IronOak Wealth LLC. Buys New Shares in Caterpillar Inc. (NYSE:CAT)

IronOak Wealth LLC. bought a new stake in shares of Caterpillar Inc. (NYSE:CAT) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 5,565 shares of the industrial products company’s stock, valued at approximately $2,019,000. Caterpillar comprises about 2.3% of IronOak Wealth LLC.’s investment portfolio, making the stock its 15th largest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Caterpillar by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 46,809,540 shares of the industrial products company’s stock valued at $16,980,629,000 after purchasing an additional 284,366 shares in the last quarter. Geode Capital Management LLC lifted its position in Caterpillar by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 10,449,770 shares of the industrial products company’s stock valued at $3,790,841,000 after acquiring an additional 236,315 shares during the period. Fisher Asset Management LLC lifted its position in Caterpillar by 1.4% during the 4th quarter. Fisher Asset Management LLC now owns 9,081,775 shares of the industrial products company’s stock valued at $3,294,505,000 after acquiring an additional 129,143 shares during the period. Northern Trust Corp lifted its position in Caterpillar by 11.8% during the 4th quarter. Northern Trust Corp now owns 6,847,330 shares of the industrial products company’s stock valued at $2,483,937,000 after acquiring an additional 724,477 shares during the period. Finally, Norges Bank purchased a new position in Caterpillar during the 4th quarter valued at about $2,184,364,000. Institutional investors own 70.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CAT shares. Baird R W raised shares of Caterpillar from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 13th. Citigroup boosted their price objective on shares of Caterpillar from $320.00 to $370.00 and gave the company a “buy” rating in a report on Monday, May 5th. DA Davidson boosted their price objective on shares of Caterpillar from $325.00 to $331.00 and gave the company a “neutral” rating in a report on Monday, May 5th. JPMorgan Chase & Co. decreased their price objective on shares of Caterpillar from $490.00 to $380.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Finally, 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 report on Thursday, May 1st. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $375.33.

Caterpillar Stock Performance

CAT opened at $343.63 on Tuesday. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $418.50. The company has a 50 day simple moving average of $318.35 and a two-hundred day simple moving average of $351.79. 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 firm has a market cap of $161.86 billion, a P/E ratio of 15.57, a PEG ratio of 1.87 and a beta of 1.35.

Caterpillar (NYSE:CAT) last released its 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 return on equity of 58.18% and a net margin of 16.65%. The company had revenue of $14.25 billion during the quarter, compared to analysts’ expectations of $14.64 billion. During the same period last year, the firm posted $5.60 EPS. Caterpillar’s quarterly revenue was down 9.8% compared to the same quarter last year. Equities analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Monday, April 21st were issued a $1.41 dividend. This represents a $5.64 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend was Monday, April 21st. Caterpillar’s dividend payout ratio (DPR) is presently 27.49%.

Insider Activity at Caterpillar

In other Caterpillar news, Director David Maclennan purchased 375 shares of the firm’s stock in a transaction that occurred on Wednesday, May 7th. The shares were bought 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 directly owns 6,653 shares in the company, 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 SEC, which is available through the SEC website. 0.33% of the stock is owned by insiders.

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.