Drake & Associates LLC Invests $280,000 in Caterpillar Inc. (NYSE:CAT)

Drake & Associates LLC bought a new position in shares of Caterpillar Inc. (NYSE:CAT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 948 shares of the industrial products company’s stock, valued at approximately $280,000.

Several other large investors have also recently bought and sold shares of the company. Atlas Capital Advisors LLC increased its holdings in Caterpillar by 272.4% during the first quarter. Atlas Capital Advisors LLC now owns 108 shares of the industrial products company’s stock worth $25,000 after buying an additional 79 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its position in Caterpillar by 730.8% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 108 shares of the industrial products company’s stock worth $25,000 after buying an additional 95 shares in the last quarter. Gilfoyle & Co LLC bought a new position in shares of Caterpillar in the fourth quarter worth $30,000. A.P. Gilfoyle & Co. L.P. acquired a new position in shares of Caterpillar in the 4th quarter valued at approximately $30,000. Finally, First Capital Advisors Group LLC. acquired a new stake in shares of Caterpillar in the 2nd quarter valued at $30,000. Institutional investors own 70.98% of the company’s stock.

Insider Activity at Caterpillar

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $300.04, for a total transaction of $3,000,400.00. Following the completion of the transaction, the chief financial officer now directly owns 67,317 shares of the company’s stock, valued at $20,197,792.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $300.04, for a total transaction of $3,000,400.00. Following the completion of the sale, the chief financial officer now owns 67,317 shares of the company’s stock, valued at approximately $20,197,792.68. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Anthony D. Fassino sold 4,575 shares of the company’s stock in a transaction that occurred on 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 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. Insiders sold 45,769 shares of company stock valued at $14,509,306 over the last three months. 0.33% of the stock is owned by corporate insiders.

Caterpillar Stock Performance

Shares of NYSE:CAT traded up $2.20 during trading on Monday, hitting $367.83. The stock had a trading volume of 486,081 shares, compared to its average volume of 2,412,572. The stock has a 50-day simple moving average of $342.95 and a two-hundred day simple moving average of $295.12. The stock has a market capitalization of $183.69 billion, a price-to-earnings ratio of 18.15, a price-to-earnings-growth ratio of 1.63 and a beta of 1.17. The company has a quick ratio of 0.87, a current ratio of 1.35 and a debt-to-equity ratio of 1.25. Caterpillar Inc. has a 12-month low of $204.04 and a 12-month high of $382.01.

Caterpillar (NYSE:CAT) last released its earnings results on Monday, February 5th. The industrial products company reported $5.23 earnings per share for the quarter, beating the consensus estimate of $4.76 by $0.47. The business had revenue of $17.07 billion for the quarter, compared to the consensus estimate of $17.06 billion. Caterpillar had a return on equity of 56.99% and a net margin of 15.41%. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the business posted $3.86 earnings per share. On average, equities research analysts expect that Caterpillar Inc. will post 21.33 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, April 22nd will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 1.41%. The ex-dividend date is Friday, April 19th. Caterpillar’s dividend payout ratio (DPR) is presently 25.82%.

Analysts Set New Price Targets

Several brokerages have issued reports on CAT. JPMorgan Chase & Co. upped their price target on shares of Caterpillar from $345.00 to $385.00 and gave the company an “overweight” rating in a research report on Tuesday, February 6th. TD Cowen lifted their price objective on Caterpillar from $300.00 to $338.00 and gave the stock an “outperform” rating in a report on Tuesday, February 6th. Stifel Nicolaus raised their price target on shares of Caterpillar from $285.00 to $293.00 and gave the company a “buy” rating in a report on Tuesday, December 19th. Wells Fargo & Company increased their price target on shares of Caterpillar from $290.00 to $325.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. Finally, The Goldman Sachs Group lifted their price objective on Caterpillar from $274.00 to $357.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Caterpillar presently has a consensus rating of “Hold” and a consensus target price of $301.94.

Caterpillar Company 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.