Allworth Financial LP Boosts Stake in Caterpillar Inc. (NYSE:CAT)

Allworth Financial LP raised its holdings in Caterpillar Inc. (NYSE:CAT) by 146.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,832 shares of the industrial products company’s stock after purchasing an additional 36,134 shares during the quarter. Allworth Financial LP’s holdings in Caterpillar were worth $24,188,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its position in Caterpillar by 0.7% in the third quarter. Geode Capital Management LLC now owns 10,213,455 shares of the industrial products company’s stock valued at $3,987,206,000 after purchasing an additional 67,148 shares during the period. Fisher Asset Management LLC raised its holdings in shares of Caterpillar by 2.3% in the 3rd quarter. Fisher Asset Management LLC now owns 8,952,632 shares of the industrial products company’s stock valued at $3,501,554,000 after buying an additional 205,012 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Caterpillar by 1.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,627,513 shares of the industrial products company’s stock valued at $1,418,793,000 after buying an additional 64,452 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Caterpillar by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,227,378 shares of the industrial products company’s stock valued at $1,262,290,000 after buying an additional 8,088 shares during the period. Finally, International Assets Investment Management LLC raised its holdings in shares of Caterpillar by 39,534.0% in the 3rd quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock valued at $8,356,930,000 after buying an additional 2,131,276 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Activity at Caterpillar

In other news, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s 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 owns 45,182 shares in the company, valued at $17,173,226.38. This trade represents a 18.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Anthony D. Fassino sold 6,279 shares of Caterpillar stock in a transaction on Friday, November 29th. The shares were 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 owns 33,565 shares in the company, valued at $13,714,323.35. The trade was a 15.76 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CAT shares. Bank of America cut their price objective on Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Morgan Stanley cut their price target on Caterpillar from $330.00 to $300.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. DA Davidson upped their price target on Caterpillar from $350.00 to $357.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Truist Financial cut their price target on Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Finally, Jefferies Financial Group upped their price target on Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $383.13.

Caterpillar Stock Down 0.1 %

Caterpillar stock opened at $353.31 on Friday. Caterpillar Inc. has a twelve month low of $307.05 and a twelve month high of $418.50. The stock has a 50 day moving average of $372.47 and a two-hundred day moving average of $371.96. 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 stock has a market capitalization of $170.58 billion, a price-to-earnings ratio of 16.01, a PEG ratio of 1.94 and a beta of 1.12.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $5.14 earnings per share for the quarter, topping analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. As a group, research analysts expect that Caterpillar Inc. will post 20.05 earnings per share for the current year.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Tuesday, January 21st will be paid a $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend is Tuesday, January 21st. Caterpillar’s payout ratio is currently 25.56%.

Caterpillar Company 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.