Caterpillar Inc. (NYSE:CAT) Shares Purchased by Highline Wealth Partners LLC

Highline Wealth Partners LLC raised its position in Caterpillar Inc. (NYSE:CAT) by 779.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 211 shares of the industrial products company’s stock after acquiring an additional 187 shares during the quarter. Highline Wealth Partners LLC’s holdings in Caterpillar were worth $77,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC lifted 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 acquiring an additional 2,131,276 shares during the period. Altshuler Shaham Ltd boosted its stake in shares of Caterpillar by 3,319.7% during the 2nd quarter. Altshuler Shaham Ltd now owns 275,011 shares of the industrial products company’s stock worth $91,606,000 after acquiring an additional 266,969 shares in the last quarter. Zurich Insurance Group Ltd FI increased its position in shares of Caterpillar by 4,018.6% in the third quarter. Zurich Insurance Group Ltd FI now owns 255,355 shares of the industrial products company’s stock valued at $99,874,000 after buying an additional 249,155 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Caterpillar by 2.3% in the third 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. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in shares of Caterpillar by 34.4% in the third 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 purchasing an additional 200,210 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Morgan Stanley downgraded Caterpillar from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $349.00 to $332.00 in a research report on Monday, October 14th. Truist Financial lifted their target price on shares of Caterpillar from $454.00 to $471.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Evercore ISI downgraded Caterpillar from an “in-line” rating to an “underperform” rating and lifted their price objective for the company from $321.00 to $365.00 in a research report on Wednesday, November 13th. JPMorgan Chase & Co. raised their price target on Caterpillar from $500.00 to $515.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Finally, Citigroup increased their price objective on shares of Caterpillar from $435.00 to $460.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $384.33.

Caterpillar Stock Performance

CAT stock traded down $8.25 during mid-day trading on Friday, reaching $352.82. The company had a trading volume of 1,433,145 shares, compared to its average volume of 1,591,711. 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 one year low of $276.94 and a one year high of $418.50. The stock’s 50-day simple moving average is $382.73 and its two-hundred day simple moving average is $365.00. The stock has a market capitalization of $170.34 billion, a P/E ratio of 16.36, a P/E/G ratio of 1.92 and a beta of 1.13.

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

Caterpillar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Tuesday, January 21st will be paid a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date is Tuesday, January 21st. Caterpillar’s dividend payout ratio is currently 26.15%.

Insider Activity at Caterpillar

In other news, Director Gerald Johnson bought 100 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were acquired at an average cost of $398.57 per share, with a total value of $39,857.00. Following the completion of the transaction, the director now directly owns 2,953 shares in the company, valued at approximately $1,176,977.21. The trade was a 3.51 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Cheryl H. Johnson sold 2,664 shares of Caterpillar stock in a transaction that occurred 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 transaction, the insider now owns 12,951 shares in the company, valued at approximately $4,906,356.84. The trade was a 17.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,868 shares of company stock worth $9,679,489 over the last quarter. 0.29% of the stock is currently owned by company insiders.

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.