post 19.86 EPS 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 $1.41 dividend. The ex-dividend date was Monday, April 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.64%. Caterpillar’s dividend payout ratio is currently 27.49%.

About Caterpillar

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.