Connecticut Wealth Management LLC Acquires 4,062 Shares of Caterpillar Inc. (NYSE:CAT)

Connecticut Wealth Management LLC raised its holdings in Caterpillar Inc. (NYSE:CAT) by 282.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,502 shares of the industrial products company’s stock after purchasing an additional 4,062 shares during the quarter. Connecticut Wealth Management LLC’s holdings in Caterpillar were worth $1,627,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Waterway Wealth Management LLC bought a new stake in shares of Caterpillar during the fourth quarter worth $352,000. Farmers Trust Co. raised its position in shares of Caterpillar by 2.7% during the fourth quarter. Farmers Trust Co. now owns 4,490 shares of the industrial products company’s stock worth $1,328,000 after acquiring an additional 120 shares during the last quarter. Firethorn Wealth Partners LLC raised its position in shares of Caterpillar by 19.4% during the fourth quarter. Firethorn Wealth Partners LLC now owns 1,825 shares of the industrial products company’s stock worth $540,000 after acquiring an additional 296 shares during the last quarter. Axxcess Wealth Management LLC raised its position in shares of Caterpillar by 20.0% during the fourth quarter. Axxcess Wealth Management LLC now owns 21,343 shares of the industrial products company’s stock worth $6,310,000 after acquiring an additional 3,558 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its position in shares of Caterpillar by 16.7% during the third quarter. Panagora Asset Management Inc. now owns 367,655 shares of the industrial products company’s stock worth $100,370,000 after acquiring an additional 52,576 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Up 0.4 %

Shares of CAT stock traded up $1.31 on Friday, hitting $336.75. 1,977,087 shares of the stock were exchanged, compared to its average volume of 2,750,444. The company has a current ratio of 1.35, a quick ratio of 0.83 and a debt-to-equity ratio of 1.41. The firm has a market capitalization of $164.69 billion, a P/E ratio of 15.20, a price-to-earnings-growth ratio of 1.44 and a beta of 1.19. The business has a 50-day moving average of $351.89 and a 200 day moving average of $303.64. Caterpillar Inc. has a fifty-two week low of $205.60 and a fifty-two week high of $382.01.

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, topping the consensus estimate of $5.12 by $0.48. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. The business had revenue of $15.80 billion for the quarter, compared to analyst estimates of $16.07 billion. Equities analysts anticipate that Caterpillar Inc. will post 21.79 EPS for the current year.

Caterpillar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, April 22nd will be issued a dividend of $1.30 per share. The ex-dividend date is Friday, April 19th. This represents a $5.20 annualized dividend and a yield of 1.54%. Caterpillar’s payout ratio is presently 23.48%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. TD Cowen lifted their price objective on Caterpillar from $338.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Robert W. Baird lifted their price objective on Caterpillar from $210.00 to $257.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 6th. Stifel Nicolaus cut Caterpillar from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $293.00 to $350.00 in a research note on Friday, April 26th. Morgan Stanley assumed coverage on Caterpillar in a research note on Monday, January 8th. They set an “equal weight” rating and a $270.00 price objective for the company. Finally, Truist Financial started coverage on Caterpillar in a research note on Thursday, March 14th. They set a “buy” rating and a $390.00 price objective for the company. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $323.35.

Insider Buying and Selling

In related news, insider Anthony D. Fassino sold 4,575 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $329.80, for a total transaction of $1,508,835.00. Following the sale, the insider now owns 23,474 shares in the company, valued at $7,741,725.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Caterpillar news, insider Anthony D. Fassino sold 4,575 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $329.80, for a total value of $1,508,835.00. Following the sale, the insider now owns 23,474 shares in the company, valued at $7,741,725.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Lange Bob De sold 21,194 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 61,092 shares in the company, valued at approximately $19,886,667.84. The disclosure for this sale can be found here. 0.33% of the stock is currently 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.