Bleakley Financial Group LLC Buys 2,131 Shares of Caterpillar Inc. $CAT

Bleakley Financial Group LLC boosted its holdings in Caterpillar Inc. (NYSE:CAT) by 10.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 23,424 shares of the industrial products company’s stock after acquiring an additional 2,131 shares during the quarter. Bleakley Financial Group LLC’s holdings in Caterpillar were worth $13,419,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Torren Management LLC bought a new position in Caterpillar in the 4th quarter valued at about $27,000. Frazier Financial Advisors LLC lifted its position in Caterpillar by 220.0% in the 4th quarter. Frazier Financial Advisors LLC now owns 48 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 33 shares in the last quarter. IFS Advisors LLC bought a new position in Caterpillar in the 4th quarter valued at about $31,000. Rialto Wealth Management LLC lifted its position in Caterpillar by 47.4% in the 4th quarter. Rialto Wealth Management LLC now owns 56 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 18 shares in the last quarter. Finally, Noble Wealth Management PBC lifted its position in Caterpillar by 140.0% in the 4th quarter. Noble Wealth Management PBC now owns 60 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 35 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Insider Activity at Caterpillar

In other news, insider Anthony D. Fassino sold 16,283 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $916.80, for a total transaction of $14,928,254.40. Following the completion of the sale, the insider owned 46,041 shares in the company, valued at $42,210,388.80. This trade represents a 26.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Lange Bob De sold 24,222 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $922.92, for a total transaction of $22,354,968.24. Following the sale, the insider owned 86,029 shares of the company’s stock, valued at approximately $79,397,884.68. The trade was a 21.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 98,273 shares of company stock worth $89,439,960 over the last 90 days. Corporate insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

CAT has been the topic of several recent research reports. Wells Fargo & Company raised their price target on shares of Caterpillar from $960.00 to $1,050.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Morgan Stanley set a $915.00 price target on shares of Caterpillar and gave the company an “equal weight” rating in a research report on Friday, May 1st. Sanford C. Bernstein raised their price target on shares of Caterpillar from $769.00 to $879.00 and gave the company a “market perform” rating in a research report on Friday, May 1st. Williams Trading set a $825.00 price target on shares of Caterpillar in a research report on Tuesday, March 10th. Finally, Citigroup lifted their target price on shares of Caterpillar from $905.00 to $1,020.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Sixteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $923.14.

Caterpillar Trading Up 0.0%

Shares of CAT stock opened at $880.23 on Tuesday. The company has a 50 day moving average of $795.32 and a 200-day moving average of $694.03. The company has a quick ratio of 0.81, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. Caterpillar Inc. has a 12-month low of $336.24 and a 12-month high of $931.35. The firm has a market cap of $405.42 billion, a P/E ratio of 43.81, a PEG ratio of 1.74 and a beta of 1.63.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Thursday, April 30th. The industrial products company reported $5.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.65 by $0.89. Caterpillar had a net margin of 13.33% and a return on equity of 48.21%. The company had revenue of $17.42 billion during the quarter, compared to analyst estimates of $16.53 billion. During the same quarter last year, the business posted $4.25 EPS. Caterpillar’s quarterly revenue was up 22.2% compared to the same quarter last year. Sell-side analysts anticipate that Caterpillar Inc. will post 24.67 earnings per share for the current year.

Caterpillar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 19th. Stockholders of record on Monday, April 20th were paid a dividend of $1.51 per share. The ex-dividend date was Monday, April 20th. This represents a $6.04 annualized dividend and a dividend yield of 0.7%. Caterpillar’s dividend payout ratio (DPR) is presently 30.06%.

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.