Ring Mountain Capital LLC Makes New Investment in Caterpillar Inc. (NYSE:CAT)

Ring Mountain Capital LLC acquired a new position in shares of Caterpillar Inc. (NYSE:CAT) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 1,003 shares of the industrial products company’s stock, valued at approximately $364,000.

Other hedge funds have also modified their holdings of the company. Halbert Hargrove Global Advisors LLC bought a new position in shares of Caterpillar during the fourth quarter worth about $27,000. Noble Wealth Management PBC acquired a new position in Caterpillar during the fourth quarter valued at approximately $31,000. Retirement Wealth Solutions LLC acquired a new position in Caterpillar during the fourth quarter valued at approximately $34,000. Capital Performance Advisors LLP acquired a new position in Caterpillar during the third quarter valued at approximately $36,000. Finally, Albion Financial Group UT boosted its position in Caterpillar by 334.8% during the fourth quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 77 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CAT has been the subject of a number of recent analyst reports. Truist Financial cut their price objective on Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. DA Davidson increased their target price on Caterpillar from $350.00 to $357.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Jefferies Financial Group increased their target price on Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. StockNews.com lowered Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, JPMorgan Chase & Co. lowered their price objective on Caterpillar from $515.00 to $490.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Two analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $383.80.

Insiders Place Their Bets

In other news, insider Jason Kaiser sold 2,425 shares of Caterpillar 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 completion of the sale, the insider now directly owns 6,275 shares of the company’s stock, valued at approximately $2,225,742.50. The trade was a 27.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $380.09, for a total value of $3,800,900.00. Following the completion of the sale, the chief financial officer now directly owns 45,182 shares of the company’s stock, valued at approximately $17,173,226.38. This represents a 18.12 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

Caterpillar Trading Down 3.5 %

NYSE CAT opened at $331.75 on Tuesday. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $158.55 billion, a P/E ratio of 15.03, a PEG ratio of 1.87 and a beta of 1.12. The business has a fifty day simple moving average of $365.31 and a 200 day simple moving average of $373.10. Caterpillar Inc. has a 12 month low of $307.05 and a 12 month high of $418.50.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share 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%. On average, analysts predict that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Tuesday, January 21st were paid a $1.41 dividend. The ex-dividend date was Tuesday, January 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.70%. Caterpillar’s payout ratio is 25.56%.

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.