First Trust Direct Indexing L.P. Boosts Stake in Caterpillar Inc. (NYSE:CAT)

First Trust Direct Indexing L.P. boosted its position in shares of Caterpillar Inc. (NYSE:CAT) by 16.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,455 shares of the industrial products company’s stock after purchasing an additional 1,930 shares during the period. First Trust Direct Indexing L.P.’s holdings in Caterpillar were worth $3,978,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CAT. Vicus Capital purchased a new position in Caterpillar during the third quarter worth about $210,000. Everett Harris & Co. CA raised its stake in shares of Caterpillar by 2.4% in the 3rd quarter. Everett Harris & Co. CA now owns 3,533 shares of the industrial products company’s stock valued at $965,000 after acquiring an additional 82 shares during the period. Mission Wealth Management LP raised its stake in shares of Caterpillar by 7.4% in the 3rd quarter. Mission Wealth Management LP now owns 4,409 shares of the industrial products company’s stock valued at $1,204,000 after acquiring an additional 304 shares during the period. Wells Trecaso Financial Group LLC raised its stake in shares of Caterpillar by 4.7% in the 3rd quarter. Wells Trecaso Financial Group LLC now owns 13,610 shares of the industrial products company’s stock valued at $3,716,000 after acquiring an additional 610 shares during the period. Finally, Verus Financial Partners Inc. raised its stake in shares of Caterpillar by 15.1% in the 3rd quarter. Verus Financial Partners Inc. now owns 914 shares of the industrial products company’s stock valued at $245,000 after acquiring an additional 120 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Stock Performance

Caterpillar stock traded down $3.50 during trading hours on Wednesday, reaching $331.07. 3,511,934 shares of the stock were exchanged, compared to its average volume of 2,525,907. Caterpillar Inc. has a 52-week low of $205.60 and a 52-week high of $382.01. The stock has a market cap of $165.34 billion, a P/E ratio of 15.10, a P/E/G ratio of 1.51 and a beta of 1.17. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.83 and a current ratio of 1.35. The firm’s 50 day moving average is $351.08 and its 200 day moving average is $302.22.

Caterpillar (NYSE:CAT) last released its earnings results on Thursday, April 25th. The industrial products company reported $5.60 EPS for the quarter, topping the consensus estimate of $5.12 by $0.48. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. The company had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $16.07 billion. Analysts predict that Caterpillar Inc. will post 21.57 EPS for the current fiscal year.

Caterpillar Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, April 22nd will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Friday, April 19th. Caterpillar’s dividend payout ratio (DPR) is presently 23.48%.

Insider Transactions at Caterpillar

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

Analyst Ratings Changes

CAT has been the topic of a number of research analyst reports. Citigroup boosted their price target on shares of Caterpillar from $255.00 to $340.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. Stifel Nicolaus downgraded shares of Caterpillar from a “buy” rating to a “hold” rating and boosted their price target for the company from $293.00 to $350.00 in a research note on Friday, April 26th. Truist Financial initiated coverage on shares of Caterpillar in a report on Thursday, March 14th. They issued a “buy” rating and a $390.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on shares of Caterpillar from $385.00 to $435.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. Finally, TD Cowen lifted their price objective on shares of Caterpillar from $338.00 to $340.00 and gave the company a “buy” rating in a report on Friday, April 26th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $323.35.

About Caterpillar

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.