Caterpillar Inc. (NYSE:CAT) Shares Purchased by Fagan Associates Inc.

Fagan Associates Inc. increased its stake in shares of Caterpillar Inc. (NYSE:CAT) by 2.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,595 shares of the industrial products company’s stock after purchasing an additional 40 shares during the period. Fagan Associates Inc.’s holdings in Caterpillar were worth $579,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Bank of Jackson Hole Trust purchased a new stake in Caterpillar in the 4th quarter worth approximately $609,000. Klingman & Associates LLC grew its stake in Caterpillar by 4.5% in the 4th quarter. Klingman & Associates LLC now owns 703 shares of the industrial products company’s stock worth $255,000 after acquiring an additional 30 shares during the period. Kentucky Retirement Systems Insurance Trust Fund grew its stake in Caterpillar by 57.0% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 22,535 shares of the industrial products company’s stock worth $8,175,000 after acquiring an additional 8,178 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors grew its stake in Caterpillar by 3.2% in the 4th quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 3,836 shares of the industrial products company’s stock worth $1,392,000 after acquiring an additional 118 shares during the period. Finally, Kestra Investment Management LLC grew its stake in Caterpillar by 31.6% in the 4th quarter. Kestra Investment Management LLC now owns 1,323 shares of the industrial products company’s stock worth $480,000 after acquiring an additional 318 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on CAT. 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 price objective 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. Citigroup boosted their price objective on shares of Caterpillar from $420.00 to $430.00 and gave the company a “buy” rating in a research note on Friday, January 31st. UBS Group raised shares of Caterpillar from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $355.00 to $385.00 in a research note on Monday, February 3rd. Finally, DA Davidson boosted their price objective on shares of Caterpillar from $350.00 to $357.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Caterpillar has an average rating of “Hold” and a consensus price target of $383.13.

Caterpillar Stock Performance

Shares of CAT stock opened at $355.42 on Wednesday. Caterpillar Inc. has a 12 month low of $307.05 and a 12 month high of $418.50. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. The firm has a market capitalization of $171.60 billion, a P/E ratio of 16.10, a P/E/G ratio of 1.88 and a beta of 1.12. The company’s fifty day moving average price is $371.55 and its two-hundred day moving average price is $372.29.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $5.14 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, research analysts anticipate that Caterpillar Inc. will post 19.98 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st will be issued a $1.41 dividend. The ex-dividend date is Tuesday, January 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.59%. Caterpillar’s dividend payout ratio is currently 25.56%.

Insiders Place Their Bets

In other news, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $380.09, for a total value of $3,800,900.00. Following the sale, the chief financial officer now owns 45,182 shares in the company, valued at approximately $17,173,226.38. This represents a 18.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Anthony D. Fassino sold 6,279 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $408.59, for a total transaction of $2,565,536.61. Following the completion of the sale, the insider now owns 33,565 shares in the company, valued at approximately $13,714,323.35. This trade represents 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.

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.