Caterpillar Inc. (NYSE:CAT) Shares Bought by Spectrum Wealth Counsel LLC

Spectrum Wealth Counsel LLC boosted its stake in shares of Caterpillar Inc. (NYSE:CAT) by 6,407.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 6,507 shares of the industrial products company’s stock after purchasing an additional 6,407 shares during the quarter. Spectrum Wealth Counsel LLC’s holdings in Caterpillar were worth $2,360,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Noble Wealth Management PBC acquired a new position in Caterpillar during the fourth quarter worth $31,000. Capital Performance Advisors LLP acquired a new position in shares of Caterpillar in the 3rd quarter valued at $36,000. Retirement Wealth Solutions LLC acquired a new position in shares of Caterpillar in the 4th quarter valued at $34,000. Whipplewood Advisors LLC acquired a new position in shares of Caterpillar in the 4th quarter valued at $36,000. Finally, Kimelman & Baird LLC lifted its stake in shares of Caterpillar by 42.9% in the 3rd quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 30 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Activity at Caterpillar

In other Caterpillar news, insider Jason Kaiser sold 2,425 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total transaction of $860,147.50. Following the completion of the sale, the insider now directly owns 6,275 shares of the company’s stock, valued at approximately $2,225,742.50. This trade represents a 27.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gerald Johnson acquired 100 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were bought 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 $1,176,977.21. This trade represents a 3.51 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.29% of the company’s stock.

Caterpillar Trading Up 1.1 %

CAT opened at $343.90 on Friday. Caterpillar Inc. has a one year low of $307.05 and a one year high of $418.50. The company has a market cap of $164.36 billion, a P/E ratio of 15.58, a PEG ratio of 1.87 and a beta of 1.12. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42. The business’s 50-day simple moving average is $365.99 and its 200-day simple moving average is $372.71.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Thursday, January 30th. The industrial products company reported $5.14 EPS for the quarter, beating analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. As a group, equities research analysts expect that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Tuesday, January 21st were given a $1.41 dividend. The ex-dividend date of this dividend was Tuesday, January 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.64%. Caterpillar’s dividend payout ratio (DPR) is presently 25.56%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Raymond James raised Caterpillar from a “market perform” rating to an “outperform” rating in a research note on Monday, February 3rd. UBS Group upgraded Caterpillar from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $355.00 to $385.00 in a report on Monday, February 3rd. Citigroup boosted their price objective on Caterpillar from $420.00 to $430.00 and gave the company a “buy” rating in a report on Friday, January 31st. Truist Financial cut their price objective on Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. cut their price objective on Caterpillar from $515.00 to $490.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $383.80.

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.