Stonebridge Financial Group LLC Takes Position in Caterpillar Inc. (NYSE:CAT)

Stonebridge Financial Group LLC acquired a new position in shares of Caterpillar Inc. (NYSE:CAT) in the 4th quarter, HoldingsChannel reports. The fund acquired 1,533 shares of the industrial products company’s stock, valued at approximately $556,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CAT. Nordea Investment Management AB boosted its holdings in Caterpillar by 1.6% during the fourth quarter. Nordea Investment Management AB now owns 635,750 shares of the industrial products company’s stock valued at $231,686,000 after acquiring an additional 10,212 shares during the period. West Wealth Group LLC acquired a new position in shares of Caterpillar during the 4th quarter worth about $230,000. Citizens Financial Group Inc. RI boosted its stake in Caterpillar by 43.0% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 13,902 shares of the industrial products company’s stock valued at $5,437,000 after purchasing an additional 4,181 shares during the period. Cadinha & Co. LLC acquired a new stake in Caterpillar in the 4th quarter valued at approximately $11,084,000. Finally, Atomi Financial Group Inc. increased its position in Caterpillar by 3.9% in the 4th quarter. Atomi Financial Group Inc. now owns 23,193 shares of the industrial products company’s stock worth $8,414,000 after buying an additional 871 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CAT shares. Jefferies Financial Group raised their price objective on shares of Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Morgan Stanley dropped their price objective on shares of Caterpillar from $330.00 to $300.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. Citigroup upped their price objective on shares of Caterpillar from $420.00 to $430.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Truist Financial decreased their target price on Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Finally, StockNews.com raised Caterpillar from a “hold” rating to a “buy” rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $383.13.

Insider Transactions at Caterpillar

In related news, insider Anthony D. Fassino sold 6,279 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $408.59, for a total value of $2,565,536.61. Following the completion of the transaction, the insider now directly owns 33,565 shares in the company, valued at approximately $13,714,323.35. The trade was a 15.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $380.09, for a total transaction 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 $17,173,226.38. This represents a 18.12 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is owned by corporate insiders.

Caterpillar Price Performance

NYSE:CAT opened at $362.61 on Wednesday. The firm has a market cap of $175.07 billion, a PE ratio of 16.43, a price-to-earnings-growth ratio of 1.94 and a beta of 1.12. Caterpillar Inc. has a 12 month low of $307.05 and a 12 month high of $418.50. The company’s 50-day moving average price is $375.80 and its two-hundred day moving average price is $371.86. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40.

Caterpillar (NYSE:CAT) last announced its earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. On average, equities analysts anticipate that Caterpillar Inc. will post 20.05 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Tuesday, January 21st will be paid a $1.41 dividend. This represents a $5.64 annualized dividend and a dividend yield of 1.56%. The ex-dividend date is Tuesday, January 21st. Caterpillar’s dividend payout ratio (DPR) is presently 25.56%.

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.