Gray Wealth Management Inc. Buys 65 Shares of Caterpillar Inc. (NYSE:CAT)

Gray Wealth Management Inc. boosted its stake in Caterpillar Inc. (NYSE:CAT) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,136 shares of the industrial products company’s stock after purchasing an additional 65 shares during the quarter. Gray Wealth Management Inc.’s holdings in Caterpillar were worth $927,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Lodestar Private Asset Management LLC grew its position in Caterpillar by 4.4% during the fourth quarter. Lodestar Private Asset Management LLC now owns 830 shares of the industrial products company’s stock valued at $245,000 after buying an additional 35 shares during the period. Desjardins Global Asset Management Inc. boosted its stake in Caterpillar by 1.4% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 2,616 shares of the industrial products company’s stock valued at $774,000 after acquiring an additional 35 shares during the last quarter. Cornerstone Wealth Management LLC grew its position in shares of Caterpillar by 1.0% during the 4th quarter. Cornerstone Wealth Management LLC now owns 3,507 shares of the industrial products company’s stock valued at $1,037,000 after acquiring an additional 36 shares during the period. ACT Wealth Management LLC increased its stake in shares of Caterpillar by 4.3% during the 4th quarter. ACT Wealth Management LLC now owns 877 shares of the industrial products company’s stock worth $259,000 after purchasing an additional 36 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC raised its holdings in shares of Caterpillar by 2.0% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 1,893 shares of the industrial products company’s stock worth $560,000 after purchasing an additional 37 shares during the period. Institutional investors own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CAT. The Goldman Sachs Group increased their price objective on Caterpillar from $357.00 to $408.00 and gave the company a “buy” rating in a report on Tuesday. TD Cowen boosted their price objective on Caterpillar from $300.00 to $338.00 and gave the company an “outperform” rating in a research note on Tuesday, February 6th. Oppenheimer reaffirmed a “market perform” rating on shares of Caterpillar in a report on Thursday. StockNews.com downgraded shares of Caterpillar from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 20th. Finally, Truist Financial began coverage on shares of Caterpillar in a research report on Thursday, March 14th. They set a “buy” rating and a $390.00 price target for the company. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $307.56.

Insider Buying and Selling at Caterpillar

In other news, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $300.04, for a total value of $3,000,400.00. Following the completion of the sale, the chief financial officer now directly owns 67,317 shares in the company, valued at $20,197,792.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $300.04, for a total value of $3,000,400.00. Following the completion of the sale, the chief financial officer now owns 67,317 shares of the company’s stock, valued at $20,197,792.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lange Bob De sold 21,194 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $325.52, for a total value of $6,899,070.88. Following the sale, the insider now owns 61,092 shares of the company’s stock, valued at approximately $19,886,667.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,769 shares of company stock valued at $14,509,306. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Trading Down 0.1 %

CAT traded down $0.39 during midday trading on Thursday, reaching $357.93. 1,920,134 shares of the company’s stock traded hands, compared to its average volume of 2,428,504. The stock has a market capitalization of $178.75 billion, a price-to-earnings ratio of 17.79, a P/E/G ratio of 1.60 and a beta of 1.17. The firm has a fifty day moving average of $345.24 and a two-hundred day moving average of $296.78. Caterpillar Inc. has a 52 week low of $204.04 and a 52 week high of $382.01. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.35 and a quick ratio of 0.87.

Caterpillar (NYSE:CAT) last posted its earnings results on Monday, February 5th. The industrial products company reported $5.23 EPS for the quarter, topping the consensus estimate of $4.76 by $0.47. Caterpillar had a net margin of 15.41% and a return on equity of 56.99%. The firm had revenue of $17.07 billion during the quarter, compared to analysts’ expectations of $17.06 billion. During the same period last year, the company posted $3.86 EPS. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, equities analysts anticipate that Caterpillar Inc. will post 21.33 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, April 22nd will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Friday, April 19th. Caterpillar’s dividend payout ratio is presently 25.82%.

Caterpillar Company 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.