Tower View Wealth Management LLC Acquires 130 Shares of Caterpillar Inc. (NYSE:CAT)

Tower View Wealth Management LLC increased its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 0.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 14,991 shares of the industrial products company’s stock after purchasing an additional 130 shares during the quarter. Caterpillar accounts for 2.9% of Tower View Wealth Management LLC’s portfolio, making the stock its 11th biggest position. Tower View Wealth Management LLC’s holdings in Caterpillar were worth $5,438,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CAT. Eads & Heald Wealth Management raised its stake in shares of Caterpillar by 0.7% during the third quarter. Eads & Heald Wealth Management now owns 6,133 shares of the industrial products company’s stock worth $2,399,000 after buying an additional 42 shares during the last quarter. Weatherly Asset Management L. P. increased its stake in Caterpillar by 9.7% in the third quarter. Weatherly Asset Management L. P. now owns 6,187 shares of the industrial products company’s stock valued at $2,420,000 after purchasing an additional 546 shares in the last quarter. Farther Finance Advisors LLC increased its stake in Caterpillar by 24.5% in the third quarter. Farther Finance Advisors LLC now owns 8,044 shares of the industrial products company’s stock valued at $3,146,000 after purchasing an additional 1,581 shares in the last quarter. Phillips Wealth Planners LLC increased its stake in Caterpillar by 25.4% in the third quarter. Phillips Wealth Planners LLC now owns 835 shares of the industrial products company’s stock valued at $329,000 after purchasing an additional 169 shares in the last quarter. Finally, BluePath Capital Management LLC increased its stake in Caterpillar by 22.2% in the third quarter. BluePath Capital Management LLC now owns 2,464 shares of the industrial products company’s stock valued at $964,000 after purchasing an additional 448 shares in the last quarter. 70.98% of the stock is owned by institutional investors.

Caterpillar Stock Performance

Shares of CAT opened at $343.90 on Friday. Caterpillar Inc. has a 12 month low of $307.05 and a 12 month high of $418.50. The firm has a fifty day simple moving average of $365.99 and a 200 day simple moving average of $372.95. The stock has a market capitalization of $164.36 billion, a price-to-earnings ratio of 15.58, a PEG ratio of 1.87 and a beta of 1.12. The company has a current ratio of 1.42, a quick ratio of 0.89 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 EPS for the quarter, topping the consensus estimate of $4.97 by $0.17. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. Research analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Dividend Announcement

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

Insiders Place Their Bets

In other Caterpillar news, insider Jason Kaiser sold 2,425 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total transaction of $860,147.50. Following the sale, the insider now directly owns 6,275 shares of the company’s stock, valued at approximately $2,225,742.50. This represents a 27.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Gerald Johnson purchased 100 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were purchased at an average cost of $398.57 per share, for a total transaction of $39,857.00. Following the completion of the transaction, the director now directly owns 2,953 shares of the company’s stock, valued at approximately $1,176,977.21. This 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.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CAT shares. Evercore ISI upped their target price on shares of Caterpillar from $365.00 to $375.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. Truist Financial lowered their target price on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Morgan Stanley lowered their target price on shares of Caterpillar from $330.00 to $300.00 and set an “underweight” rating for the company in a research note on Friday, January 31st. JPMorgan Chase & Co. reduced their price target on shares of Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Finally, Citigroup upped their price target on shares of Caterpillar from $420.00 to $430.00 and gave the company a “buy” rating 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $383.80.

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.