Jacksonville Wealth Management LLC Makes New Investment in Caterpillar Inc. (NYSE:CAT)

Jacksonville Wealth Management LLC purchased a new stake in shares of Caterpillar Inc. (NYSE:CAT) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,769 shares of the industrial products company’s stock, valued at approximately $642,000.

Other hedge funds have also modified their holdings of the company. Grimes & Company Inc. raised its position in Caterpillar by 5.1% during the fourth quarter. Grimes & Company Inc. now owns 3,354 shares of the industrial products company’s stock valued at $1,217,000 after acquiring an additional 164 shares in the last quarter. Linden Thomas Advisory Services LLC increased its stake in shares of Caterpillar by 14.5% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 6,988 shares of the industrial products company’s stock worth $2,535,000 after purchasing an additional 883 shares during the last quarter. McGuire Investment Group LLC raised its holdings in shares of Caterpillar by 0.6% during the 4th quarter. McGuire Investment Group LLC now owns 22,960 shares of the industrial products company’s stock valued at $8,329,000 after purchasing an additional 128 shares in the last quarter. Goelzer Investment Management Inc. lifted its stake in shares of Caterpillar by 2.6% in the 4th quarter. Goelzer Investment Management Inc. now owns 15,639 shares of the industrial products company’s stock valued at $5,673,000 after purchasing an additional 395 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its position in Caterpillar by 75.3% during the fourth quarter. Exchange Traded Concepts LLC now owns 49,121 shares of the industrial products company’s stock worth $17,819,000 after buying an additional 21,094 shares during the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Stock Up 0.4 %

CAT opened at $407.95 on Friday. Caterpillar Inc. has a fifty-two week low of $293.13 and a fifty-two week high of $418.50. The company has a market capitalization of $196.96 billion, a P/E ratio of 18.91, a P/E/G ratio of 1.97 and a beta of 1.13. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86. The firm’s fifty day moving average price is $381.07 and its two-hundred day moving average price is $369.19.

Caterpillar (NYSE:CAT) last posted its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The business had revenue of $16.11 billion during the quarter, compared to the consensus estimate of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The business’s revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.52 EPS. On average, analysts anticipate that Caterpillar Inc. will post 21.69 EPS for the current year.

Caterpillar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st will be given a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date is Tuesday, January 21st. Caterpillar’s dividend payout ratio (DPR) is 26.15%.

Analysts Set New Price Targets

Several research firms have recently issued reports on CAT. Morgan Stanley downgraded Caterpillar from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $349.00 to $332.00 in a research note on Monday, October 14th. JPMorgan Chase & Co. increased their price target on Caterpillar from $500.00 to $515.00 and gave the company an “overweight” rating in a report on Monday, December 9th. UBS Group boosted their price objective on shares of Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a research note on Monday, November 4th. Truist Financial dropped their target price on shares of Caterpillar from $471.00 to $455.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Finally, Evercore ISI upgraded shares of Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 price target for the company in a report on Monday, January 13th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $380.60.

Insiders Place Their Bets

In other Caterpillar news, insider Cheryl H. Johnson sold 2,664 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $378.84, for a total value of $1,009,229.76. Following the transaction, the insider now directly owns 12,951 shares in the company, valued at $4,906,356.84. The trade was a 17.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO William E. Schaupp sold 968 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $380.98, for a total transaction of $368,788.64. Following the sale, the chief accounting officer now directly owns 1,686 shares of the company’s stock, valued at approximately $642,332.28. The trade was a 36.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,868 shares of company stock worth $13,480,389 over the last three months. 0.29% 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.