Concord Wealth Partners Buys 905 Shares of Caterpillar Inc. (NYSE:CAT)

Concord Wealth Partners lifted its stake in Caterpillar Inc. (NYSE:CAT) by 15.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,587 shares of the industrial products company’s stock after purchasing an additional 905 shares during the quarter. Concord Wealth Partners’ holdings in Caterpillar were worth $1,948,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. Gilfoyle & Co LLC bought a new position in Caterpillar in the 4th quarter worth approximately $30,000. Fortitude Family Office LLC purchased a new position in Caterpillar in the fourth quarter valued at about $39,000. Authentikos Wealth Advisory LLC purchased a new stake in shares of Caterpillar during the third quarter worth about $41,000. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Caterpillar during the fourth quarter worth about $41,000. Finally, Rational Advisors LLC acquired a new position in Caterpillar in the third quarter valued at approximately $42,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Price Performance

Shares of CAT traded up $0.93 on Wednesday, hitting $335.50. The company’s stock had a trading volume of 2,035,882 shares, compared to its average volume of 2,506,897. The company has a market capitalization of $167.55 billion, a PE ratio of 15.10, a PEG ratio of 1.51 and a beta of 1.17. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.35 and a quick ratio of 0.83. Caterpillar Inc. has a fifty-two week low of $205.60 and a fifty-two week high of $382.01. The company has a 50 day moving average price of $351.08 and a 200 day moving average price of $302.22.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Thursday, April 25th. The industrial products company reported $5.60 earnings per share for the quarter, topping the consensus estimate of $5.12 by $0.48. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. The firm had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $16.07 billion. On average, research analysts anticipate that Caterpillar Inc. will post 21.57 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, April 22nd will be paid a dividend of $1.30 per share. The ex-dividend date is Friday, April 19th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 1.55%. Caterpillar’s dividend payout ratio is 23.48%.

Analysts Set New Price Targets

Several brokerages recently commented on CAT. Truist Financial initiated coverage on Caterpillar in a research report on Thursday, March 14th. They set a “buy” rating and a $390.00 price target for the company. Evercore ISI cut Caterpillar from an “outperform” rating to an “in-line” rating and lifted their price objective for the company from $321.00 to $338.00 in a research note on Tuesday, February 20th. Citigroup lifted their price target on Caterpillar from $255.00 to $340.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. Morgan Stanley began coverage on Caterpillar in a report on Monday, January 8th. They issued an “equal weight” rating and a $270.00 target price on the stock. Finally, The Goldman Sachs Group lifted their price target on Caterpillar from $357.00 to $408.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $323.35.

Insider Transactions at Caterpillar

In other news, insider Lange Bob De sold 21,194 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $325.52, for a total transaction of $6,899,070.88. Following the completion of the transaction, the insider now directly owns 61,092 shares in the company, valued at approximately $19,886,667.84. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Lange Bob De sold 21,194 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $325.52, for a total transaction of $6,899,070.88. Following the completion of the transaction, the insider now directly owns 61,092 shares in the company, valued at approximately $19,886,667.84. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Anthony D. Fassino sold 4,575 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $329.80, for a total transaction of $1,508,835.00. Following the completion of the sale, the insider now directly owns 23,474 shares in the company, valued at $7,741,725.20. The disclosure for this sale can be found here. Insiders sold a total of 35,769 shares of company stock worth $11,508,906 in the last three months. Insiders own 0.33% 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.