ABC Arbitrage SA Invests $997,000 in Caterpillar Inc. (NYSE:CAT)

ABC Arbitrage SA acquired a new stake in Caterpillar Inc. (NYSE:CAT) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,747 shares of the industrial products company’s stock, valued at approximately $997,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of CAT. International Assets Investment Management LLC raised its holdings in Caterpillar by 39,534.0% in the 3rd quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock valued at $8,356,930,000 after buying an additional 2,131,276 shares during the period. Zurich Insurance Group Ltd FI raised its holdings in Caterpillar by 4,018.6% in the 3rd quarter. Zurich Insurance Group Ltd FI now owns 255,355 shares of the industrial products company’s stock valued at $99,874,000 after buying an additional 249,155 shares during the period. Strategic Financial Concepts LLC grew its position in Caterpillar by 36,168.5% in the 4th quarter. Strategic Financial Concepts LLC now owns 227,041 shares of the industrial products company’s stock valued at $82,361,000 after acquiring an additional 226,415 shares in the last quarter. Fisher Asset Management LLC grew its position in Caterpillar by 2.3% in the 3rd quarter. Fisher Asset Management LLC now owns 8,952,632 shares of the industrial products company’s stock valued at $3,501,554,000 after acquiring an additional 205,012 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in Caterpillar by 34.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 782,133 shares of the industrial products company’s stock valued at $305,908,000 after acquiring an additional 200,210 shares in the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Caterpillar

In other news, Director Gerald Johnson acquired 100 shares of Caterpillar stock in a transaction on Wednesday, December 4th. The stock was bought at an average price of $398.57 per share, for a total transaction of $39,857.00. Following the completion of the purchase, the director now owns 2,953 shares in the company, valued at $1,176,977.21. This represents a 3.51 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Anthony D. Fassino sold 6,279 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $408.59, for a total value of $2,565,536.61. Following the completion of the sale, the insider now owns 33,565 shares of the company’s stock, valued at approximately $13,714,323.35. This represents a 15.76 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is owned by company insiders.

Caterpillar Stock Performance

Shares of CAT opened at $353.31 on Friday. The stock has a 50 day moving average price of $372.47 and a 200 day moving average price of $371.96. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $170.58 billion, a price-to-earnings ratio of 16.01, a price-to-earnings-growth ratio of 1.94 and a beta of 1.12. Caterpillar Inc. has a 52-week low of $307.05 and a 52-week high of $418.50.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $5.14 earnings per share for the quarter, beating analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. Research analysts predict that Caterpillar Inc. will post 20.05 EPS for the current fiscal year.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st will be paid a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Tuesday, January 21st. Caterpillar’s dividend payout ratio is currently 25.56%.

Analyst Ratings Changes

Several research firms have weighed in on CAT. Truist Financial dropped their target price on Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Jefferies Financial Group lifted their target price on Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Bank of America dropped their target price on Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a research report on Friday, January 31st. JPMorgan Chase & Co. dropped their target price on Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Finally, Robert W. Baird boosted their price objective on Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $383.13.

About Caterpillar

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.