Cranbrook Wealth Management LLC Grows Holdings in Caterpillar Inc. (NYSE:CAT)

Cranbrook Wealth Management LLC grew its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 3.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,247 shares of the industrial products company’s stock after acquiring an additional 75 shares during the period. Cranbrook Wealth Management LLC’s holdings in Caterpillar were worth $815,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC lifted its position in shares of Caterpillar by 39,534.0% during the third quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock worth $8,356,930,000 after purchasing an additional 2,131,276 shares during the last quarter. Altshuler Shaham Ltd boosted its holdings in Caterpillar by 3,319.7% in the second quarter. Altshuler Shaham Ltd now owns 275,011 shares of the industrial products company’s stock worth $91,606,000 after purchasing an additional 266,969 shares during the period. Zurich Insurance Group Ltd FI raised its holdings in shares of Caterpillar by 4,018.6% during the third quarter. Zurich Insurance Group Ltd FI now owns 255,355 shares of the industrial products company’s stock worth $99,874,000 after purchasing an additional 249,155 shares during the period. Fisher Asset Management LLC lifted its position in shares of Caterpillar by 2.3% in the 3rd quarter. Fisher Asset Management LLC now owns 8,952,632 shares of the industrial products company’s stock worth $3,501,554,000 after buying an additional 205,012 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in shares of Caterpillar by 34.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 782,133 shares of the industrial products company’s stock valued at $305,908,000 after buying an additional 200,210 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Stock Performance

CAT opened at $386.03 on Friday. Caterpillar Inc. has a 1-year low of $277.66 and a 1-year high of $418.50. The company has a market capitalization of $186.38 billion, a price-to-earnings ratio of 17.90, a price-to-earnings-growth ratio of 1.72 and a beta of 1.13. The business has a 50 day moving average price of $380.09 and a two-hundred day moving average price of $366.76. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86.

Caterpillar (NYSE:CAT) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing the consensus estimate of $5.33 by ($0.16). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The firm had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. During the same period in the prior year, the business earned $5.52 EPS. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. Research analysts predict that Caterpillar Inc. will post 21.68 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Tuesday, January 21st will be issued a $1.41 dividend. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.46%. Caterpillar’s payout ratio is currently 26.15%.

Insider Activity at Caterpillar

In other news, insider Cheryl H. Johnson sold 2,664 shares of the business’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $378.84, for a total transaction of $1,009,229.76. Following the sale, the insider now directly owns 12,951 shares of the company’s stock, valued at $4,906,356.84. The trade was a 17.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $380.09, for a total value of $3,800,900.00. Following the completion of the transaction, the chief financial officer now owns 45,182 shares of the company’s stock, valued at $17,173,226.38. This trade represents a 18.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,868 shares of company stock valued at $13,480,389 over the last ninety days. Insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CAT shares. Truist Financial decreased their target price on Caterpillar from $471.00 to $455.00 and set a “buy” rating for the company in a research note on Thursday. Morgan Stanley downgraded Caterpillar from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $349.00 to $332.00 in a research note on Monday, October 14th. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Friday. Bank of America increased their price objective on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Finally, Evercore ISI raised shares of Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 target price for the company in a research note on Monday, January 13th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $380.60.

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.