K.J. Harrison & Partners Inc Buys New Position in Caterpillar Inc. (NYSE:CAT)

K.J. Harrison & Partners Inc purchased a new position in shares of Caterpillar Inc. (NYSE:CAT) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 4,000 shares of the industrial products company’s stock, valued at approximately $1,183,000.

Other hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC increased its position in shares of Caterpillar by 28,603.5% in the fourth quarter. International Assets Investment Management LLC now owns 1,494,018 shares of the industrial products company’s stock valued at $4,417,360,000 after acquiring an additional 1,488,813 shares during the last quarter. Winslow Capital Management LLC boosted its holdings in shares of Caterpillar by 2,265.3% in the 3rd quarter. Winslow Capital Management LLC now owns 1,117,830 shares of the industrial products company’s stock valued at $305,168,000 after buying an additional 1,070,570 shares during the last quarter. FMR LLC grew its stake in shares of Caterpillar by 14.9% in the third quarter. FMR LLC now owns 6,038,207 shares of the industrial products company’s stock valued at $1,648,431,000 after buying an additional 781,111 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its holdings in Caterpillar by 5,293.1% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 482,360 shares of the industrial products company’s stock worth $142,620,000 after buying an additional 473,416 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new stake in Caterpillar in the third quarter valued at $101,872,000. 70.98% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CAT shares. Wells Fargo & Company upped their target price on shares of Caterpillar from $290.00 to $325.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. Stifel Nicolaus cut Caterpillar from a “buy” rating to a “hold” rating and increased their price target for the company from $293.00 to $350.00 in a research note on Friday. StockNews.com downgraded shares of Caterpillar from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 20th. Morgan Stanley initiated coverage on Caterpillar in a research note on Monday, January 8th. They set an “equal weight” rating and a $270.00 target price on the stock. Finally, Truist Financial started coverage on Caterpillar in a research note on Thursday, March 14th. They issued a “buy” rating and a $390.00 price target for the company. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $310.83.

Insider Transactions at Caterpillar

In other Caterpillar news, insider Anthony D. Fassino sold 4,575 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $329.80, for a total value of $1,508,835.00. Following the completion of the sale, the insider now owns 23,474 shares in the company, valued at approximately $7,741,725.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $310.10, for a total transaction of $3,101,000.00. Following the completion of the sale, the chief financial officer now owns 57,317 shares in the company, valued at $17,774,001.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Anthony D. Fassino sold 4,575 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $329.80, for a total transaction of $1,508,835.00. Following the sale, the insider now owns 23,474 shares of the company’s stock, valued at approximately $7,741,725.20. The disclosure for this sale can be found here. Insiders sold a total of 35,769 shares of company stock worth $11,508,906 in the last quarter. 0.33% of the stock is currently owned by corporate insiders.

Caterpillar Stock Up 1.6 %

CAT traded up $5.38 during midday trading on Friday, hitting $343.38. The company had a trading volume of 3,324,630 shares, compared to its average volume of 2,414,735. The company has a market capitalization of $171.48 billion, a price-to-earnings ratio of 15.50, a PEG ratio of 1.51 and a beta of 1.17. The stock’s 50 day moving average price is $350.10 and its 200 day moving average price is $300.80. The company has a quick ratio of 0.87, a current ratio of 1.35 and a debt-to-equity ratio of 1.41. Caterpillar Inc. has a 52 week low of $204.04 and a 52 week high of $382.01.

Caterpillar (NYSE:CAT) last posted its earnings results on Thursday, April 25th. The industrial products company reported $5.60 EPS for the quarter, topping the consensus estimate of $5.12 by $0.48. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. The company had revenue of $15.80 billion during the quarter, compared to the consensus estimate of $16.07 billion. On average, research analysts anticipate that Caterpillar Inc. will post 21.3 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, April 22nd will be issued a dividend of $1.30 per share. The ex-dividend date is Friday, April 19th. This represents a $5.20 annualized dividend and a yield of 1.51%. Caterpillar’s dividend payout ratio (DPR) is currently 23.48%.

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.