Phoenix Financial Ltd. Buys 3,958 Shares of Caterpillar Inc. $CAT

Phoenix Financial Ltd. lifted its position in Caterpillar Inc. (NYSE:CAT) by 49.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 11,997 shares of the industrial products company’s stock after purchasing an additional 3,958 shares during the period. Phoenix Financial Ltd.’s holdings in Caterpillar were worth $5,724,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Yarger Wealth Strategies LLC lifted its stake in Caterpillar by 3.3% in the third quarter. Yarger Wealth Strategies LLC now owns 649 shares of the industrial products company’s stock worth $310,000 after acquiring an additional 21 shares during the period. Stonegate Investment Group LLC lifted its position in Caterpillar by 125.2% during the 3rd quarter. Stonegate Investment Group LLC now owns 22,510 shares of the industrial products company’s stock valued at $10,741,000 after acquiring an additional 12,513 shares during the period. Paragon Private Wealth Management LLC grew its stake in shares of Caterpillar by 22.0% in the 3rd quarter. Paragon Private Wealth Management LLC now owns 903 shares of the industrial products company’s stock worth $431,000 after buying an additional 163 shares during the last quarter. KPP Advisory Services LLC grew its stake in shares of Caterpillar by 1.3% in the third quarter. KPP Advisory Services LLC now owns 2,288 shares of the industrial products company’s stock worth $1,092,000 after acquiring an additional 30 shares during the last quarter. Finally, Belpointe Asset Management LLC grew its position in Caterpillar by 15.6% during the 3rd quarter. Belpointe Asset Management LLC now owns 2,794 shares of the industrial products company’s stock valued at $1,333,000 after purchasing an additional 378 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

CAT has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on Caterpillar from $730.00 to $740.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. Morgan Stanley increased their target price on shares of Caterpillar from $395.00 to $400.00 and gave the stock an “underweight” rating in a report on Friday. Sanford C. Bernstein upped their price objective on Caterpillar from $557.00 to $630.00 and gave the stock a “market perform” rating in a research note on Friday, December 19th. Hsbc Global Res upgraded shares of Caterpillar from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. Finally, Argus raised their price target on Caterpillar from $460.00 to $625.00 and gave the company a “buy” rating in a report on Wednesday, November 19th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $637.70.

Caterpillar Stock Performance

Shares of Caterpillar stock opened at $636.63 on Tuesday. The stock’s fifty day moving average is $596.16 and its two-hundred day moving average is $513.74. The company has a quick ratio of 0.86, a current ratio of 1.38 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $297.93 billion, a PE ratio of 32.68, a price-to-earnings-growth ratio of 2.42 and a beta of 1.57. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $655.78.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Monday, November 3rd. The industrial products company reported $4.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.52 by $0.43. The company had revenue of $17.64 billion during the quarter, compared to analysts’ expectations of $16.72 billion. Caterpillar had a net margin of 14.34% and a return on equity of 47.16%. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the company earned $5.17 EPS. As a group, analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 19th. Stockholders of record on Tuesday, January 20th will be paid a dividend of $1.51 per share. The ex-dividend date is Tuesday, January 20th. This represents a $6.04 annualized dividend and a dividend yield of 0.9%. Caterpillar’s dividend payout ratio (DPR) is currently 31.01%.

Insiders Place Their Bets

In other Caterpillar news, Director David Maclennan purchased 300 shares of the stock in a transaction dated Thursday, November 6th. The stock was purchased at an average price of $568.86 per share, with a total value of $170,658.00. Following the transaction, the director owned 7,947 shares of the company’s stock, valued at approximately $4,520,730.42. This trade represents a 3.92% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 31st. The stock was sold at an average price of $575.06, for a total transaction of $5,750,600.00. Following the completion of the transaction, the chief financial officer directly owned 45,460 shares of the company’s stock, valued at $26,142,227.60. This trade represents a 18.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 54,729 shares of company stock worth $31,084,308. 0.33% of the stock is owned by corporate insiders.

Caterpillar Company Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.