Myriad Asset Management US LP Buys Shares of 2,647 Caterpillar Inc. $CAT

Myriad Asset Management US LP acquired a new stake in Caterpillar Inc. (NYSE:CAT) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,647 shares of the industrial products company’s stock, valued at approximately $1,263,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CAT. Kilter Group LLC acquired a new position in Caterpillar during the second quarter valued at approximately $27,000. Mid American Wealth Advisory Group Inc. bought a new stake in shares of Caterpillar in the 2nd quarter valued at $28,000. Marquette Asset Management LLC lifted its holdings in Caterpillar by 1,060.0% during the third quarter. Marquette Asset Management LLC now owns 58 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 53 shares in the last quarter. RiverPark Advisors LLC acquired a new position in Caterpillar in the second quarter valued at about $32,000. Finally, Joseph Group Capital Management bought a new stake in shares of Caterpillar in the third quarter worth about $32,000. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Price Performance

Shares of CAT opened at $648.27 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.38 and a debt-to-equity ratio of 1.34. The stock has a market cap of $303.38 billion, a PE ratio of 33.28, a PEG ratio of 2.49 and a beta of 1.57. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $655.78. The business has a 50-day simple moving average of $592.97 and a two-hundred day simple moving average of $508.92.

Caterpillar (NYSE:CAT) last posted its earnings results on Monday, November 3rd. The industrial products company reported $4.95 EPS for the quarter, topping the consensus estimate of $4.52 by $0.43. The business had revenue of $17.64 billion for the quarter, compared to the consensus estimate of $16.72 billion. Caterpillar had a net margin of 14.34% and a return on equity of 47.16%. The firm’s revenue was up 9.5% compared to the same quarter last year. During the same period last year, the company earned $5.17 EPS. Analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 19th. Investors of record on Tuesday, January 20th will be issued a $1.51 dividend. The ex-dividend date is Tuesday, January 20th. This represents a $6.04 annualized dividend and a yield of 0.9%. Caterpillar’s dividend payout ratio is presently 31.01%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Erste Group Bank raised shares of Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. DA Davidson upped their target price on shares of Caterpillar from $408.00 to $569.00 and gave the stock a “neutral” rating in a research note on Monday, November 3rd. Robert W. Baird boosted their price target on Caterpillar from $612.00 to $680.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Oppenheimer boosted their target price on Caterpillar from $645.00 to $700.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. raised their price objective on Caterpillar from $730.00 to $740.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $633.35.

Insider Activity

In other Caterpillar news, insider Jason Kaiser sold 10,707 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $563.60, for a total value of $6,034,465.20. Following the transaction, the insider directly owned 8,649 shares of the company’s stock, valued at approximately $4,874,576.40. The trade was a 55.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Anthony D. Fassino sold 8,184 shares of the stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $570.18, for a total value of $4,666,353.12. Following the completion of the transaction, the insider owned 41,512 shares in the company, valued at approximately $23,669,312.16. The trade was a 16.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 54,729 shares of company stock worth $31,084,308. 0.33% of the stock is owned by insiders.

Caterpillar Company Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off?highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.