Jennison Associates LLC Boosts Holdings in Caterpillar Inc. (NYSE:CAT)

Jennison Associates LLC boosted its position in Caterpillar Inc. (NYSE:CAT) by 108.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 211,953 shares of the industrial products company’s stock after buying an additional 110,108 shares during the period. Jennison Associates LLC’s holdings in Caterpillar were worth $62,668,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CAT. Gilfoyle & Co LLC purchased a new position in Caterpillar in the 4th quarter valued at $30,000. Fortitude Family Office LLC acquired a new stake in Caterpillar in the fourth quarter valued at $39,000. Authentikos Wealth Advisory LLC acquired a new stake in Caterpillar in the third quarter valued at $41,000. Rational Advisors LLC acquired a new stake in Caterpillar in the third quarter valued at $42,000. Finally, Milestone Investment Advisors LLC acquired a new stake in Caterpillar in the third quarter valued at $44,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Caterpillar

In related news, insider Lange Bob De sold 21,194 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $325.52, for a total transaction of $6,899,070.88. Following the sale, the insider now directly owns 61,092 shares of the company’s stock, valued at approximately $19,886,667.84. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Lange Bob De sold 21,194 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $325.52, for a total transaction of $6,899,070.88. Following the completion of the transaction, the insider now directly owns 61,092 shares in the company, valued at approximately $19,886,667.84. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $310.10, for a total value of $3,101,000.00. Following the transaction, the chief financial officer now owns 57,317 shares of the company’s stock, valued at $17,774,001.70. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,769 shares of company stock valued at $14,509,306. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on CAT. Citigroup lifted their price target on Caterpillar from $255.00 to $340.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. Oppenheimer reaffirmed a “market perform” rating on shares of Caterpillar in a research note on Thursday, April 18th. Truist Financial began coverage on Caterpillar in a research note on Thursday, March 14th. They set a “buy” rating and a $390.00 price target for the company. The Goldman Sachs Group lifted their price target on Caterpillar from $357.00 to $408.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, TD Cowen lifted their price objective on Caterpillar from $300.00 to $338.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Caterpillar currently has a consensus rating of “Hold” and a consensus price target of $307.56.

Caterpillar Stock Up 1.6 %

Shares of NYSE:CAT opened at $363.39 on Wednesday. The stock has a 50-day simple moving average of $348.44 and a 200-day simple moving average of $299.59. The stock has a market capitalization of $181.48 billion, a P/E ratio of 18.04, a PEG ratio of 1.59 and a beta of 1.17. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.87 and a current ratio of 1.35. Caterpillar Inc. has a 1 year low of $204.04 and a 1 year high of $382.01.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Monday, February 5th. The industrial products company reported $5.23 EPS for the quarter, topping the consensus estimate of $4.76 by $0.47. The firm had revenue of $17.07 billion for the quarter, compared to analyst estimates of $17.06 billion. Caterpillar had a return on equity of 56.99% and a net margin of 15.41%. Caterpillar’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $3.86 EPS. Equities analysts forecast that Caterpillar Inc. will post 21.32 earnings per share for the current year.

Caterpillar Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, April 22nd will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 1.43%. The ex-dividend date is Friday, April 19th. Caterpillar’s dividend payout ratio is currently 25.82%.

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.