Caterpillar Inc. (NYSE:CAT) Stock Position Raised by Ritholtz Wealth Management

Ritholtz Wealth Management lifted its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 25.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,583 shares of the industrial products company’s stock after buying an additional 1,940 shares during the period. Ritholtz Wealth Management’s holdings in Caterpillar were worth $3,476,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Fairscale Capital LLC bought a new stake in shares of Caterpillar during the 2nd quarter valued at about $36,000. Capital Performance Advisors LLP bought a new position in Caterpillar in the 3rd quarter worth about $36,000. Kimelman & Baird LLC grew its position in Caterpillar by 42.9% in the 3rd quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 30 shares during the last quarter. HWG Holdings LP bought a new position in Caterpillar in the 2nd quarter worth about $54,000. Finally, SOA Wealth Advisors LLC. grew its position in Caterpillar by 47.2% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 156 shares of the industrial products company’s stock worth $61,000 after purchasing an additional 50 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

Insider Transactions at Caterpillar

In other news, CAO William E. Schaupp sold 968 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $380.98, for a total transaction of $368,788.64. Following the transaction, the chief accounting officer now owns 1,686 shares in the company, valued at $642,332.28. This represents a 36.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Cheryl H. Johnson sold 2,664 shares of the 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 transaction, the insider now owns 12,951 shares in the company, valued at approximately $4,906,356.84. This trade represents a 17.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,868 shares of company stock worth $9,679,489 in the last 90 days. 0.29% of the stock is owned by insiders.

Caterpillar Stock Up 1.6 %

Caterpillar stock opened at $380.85 on Friday. The firm has a market cap of $183.87 billion, a PE ratio of 17.66, a P/E/G ratio of 1.72 and a beta of 1.13. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40. The firm’s 50 day moving average price is $380.24 and its two-hundred day moving average price is $366.36. Caterpillar Inc. has a twelve month low of $276.94 and a twelve month high of $418.50.

Caterpillar (NYSE:CAT) last released its quarterly earnings data 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). The company had revenue of $16.11 billion during the quarter, compared to analyst estimates of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.52 EPS. On average, research analysts predict that Caterpillar Inc. will post 21.68 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st will be paid a $1.41 dividend. The ex-dividend date is Tuesday, January 21st. This represents a $5.64 annualized dividend and a yield of 1.48%. Caterpillar’s dividend payout ratio is presently 26.15%.

Analyst Ratings Changes

Several research firms have commented on CAT. Jefferies Financial Group upped their target price on shares of Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Evercore ISI upgraded shares of Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 price objective for the company in a report on Monday. JPMorgan Chase & Co. increased their price objective on shares of Caterpillar from $500.00 to $515.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Bank of America increased their price objective on shares of Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a report on Monday, September 30th. Finally, Truist Financial decreased their price objective on shares of Caterpillar from $471.00 to $455.00 and set a “buy” rating for the company in a report on Thursday. Three analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $380.60.

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.