Sonora Investment Management Group LLC Increases Stock Position in Caterpillar Inc. (NYSE:CAT)

Sonora Investment Management Group LLC increased its holdings in Caterpillar Inc. (NYSE:CAT) by 16.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,451 shares of the industrial products company’s stock after buying an additional 2,654 shares during the period. Sonora Investment Management Group LLC’s holdings in Caterpillar were worth $6,085,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new stake in Caterpillar during the fourth quarter valued at approximately $2,184,364,000. GAMMA Investing LLC increased its position in shares of Caterpillar by 43,447.3% during the first quarter. GAMMA Investing LLC now owns 3,730,259 shares of the industrial products company’s stock worth $1,230,239,000 after purchasing an additional 3,721,693 shares in the last quarter. Capital Research Global Investors lifted its holdings in shares of Caterpillar by 69.3% during the 4th quarter. Capital Research Global Investors now owns 2,924,054 shares of the industrial products company’s stock valued at $1,060,730,000 after purchasing an additional 1,196,861 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Caterpillar in the 4th quarter worth $353,231,000. Finally, Proficio Capital Partners LLC grew its stake in Caterpillar by 50,072.7% during the 4th quarter. Proficio Capital Partners LLC now owns 804,770 shares of the industrial products company’s stock worth $291,938,000 after buying an additional 803,166 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Price Performance

Shares of NYSE CAT opened at $358.12 on Tuesday. 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 stock has a market capitalization of $168.69 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 1.87 and a beta of 1.37. The firm’s 50 day simple moving average is $321.20 and its 200-day simple moving average is $349.13. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $418.50.

Caterpillar (NYSE:CAT) last posted its earnings results on Wednesday, April 30th. The industrial products company reported $4.25 EPS for the quarter, missing analysts’ consensus estimates of $4.35 by ($0.10). The business had revenue of $14.25 billion for 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%. Caterpillar’s revenue was down 9.8% on a year-over-year basis. During the same quarter last year, the business earned $5.60 earnings per share. Analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Monday, April 21st were given a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend was Monday, April 21st. Caterpillar’s payout ratio is 27.49%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. lowered their price target on Caterpillar from $490.00 to $380.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Truist Financial reiterated a “buy” rating and issued a $396.00 target price (up from $389.00) on shares of Caterpillar in a research note on Thursday, May 1st. UBS Group upgraded shares of Caterpillar from a “sell” rating to a “neutral” rating and upped their price target for the company from $272.00 to $357.00 in a research note on Friday, May 16th. Evercore ISI lowered their price objective on shares of Caterpillar from $375.00 to $373.00 and set an “in-line” rating for the company in a research note on Monday, May 19th. Finally, DA Davidson raised their target price on Caterpillar from $325.00 to $331.00 and gave the stock a “neutral” rating in a research note on Monday, May 5th. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $372.92.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Director David Maclennan acquired 375 shares of the business’s stock in a transaction on Wednesday, May 7th. The stock was bought at an average price of $320.70 per share, for a total transaction of $120,262.50. Following the acquisition, the director now owns 6,653 shares in the company, valued at approximately $2,133,617.10. The trade was a 5.97% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 0.33% of the stock is currently 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.