AlTi Global Inc. Acquires 950 Shares of Caterpillar Inc. $CAT

AlTi Global Inc. grew its holdings in Caterpillar Inc. (NYSE:CAT) by 10.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 9,711 shares of the industrial products company’s stock after acquiring an additional 950 shares during the period. AlTi Global Inc.’s holdings in Caterpillar were worth $4,634,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CAT. Marquette Asset Management LLC increased its stake in shares of Caterpillar by 1,060.0% in the 3rd 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. Joseph Group Capital Management bought a new position in shares of Caterpillar during the third quarter valued at approximately $32,000. Kilter Group LLC purchased a new position in shares of 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 worth approximately $28,000. Finally, Sellwood Investment Partners LLC purchased a new stake in shares of Caterpillar in the 3rd quarter worth approximately $35,000. Institutional investors own 70.98% of the company’s stock.

Caterpillar Trading Up 2.2%

Caterpillar stock opened at $742.51 on Tuesday. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $743.50. The firm’s 50 day moving average price is $620.65 and its 200-day moving average price is $532.69. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.44 and a quick ratio of 0.94. The stock has a market cap of $347.48 billion, a P/E ratio of 39.45, a PEG ratio of 1.72 and a beta of 1.58.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Thursday, January 29th. The industrial products company reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.67 by $0.49. Caterpillar had a net margin of 13.14% and a return on equity of 45.76%. The company had revenue of $19.13 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same period in the previous year, the firm posted $5.14 EPS. Caterpillar’s revenue for the quarter was up 17.9% compared to the same quarter last year. On average, equities analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 19th. Investors of record on Tuesday, January 20th will be issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, January 20th. Caterpillar’s dividend payout ratio is presently 32.09%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Wolfe Research boosted their target price on Caterpillar from $470.00 to $670.00 and gave the stock an “outperform” rating in a report on Friday, January 2nd. Barclays raised their price target on shares of Caterpillar from $610.00 to $625.00 and gave the company an “equal weight” rating in a research report on Friday, January 30th. Evercore upped their price objective on Caterpillar from $476.00 to $630.00 and gave the company an “outperform” rating in a research report on Monday, November 17th. Raymond James Financial restated a “market perform” rating on shares of Caterpillar in a research note on Wednesday, January 7th. Finally, Truist Financial lifted their price objective on Caterpillar from $729.00 to $786.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Sixteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $690.90.

Insider Activity

In other news, insider Anthony D. Fassino sold 6,033 shares of the business’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $722.15, for a total transaction of $4,356,730.95. Following the completion of the sale, the insider directly owned 41,151 shares of the company’s stock, valued at approximately $29,717,194.65. The trade was a 12.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Lange Bob De sold 22,656 shares of the firm’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $720.11, for a total transaction of $16,314,812.16. Following the completion of the transaction, the insider directly owned 79,953 shares in the company, valued at $57,574,954.83. This represents a 22.08% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 130,545 shares of company stock valued at $88,294,733. Company insiders own 0.33% of the company’s stock.

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.