US Asset Management LLC Makes New Investment in Caterpillar Inc. (NYSE:CAT)

US Asset Management LLC acquired a new stake in Caterpillar Inc. (NYSE:CAT) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,767 shares of the industrial products company’s stock, valued at approximately $1,114,000. Caterpillar accounts for about 1.1% of US Asset Management LLC’s holdings, making the stock its 22nd biggest position.

Several other large investors have also bought and sold shares of CAT. Waterway Wealth Management LLC acquired a new position in Caterpillar in the fourth quarter worth approximately $352,000. Farmers Trust Co. grew its holdings in shares of Caterpillar by 2.7% in the 4th quarter. Farmers Trust Co. now owns 4,490 shares of the industrial products company’s stock worth $1,328,000 after acquiring an additional 120 shares during the last quarter. Firethorn Wealth Partners LLC lifted its holdings in shares of Caterpillar by 19.4% during the fourth quarter. Firethorn Wealth Partners LLC now owns 1,825 shares of the industrial products company’s stock valued at $540,000 after purchasing an additional 296 shares during the last quarter. Axxcess Wealth Management LLC boosted its position in shares of Caterpillar by 20.0% in the 4th quarter. Axxcess Wealth Management LLC now owns 21,343 shares of the industrial products company’s stock valued at $6,310,000 after purchasing an additional 3,558 shares during the period. Finally, Panagora Asset Management Inc. increased its stake in Caterpillar by 16.7% in the 3rd quarter. Panagora Asset Management Inc. now owns 367,655 shares of the industrial products company’s stock worth $100,370,000 after purchasing an additional 52,576 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CAT shares. The Goldman Sachs Group lifted their target price on shares of Caterpillar from $357.00 to $408.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Truist Financial initiated coverage on Caterpillar in a report on Thursday, March 14th. They issued a “buy” rating and a $390.00 target price for the company. Citigroup increased their price objective on Caterpillar from $255.00 to $340.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. Robert W. Baird increased their price target on shares of Caterpillar from $210.00 to $257.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 6th. Finally, JPMorgan Chase & Co. boosted their target price on Caterpillar from $385.00 to $435.00 and gave the company an “overweight” rating in a research note on Tuesday, April 16th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $323.35.

Caterpillar Trading Up 1.2 %

Caterpillar stock traded up $4.37 during mid-day trading on Friday, hitting $356.15. 1,007,619 shares of the company’s stock were exchanged, compared to its average volume of 2,490,714. Caterpillar Inc. has a fifty-two week low of $205.60 and a fifty-two week high of $382.01. The company’s 50 day simple moving average is $353.23 and its 200-day simple moving average is $305.54. The firm has a market capitalization of $174.18 billion, a P/E ratio of 15.96, a PEG ratio of 1.44 and a beta of 1.19. The company has a quick ratio of 0.83, a current ratio of 1.35 and a debt-to-equity ratio of 1.41.

Caterpillar (NYSE:CAT) last released its earnings results on Thursday, April 25th. The industrial products company reported $5.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.12 by $0.48. The firm had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $16.07 billion. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. On average, equities analysts anticipate that Caterpillar Inc. will post 21.79 earnings per share for the current year.

Caterpillar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, April 22nd will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Friday, April 19th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 1.46%. Caterpillar’s dividend payout ratio is 23.48%.

Insider Activity

In other Caterpillar news, Director David Maclennan acquired 350 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were purchased at an average price of $323.37 per share, for a total transaction of $113,179.50. Following the completion of the purchase, the director now directly owns 5,238 shares of the company’s stock, valued at $1,693,812.06. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Caterpillar news, Director David Maclennan acquired 350 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was acquired at an average price of $323.37 per share, for a total transaction of $113,179.50. Following the purchase, the director now directly owns 5,238 shares of the company’s stock, valued at $1,693,812.06. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 transaction, 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. 0.33% of the stock is owned by corporate insiders.

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.