Strategic Financial Concepts LLC Acquires Shares of 706 Caterpillar Inc. (NYSE:CAT)

Strategic Financial Concepts LLC bought a new stake in Caterpillar Inc. (NYSE:CAT) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 706 shares of the industrial products company’s stock, valued at approximately $259,000.

Several other hedge funds and other institutional investors also recently modified their holdings of CAT. Norges Bank acquired a new position in Caterpillar during the fourth quarter worth about $1,660,560,000. International Assets Investment Management LLC lifted its stake in Caterpillar by 28,603.5% in the 4th quarter. International Assets Investment Management LLC now owns 1,494,018 shares of the industrial products company’s stock valued at $4,417,360,000 after purchasing an additional 1,488,813 shares during the last quarter. Capital Wealth Planning LLC boosted its position in Caterpillar by 27,495.2% in the fourth quarter. Capital Wealth Planning LLC now owns 1,182,453 shares of the industrial products company’s stock valued at $349,616,000 after buying an additional 1,178,168 shares in the last quarter. Winslow Capital Management LLC grew its stake in shares of Caterpillar by 2,265.3% during the third quarter. Winslow Capital Management LLC now owns 1,117,830 shares of the industrial products company’s stock worth $305,168,000 after buying an additional 1,070,570 shares during the last quarter. Finally, FMR LLC increased its holdings in shares of Caterpillar by 14.9% during the third quarter. FMR LLC now owns 6,038,207 shares of the industrial products company’s stock worth $1,648,431,000 after buying an additional 781,111 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Caterpillar Trading Down 4.4 %

CAT stock traded down $15.23 during mid-day trading on Tuesday, reaching $334.57. The company’s stock had a trading volume of 4,189,127 shares, compared to its average volume of 2,513,906. The company has a market cap of $167.08 billion, a price-to-earnings ratio of 15.10, a price-to-earnings-growth ratio of 1.52 and a beta of 1.17. Caterpillar Inc. has a 12 month low of $205.60 and a 12 month high of $382.01. The business’s 50 day moving average price is $351.08 and its 200 day moving average price is $302.22. The company has a current ratio of 1.35, a quick ratio of 0.83 and a debt-to-equity ratio of 1.41.

Caterpillar (NYSE:CAT) last released its earnings results on Thursday, April 25th. The industrial products company reported $5.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.12 by $0.48. The company had revenue of $15.80 billion for the quarter, compared to the consensus estimate of $16.07 billion. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. On average, equities research analysts predict that Caterpillar Inc. will post 21.44 EPS for the current year.

Caterpillar Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, April 22nd will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Friday, April 19th. This represents a $5.20 annualized dividend and a dividend yield of 1.55%. Caterpillar’s dividend payout ratio is 23.48%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. boosted their price objective on Caterpillar from $385.00 to $435.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. Evercore ISI downgraded Caterpillar from an “outperform” rating to an “in-line” rating and upped their price objective for the company from $321.00 to $338.00 in a research note on Tuesday, February 20th. Truist Financial initiated coverage on shares of Caterpillar in a research report on Thursday, March 14th. They set a “buy” rating and a $390.00 target price on the stock. Oppenheimer restated a “market perform” rating on shares of Caterpillar in a research report on Thursday, April 18th. Finally, StockNews.com lowered shares of Caterpillar from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 20th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Caterpillar presently has an average rating of “Hold” and a consensus price target of $323.35.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $310.10, for a total transaction of $3,101,000.00. Following the completion of the sale, the chief financial officer now directly owns 57,317 shares of the company’s stock, valued at approximately $17,774,001.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $310.10, for a total transaction of $3,101,000.00. Following the transaction, the chief financial officer now directly owns 57,317 shares in the company, valued at $17,774,001.70. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Anthony D. Fassino sold 4,575 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $329.80, for a total transaction of $1,508,835.00. Following the completion of the sale, the insider now owns 23,474 shares of the company’s stock, valued at approximately $7,741,725.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,769 shares of company stock worth $11,508,906. 0.33% of the stock is owned by corporate insiders.

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.