GAMMA Investing LLC Invests $1.32 Million in Caterpillar Inc. (NYSE:CAT)

GAMMA Investing LLC bought a new position in shares of Caterpillar Inc. (NYSE:CAT) in the fourth quarter, HoldingsChannel reports. The firm bought 4,383 shares of the industrial products company’s stock, valued at approximately $1,316,000.

A number of other large investors have also modified their holdings of the business. Lodestar Private Asset Management LLC raised its stake in shares of Caterpillar by 4.4% during the 4th quarter. Lodestar Private Asset Management LLC now owns 830 shares of the industrial products company’s stock worth $245,000 after buying an additional 35 shares in the last quarter. Desjardins Global Asset Management Inc. increased its stake in Caterpillar by 1.4% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 2,616 shares of the industrial products company’s stock valued at $774,000 after purchasing an additional 35 shares in the last quarter. Cornerstone Wealth Management LLC increased its stake in Caterpillar by 1.0% in the 4th quarter. Cornerstone Wealth Management LLC now owns 3,507 shares of the industrial products company’s stock valued at $1,037,000 after purchasing an additional 36 shares in the last quarter. ACT Wealth Management LLC increased its stake in Caterpillar by 4.3% in the 4th quarter. ACT Wealth Management LLC now owns 877 shares of the industrial products company’s stock valued at $259,000 after purchasing an additional 36 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC increased its stake in Caterpillar by 2.0% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 1,893 shares of the industrial products company’s stock valued at $560,000 after purchasing an additional 37 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $310.10, for a total transaction of $3,101,000.00. Following the transaction, the chief financial officer now owns 57,317 shares in the company, valued at $17,774,001.70. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $310.10, for a total transaction of $3,101,000.00. Following the sale, the chief financial officer now directly owns 57,317 shares of the company’s stock, valued at $17,774,001.70. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Anthony D. Fassino sold 4,575 shares of Caterpillar stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $329.80, for a total value of $1,508,835.00. Following the sale, the insider now directly owns 23,474 shares in the company, valued at $7,741,725.20. The disclosure for this sale can be found here. Insiders have sold a total of 45,769 shares of company stock worth $14,509,306 over the last quarter. 0.33% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CAT shares. Robert W. Baird raised their price objective on Caterpillar from $210.00 to $257.00 and gave the company an “underperform” rating in a research note on Tuesday, February 6th. The Goldman Sachs Group raised their price objective on Caterpillar from $357.00 to $408.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Truist Financial started coverage on Caterpillar in a research note on Thursday, March 14th. They issued a “buy” rating and a $390.00 price objective for the company. Oppenheimer reissued a “market perform” rating on shares of Caterpillar in a research report on Thursday, April 18th. Finally, TD Cowen raised their price target on Caterpillar from $300.00 to $338.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Caterpillar currently has an average rating of “Hold” and an average target price of $307.56.

Caterpillar Trading Up 1.6 %

Caterpillar stock traded up $5.78 during midday trading on Tuesday, reaching $363.39. The stock had a trading volume of 1,809,967 shares, compared to its average volume of 2,428,498. Caterpillar Inc. has a twelve month low of $204.04 and a twelve month high of $382.01. The stock has a market capitalization of $181.48 billion, a PE ratio of 17.76, a price-to-earnings-growth ratio of 1.57 and a beta of 1.17. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.87 and a current ratio of 1.35. The stock’s 50-day simple moving average is $347.42 and its 200 day simple moving average is $298.90.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Monday, February 5th. The industrial products company reported $5.23 EPS for the quarter, topping analysts’ consensus estimates of $4.76 by $0.47. The company had revenue of $17.07 billion for the quarter, compared to analysts’ expectations of $17.06 billion. Caterpillar had a return on equity of 56.99% and a net margin of 15.41%. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.86 earnings per share. Analysts expect that Caterpillar Inc. will post 21.41 EPS for the current year.

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, April 22nd will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend is Friday, April 19th. Caterpillar’s dividend payout ratio is presently 25.82%.

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.