Signet Financial Management LLC Has $9.12 Million Stake in Caterpillar Inc. (NYSE:CAT)

Signet Financial Management LLC lessened its stake in Caterpillar Inc. (NYSE:CAT) by 1.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,879 shares of the industrial products company’s stock after selling 491 shares during the period. Caterpillar accounts for 1.3% of Signet Financial Management LLC’s portfolio, making the stock its 12th largest holding. Signet Financial Management LLC’s holdings in Caterpillar were worth $9,116,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Caterpillar by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 48,353,370 shares of the industrial products company’s stock valued at $14,296,641,000 after buying an additional 129,216 shares during the period. Capital World Investors raised its position in shares of Caterpillar by 0.3% during the fourth quarter. Capital World Investors now owns 29,029,953 shares of the industrial products company’s stock worth $8,583,372,000 after purchasing an additional 96,479 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of Caterpillar by 2.3% during the 4th quarter. Fisher Asset Management LLC now owns 8,145,840 shares of the industrial products company’s stock valued at $2,408,481,000 after purchasing an additional 179,908 shares in the last quarter. Morgan Stanley increased its position in shares of Caterpillar by 0.7% during the third quarter. Morgan Stanley now owns 6,830,849 shares of the industrial products company’s stock worth $1,864,823,000 after acquiring an additional 47,258 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Caterpillar during the fourth quarter worth about $1,660,560,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Stock Up 0.1 %

CAT stock traded up $0.19 during midday trading on Thursday, reaching $326.92. 618,091 shares of the company’s stock traded hands, compared to its average volume of 2,658,918. The company has a quick ratio of 0.83, a current ratio of 1.35 and a debt-to-equity ratio of 1.41. The firm’s fifty day moving average price is $341.98 and its 200-day moving average price is $328.08. Caterpillar Inc. has a 52 week low of $223.76 and a 52 week high of $382.01. The company has a market cap of $159.88 billion, a price-to-earnings ratio of 14.85, a P/E/G ratio of 1.68 and a beta of 1.14.

Caterpillar (NYSE:CAT) last posted its earnings results on Thursday, April 25th. The industrial products company reported $5.60 earnings per share for the quarter, beating analysts’ consensus estimates of $5.12 by $0.48. The company had revenue of $15.80 billion for the quarter, compared to analyst estimates of $16.07 billion. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. As a group, sell-side analysts forecast that Caterpillar Inc. will post 21.84 earnings per share for the current fiscal year.

Caterpillar declared that its board has authorized a stock repurchase program on Wednesday, June 12th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the industrial products company to buy up to 12.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Caterpillar Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Monday, July 22nd will be issued a $1.41 dividend. This is an increase from Caterpillar’s previous quarterly dividend of $1.30. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date is Monday, July 22nd. Caterpillar’s payout ratio is 23.48%.

Insider Activity at Caterpillar

In related news, insider Cheryl H. Johnson sold 1,508 shares of Caterpillar stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $340.00, for a total value of $512,720.00. Following the sale, the insider now owns 20,023 shares of the company’s stock, valued at approximately $6,807,820. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director David Maclennan bought 500 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were purchased at an average price of $337.39 per share, for a total transaction of $168,695.00. Following the completion of the transaction, the director now directly owns 5,738 shares in the company, valued at approximately $1,935,943.82. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Cheryl H. Johnson sold 1,508 shares of Caterpillar stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $340.00, for a total value of $512,720.00. Following the completion of the transaction, the insider now owns 20,023 shares of the company’s stock, valued at $6,807,820. The disclosure for this sale can be found here. 0.33% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on CAT. Stifel Nicolaus downgraded Caterpillar from a “buy” rating to a “hold” rating and increased their price objective for the company from $293.00 to $350.00 in a report on Friday, April 26th. Truist Financial assumed coverage on shares of Caterpillar in a report on Thursday, March 14th. They issued a “buy” rating and a $390.00 target price on the stock. Oppenheimer reiterated a “market perform” rating on shares of Caterpillar in a report on Thursday, April 18th. The Goldman Sachs Group upped their price objective on Caterpillar from $357.00 to $408.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Finally, TD Cowen boosted their target price on Caterpillar from $338.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $329.63.

About Caterpillar

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.