Principal Financial Group Inc. Acquires 65,635 Shares of Caterpillar Inc. (NYSE:CAT)

Principal Financial Group Inc. boosted its holdings in Caterpillar Inc. (NYSE:CAT) by 9.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 727,853 shares of the industrial products company’s stock after acquiring an additional 65,635 shares during the quarter. Principal Financial Group Inc. owned 0.14% of Caterpillar worth $215,204,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CAT. Private Portfolio Partners LLC lifted its stake in Caterpillar by 45.8% during the 4th quarter. Private Portfolio Partners LLC now owns 1,481 shares of the industrial products company’s stock valued at $438,000 after acquiring an additional 465 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in shares of Caterpillar by 5.8% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 34,112 shares of the industrial products company’s stock valued at $10,086,000 after purchasing an additional 1,867 shares in the last quarter. AlphaStar Capital Management LLC purchased a new position in Caterpillar during the fourth quarter worth about $204,000. One Degree Advisors Inc bought a new stake in Caterpillar in the 4th quarter worth about $519,000. Finally, Dimensional Fund Advisors LP increased its stake in Caterpillar by 4.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,833,681 shares of the industrial products company’s stock valued at $837,851,000 after buying an additional 131,755 shares during the last quarter. 70.98% of the stock is owned by institutional investors.

Caterpillar Price Performance

Shares of CAT traded up $3.01 during mid-day trading on Friday, reaching $354.79. 2,210,787 shares of the stock traded hands, compared to its average volume of 2,729,460. The company has a market cap of $173.51 billion, a price-to-earnings ratio of 16.02, a price-to-earnings-growth ratio of 1.52 and a beta of 1.19. Caterpillar Inc. has a 1 year low of $205.60 and a 1 year high of $382.01. The firm has a fifty day moving average price of $353.59 and a 200 day moving average price of $306.69. 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 posted 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 return on equity of 58.61% and a net margin of 16.79%. The business had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $16.07 billion. As a group, equities research analysts predict that Caterpillar Inc. will post 21.79 earnings per share for the current year.

Caterpillar Announces Dividend

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 paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date is Friday, April 19th. Caterpillar’s dividend payout ratio is currently 23.48%.

Insider Buying and Selling at Caterpillar

In related news, Director David Maclennan purchased 350 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were purchased at an average price of $323.37 per share, with a total value of $113,179.50. Following the acquisition, the director now directly owns 5,238 shares of the company’s stock, valued at $1,693,812.06. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Anthony D. Fassino sold 4,575 shares of the business’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 completion of the sale, the insider now owns 23,474 shares in the company, valued at approximately $7,741,725.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David Maclennan purchased 350 shares of Caterpillar stock in a transaction on Friday, February 23rd. The shares were acquired at an average price of $323.37 per share, for a total transaction of $113,179.50. Following the completion of the transaction, the director now directly owns 5,238 shares of the company’s stock, valued at $1,693,812.06. The disclosure for this purchase can be found here. 0.33% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CAT shares. JPMorgan Chase & Co. raised their target price on Caterpillar from $385.00 to $435.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. HSBC raised their target price on Caterpillar from $330.00 to $360.00 and gave the stock a “hold” rating in a research report on Tuesday, April 30th. Truist Financial started coverage on Caterpillar in a research note on Thursday, March 14th. They set a “buy” rating and a $390.00 price target for the company. Wells Fargo & Company boosted their price objective on Caterpillar from $290.00 to $325.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. Finally, Robert W. Baird increased their target price on shares of Caterpillar from $210.00 to $257.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Caterpillar has a consensus rating of “Hold” and a consensus price target of $323.35.

Caterpillar 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.