Wealthspire Advisors LLC Raises Position in Caterpillar Inc. (NYSE:CAT)

Wealthspire Advisors LLC increased its position in shares of Caterpillar Inc. (NYSE:CAT) by 8.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,336 shares of the industrial products company’s stock after purchasing an additional 438 shares during the period. Wealthspire Advisors LLC’s holdings in Caterpillar were worth $1,578,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Gilfoyle & Co LLC purchased a new position in Caterpillar in the fourth quarter worth $30,000. Fortitude Family Office LLC purchased a new position in shares of Caterpillar in the 4th quarter valued at about $39,000. Authentikos Wealth Advisory LLC acquired a new stake in shares of Caterpillar in the third quarter valued at about $41,000. DiNuzzo Private Wealth Inc. acquired a new position in Caterpillar during the fourth quarter worth about $41,000. Finally, Rational Advisors LLC purchased a new position in Caterpillar in the third quarter valued at about $42,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Trading Up 2.1 %

NYSE CAT traded up $7.28 during trading hours on Thursday, hitting $351.78. 3,182,127 shares of the company’s stock were exchanged, compared to its average volume of 2,508,150. The business’s 50 day moving average is $352.87 and its 200-day moving average is $305.22. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.83 and a current ratio of 1.35. Caterpillar Inc. has a 12-month low of $205.60 and a 12-month high of $382.01. The firm has a market capitalization of $172.04 billion, a P/E ratio of 15.92, a price-to-earnings-growth ratio of 1.44 and a beta of 1.19.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Thursday, April 25th. The industrial products company reported $5.60 earnings per share 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 business had revenue of $15.80 billion for the quarter, compared to analyst estimates of $16.07 billion. As a group, analysts anticipate that Caterpillar Inc. will post 21.79 EPS for the current fiscal 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 is Friday, April 19th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 1.48%. Caterpillar’s payout ratio is 23.48%.

Analysts Set New Price Targets

CAT has been the topic of a number of research reports. Truist Financial began coverage on Caterpillar in a report on Thursday, March 14th. They issued a “buy” rating and a $390.00 price target on the stock. Citigroup lifted their price target on Caterpillar from $255.00 to $340.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. Robert W. Baird increased their price objective on shares of Caterpillar from $210.00 to $257.00 and gave the company an “underperform” rating in a research note on Tuesday, February 6th. Oppenheimer restated a “market perform” rating on shares of Caterpillar in a research report on Thursday, April 18th. Finally, Stifel Nicolaus cut shares of Caterpillar from a “buy” rating to a “hold” rating and raised their price objective for the stock from $293.00 to $350.00 in a research note on Friday, April 26th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Caterpillar presently has an average rating of “Hold” and a consensus price target of $323.35.

Insider Buying and Selling

In other news, Director David Maclennan purchased 350 shares of the stock in a transaction on Friday, February 23rd. The stock was purchased at an average price of $323.37 per share, with a total value of $113,179.50. Following the completion of the transaction, the director now owns 5,238 shares in the company, valued at $1,693,812.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Caterpillar news, insider Anthony D. Fassino sold 4,575 shares of the stock in a transaction that occurred on 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 sale, the insider now owns 23,474 shares of the company’s stock, valued at $7,741,725.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David Maclennan purchased 350 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were purchased at an average cost of $323.37 per share, with a total value of $113,179.50. Following the completion of the acquisition, the director now owns 5,238 shares in the company, valued at approximately $1,693,812.06. The disclosure for this purchase can be found here. Corporate insiders own 0.33% of the company’s stock.

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.