Caterpillar Inc. (NYSE:CAT) Shares Acquired by Connecticut Wealth Management LLC

Connecticut Wealth Management LLC increased its stake in Caterpillar Inc. (NYSE:CAT) by 282.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,502 shares of the industrial products company’s stock after acquiring an additional 4,062 shares during the period. Connecticut Wealth Management LLC’s holdings in Caterpillar were worth $1,627,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CAT. Gilfoyle & Co LLC purchased a new position in Caterpillar in the fourth quarter valued at $30,000. Fortitude Family Office LLC purchased a new position in Caterpillar in the fourth quarter valued at $39,000. Authentikos Wealth Advisory LLC purchased a new position in Caterpillar in the third quarter valued at $41,000. DiNuzzo Private Wealth Inc. purchased a new position in Caterpillar in the fourth quarter valued at $41,000. Finally, Rational Advisors LLC purchased a new position in shares of Caterpillar during the third quarter worth about $42,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Caterpillar

In other Caterpillar news, Director David Maclennan acquired 350 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was acquired at an average cost of $323.37 per share, with a total value of $113,179.50. Following the purchase, the director now directly owns 5,238 shares in the company, valued at approximately $1,693,812.06. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director David Maclennan bought 350 shares of the stock in a transaction on Friday, February 23rd. The stock was purchased at an average cost of $323.37 per share, with a total value of $113,179.50. Following the purchase, the director now owns 5,238 shares of the company’s stock, valued at $1,693,812.06. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Lange Bob De sold 21,194 shares of Caterpillar stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $325.52, for a total transaction of $6,899,070.88. Following the completion of the sale, the insider now directly owns 61,092 shares of the company’s stock, valued at $19,886,667.84. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on CAT shares. Evercore ISI lowered Caterpillar from an “outperform” rating to an “in-line” rating and raised their price objective for the stock from $321.00 to $338.00 in a report on Tuesday, February 20th. Wells Fargo & Company increased their target price on shares of Caterpillar from $290.00 to $325.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 6th. Truist Financial assumed coverage on shares of Caterpillar in a research note on Thursday, March 14th. They set a “buy” rating and a $390.00 target price for the company. Citigroup increased their target price on shares of Caterpillar from $255.00 to $340.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. Finally, JPMorgan Chase & Co. increased their target price on shares of Caterpillar from $385.00 to $435.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $323.35.

Caterpillar Price Performance

Shares of CAT stock traded up $1.31 during midday trading on Friday, reaching $336.75. 1,977,087 shares of the company traded hands, compared to its average volume of 2,750,444. The firm’s 50 day simple moving average is $351.89 and its two-hundred day simple moving average is $303.64. Caterpillar Inc. has a 1-year low of $205.60 and a 1-year high of $382.01. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.35 and a quick ratio of 0.83. The firm has a market cap of $164.69 billion, a PE ratio of 15.20, a price-to-earnings-growth ratio of 1.44 and a beta of 1.19.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Thursday, April 25th. The industrial products company reported $5.60 earnings per share for the quarter, topping analysts’ consensus estimates of $5.12 by $0.48. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. The business had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $16.07 billion. On average, equities research analysts expect that Caterpillar Inc. will post 21.79 EPS 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 1.54%. Caterpillar’s dividend payout ratio (DPR) is 23.48%.

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.