Synergy Asset Management LLC Makes New $988,000 Investment in Caterpillar Inc. (NYSE:CAT)

Synergy Asset Management LLC purchased a new stake in shares of Caterpillar Inc. (NYSE:CAT) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 2,746 shares of the industrial products company’s stock, valued at approximately $988,000.

Other institutional investors also recently modified their holdings of the company. Smallwood Wealth Investment Management LLC boosted its stake 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 worth $405,000 after buying an additional 26 shares during the last quarter. Allen Capital Group LLC lifted its holdings in Caterpillar by 0.6% in the fourth quarter. Allen Capital Group LLC now owns 4,247 shares of the industrial products company’s stock valued at $1,541,000 after acquiring an additional 26 shares during the period. First Bank & Trust boosted its position in Caterpillar by 4.0% in 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 increased its position in shares of Caterpillar by 1.2% during 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. Finally, Channel Wealth LLC lifted its stake 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 worth $533,000 after purchasing an additional 27 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the completion of the sale, the chief financial officer now owns 45,182 shares in the company, valued at $17,173,226.38. This trade represents a 18.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gerald Johnson bought 100 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was bought at an average price of $398.57 per share, for a total transaction of $39,857.00. Following the completion of the purchase, the director now directly owns 2,953 shares in the company, valued at approximately $1,176,977.21. This represents a 3.51 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 33,868 shares of company stock valued at $13,480,389. Company insiders own 0.29% of the company’s stock.

Caterpillar Stock Up 1.0 %

Shares of CAT stock opened at $394.01 on Thursday. The stock has a market cap of $190.23 billion, a P/E ratio of 18.27, a PEG ratio of 1.97 and a beta of 1.13. The company’s fifty day simple moving average is $381.43 and its two-hundred day simple moving average is $370.62. 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 52 week low of $299.93 and a 52 week high of $418.50.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) 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%. Analysts predict that Caterpillar Inc. will post 21.69 EPS for the current fiscal year.

Caterpillar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Tuesday, January 21st will be given a $1.41 dividend. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.43%. Caterpillar’s dividend payout ratio is presently 26.15%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Morgan Stanley cut shares of Caterpillar from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $349.00 to $332.00 in a report on Monday, October 14th. Jefferies Financial Group upped their price objective on Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. lifted their target price on Caterpillar from $500.00 to $515.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Truist Financial reduced their price target on Caterpillar from $471.00 to $455.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Finally, StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $384.60.

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.