MetLife Investment Management LLC Raises Stock Holdings in Caterpillar Inc. (NYSE:CAT)

MetLife Investment Management LLC boosted its holdings in Caterpillar Inc. (NYSE:CAT) by 1.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 130,962 shares of the industrial products company’s stock after purchasing an additional 1,640 shares during the period. MetLife Investment Management LLC’s holdings in Caterpillar were worth $47,508,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CAT. Flagship Wealth Advisors LLC purchased a new stake in Caterpillar during the fourth quarter worth about $26,000. Halbert Hargrove Global Advisors LLC bought a new position in shares of Caterpillar during the 4th quarter valued at approximately $27,000. Cyrus J. Lawrence LLC purchased a new stake in shares of Caterpillar during the 4th quarter worth approximately $27,000. Noble Wealth Management PBC purchased a new position in Caterpillar in the fourth quarter valued at approximately $31,000. Finally, Retirement Wealth Solutions LLC bought a new position in Caterpillar during the fourth quarter valued at $34,000. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Up 1.3 %

CAT stock opened at $293.82 on Friday. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $418.50. The stock has a market cap of $140.42 billion, a price-to-earnings ratio of 13.31, a price-to-earnings-growth ratio of 1.87 and a beta of 1.21. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40. The company’s 50 day moving average is $327.08 and its 200 day moving average is $363.77.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $5.14 earnings per share for the quarter, beating the consensus estimate of $4.97 by $0.17. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. Sell-side analysts predict that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 20th. Stockholders of record on Monday, April 21st will be issued a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date is Monday, April 21st. Caterpillar’s payout ratio is currently 25.56%.

Insider Activity

In other news, insider Jason Kaiser sold 2,425 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total value of $860,147.50. Following the completion of the sale, the insider now directly owns 6,275 shares in the company, valued at approximately $2,225,742.50. The trade was a 27.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Gerald Johnson bought 100 shares of Caterpillar stock in a transaction that occurred on Tuesday, February 4th. The shares were acquired at an average cost of $365.57 per share, for a total transaction of $36,557.00. Following the acquisition, the director now owns 3,053 shares in the company, valued at $1,116,085.21. The trade was a 3.39 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CAT. Raymond James raised Caterpillar from a “market perform” rating to an “outperform” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. dropped their price objective on shares of Caterpillar from $490.00 to $380.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Truist Financial reduced their target price on shares of Caterpillar from $438.00 to $389.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Bank of America dropped their price target on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Finally, Morgan Stanley upgraded shares of Caterpillar from an “underweight” rating to an “equal weight” rating and reduced their price objective for the company from $300.00 to $283.00 in a research note on Wednesday. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $361.64.

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.