Requisite Capital Management LLC Makes New $321,000 Investment in Caterpillar Inc. (NYSE:CAT)

Requisite Capital Management LLC bought a new position in Caterpillar Inc. (NYSE:CAT) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 884 shares of the industrial products company’s stock, valued at approximately $321,000.

Several other hedge funds have also bought and sold shares of the stock. Smallwood Wealth Investment Management LLC grew its position in shares of Caterpillar by 2.6% in the 3rd quarter. Smallwood Wealth Investment Management LLC now owns 1,037 shares of the industrial products company’s stock valued at $405,000 after buying an additional 26 shares during the last quarter. First Bank & Trust grew its holdings in shares of Caterpillar by 4.0% during the third quarter. First Bank & Trust now owns 709 shares of the industrial products company’s stock worth $277,000 after purchasing an additional 27 shares during the last quarter. Washington Trust Bank lifted its holdings in shares of Caterpillar by 1.2% in the 3rd quarter. Washington Trust Bank now owns 2,349 shares of the industrial products company’s stock valued at $919,000 after purchasing an additional 27 shares during the last quarter. Channel Wealth LLC boosted its position in shares of Caterpillar by 1.9% in the 4th quarter. Channel Wealth LLC now owns 1,468 shares of the industrial products company’s stock valued at $533,000 after purchasing an additional 27 shares during the period. Finally, Pacifica Partners Inc. grew its stake in Caterpillar by 1.6% during the 3rd quarter. Pacifica Partners Inc. now owns 1,807 shares of the industrial products company’s stock worth $707,000 after buying an additional 28 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Price Performance

Shares of NYSE CAT opened at $407.95 on Friday. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. The stock has a market cap of $196.96 billion, a price-to-earnings ratio of 18.91, a PEG ratio of 1.97 and a beta of 1.13. The company’s 50-day moving average price is $381.07 and its 200 day moving average price is $369.19. Caterpillar Inc. has a 52 week low of $293.13 and a 52 week high of $418.50.

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 company 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 company’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.52 earnings per share. As a group, research analysts forecast that Caterpillar Inc. will post 21.69 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Tuesday, January 21st will be paid a $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend is Tuesday, January 21st. Caterpillar’s payout ratio is 26.15%.

Analyst Ratings Changes

Several research firms have recently weighed in on CAT. Bank of America increased their price objective on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a report on Monday, September 30th. Truist Financial dropped their price objective on shares of Caterpillar from $471.00 to $455.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. Citigroup dropped their price target on Caterpillar from $460.00 to $420.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Finally, Jefferies Financial Group lifted their target price on Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Three equities research 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. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $380.60.

Insiders Place Their Bets

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $380.09, for a total value of $3,800,900.00. Following the sale, the chief financial officer now directly owns 45,182 shares of the company’s stock, valued at approximately $17,173,226.38. This trade represents a 18.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO William E. Schaupp sold 968 shares of the 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 transaction, the chief accounting officer now directly owns 1,686 shares in the company, valued at approximately $642,332.28. This represents a 36.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,868 shares of company stock valued at $13,480,389 in the last ninety days. Insiders own 0.29% of the company’s stock.

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.