Caterpillar Inc. (NYSE:CAT) Shares Acquired by DAVENPORT & Co LLC

DAVENPORT & Co LLC lifted its stake in Caterpillar Inc. (NYSE:CAT) by 5.7% in the 4th quarter, Holdings Channel reports. The firm owned 45,055 shares of the industrial products company’s stock after purchasing an additional 2,430 shares during the quarter. DAVENPORT & Co LLC’s holdings in Caterpillar were worth $16,344,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CAT. Geode Capital Management LLC lifted its position in shares of Caterpillar by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 10,213,455 shares of the industrial products company’s stock valued at $3,987,206,000 after acquiring an additional 67,148 shares during the period. Fisher Asset Management LLC increased its stake in 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 valued at $3,501,554,000 after purchasing an additional 205,012 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Caterpillar by 1.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,627,513 shares of the industrial products company’s stock worth $1,418,793,000 after purchasing an additional 64,452 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Caterpillar by 0.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,227,378 shares of the industrial products company’s stock worth $1,262,290,000 after purchasing an additional 8,088 shares in the last quarter. Finally, International Assets Investment Management LLC grew its holdings in Caterpillar by 39,534.0% in the third quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock valued at $8,356,930,000 after purchasing an additional 2,131,276 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. StockNews.com lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Bank of America dropped their price objective on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a research note on Friday. Citigroup increased their target price on Caterpillar from $420.00 to $430.00 and gave the company a “buy” rating in a report on Friday. Truist Financial cut their price objective on shares of Caterpillar from $471.00 to $455.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Finally, Morgan Stanley reduced their target price on Caterpillar from $330.00 to $300.00 and set an “underweight” rating on the stock in a research report on Friday. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Caterpillar has an average rating of “Hold” and an average target price of $380.13.

Caterpillar Stock Down 0.8 %

NYSE CAT opened at $371.88 on Monday. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. Caterpillar Inc. has a fifty-two week low of $299.93 and a fifty-two week high of $418.50. The business has a 50 day moving average price of $380.88 and a two-hundred day moving average price of $371.07. The stock has a market cap of $179.54 billion, a PE ratio of 17.24, a P/E/G ratio of 2.05 and a beta of 1.13.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share for the quarter, beating analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. As a group, sell-side analysts predict that Caterpillar Inc. will post 21.71 EPS for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently declared 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. This represents a $5.64 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Tuesday, January 21st. Caterpillar’s dividend payout ratio is currently 26.15%.

Insiders Place Their Bets

In other Caterpillar news, insider Lange Bob De sold 12,657 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $410.25, for a total value of $5,192,534.25. Following the transaction, the insider now owns 71,107 shares of the company’s stock, valued at approximately $29,171,646.75. This represents a 15.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel M. Dickinson sold 1,300 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $418.00, for a total value of $543,400.00. Following the sale, the director now directly owns 4,976 shares in the company, valued at $2,079,968. This trade represents a 20.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,236 shares of company stock worth $12,102,371 in the last three months. 0.29% of the stock is owned by 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.