Pettyjohn Wood & White Inc. Has $1 Million Stock Position in Caterpillar Inc. $CAT

Pettyjohn Wood & White Inc. lifted its position in shares of Caterpillar Inc. (NYSE:CAT) by 51.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,746 shares of the industrial products company’s stock after buying an additional 593 shares during the quarter. Pettyjohn Wood & White Inc.’s holdings in Caterpillar were worth $1,000,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of CAT. Illinois Municipal Retirement Fund raised its stake in Caterpillar by 7.3% during the third quarter. Illinois Municipal Retirement Fund now owns 17,262 shares of the industrial products company’s stock worth $8,237,000 after acquiring an additional 1,181 shares in the last quarter. Caprock Group LLC acquired a new position in Caterpillar during the third quarter worth about $8,893,000. State of New Jersey Common Pension Fund D raised its stake in Caterpillar by 2.5% during the third quarter. State of New Jersey Common Pension Fund D now owns 165,677 shares of the industrial products company’s stock worth $79,053,000 after acquiring an additional 4,010 shares in the last quarter. Juno Financial Group LLC acquired a new position in Caterpillar during the fourth quarter worth about $877,000. Finally, ARK Investment Management LLC raised its stake in Caterpillar by 11.7% during the third quarter. ARK Investment Management LLC now owns 31,144 shares of the industrial products company’s stock worth $14,860,000 after acquiring an additional 3,268 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on CAT shares. Williams Trading set a $825.00 target price on Caterpillar in a research note on Tuesday, March 10th. Bank of America boosted their target price on Caterpillar from $930.00 to $989.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Daiwa Securities Group boosted their target price on Caterpillar from $790.00 to $900.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Wolfe Research boosted their target price on Caterpillar from $670.00 to $750.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 31st. Finally, DA Davidson boosted their target price on Caterpillar from $650.00 to $845.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Sixteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $933.27.

Caterpillar Stock Performance

Caterpillar stock opened at $915.27 on Tuesday. The business has a 50 day moving average of $836.25 and a 200-day moving average of $718.16. Caterpillar Inc. has a 1 year low of $353.92 and a 1 year high of $946.83. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 0.81. The company has a market capitalization of $421.57 billion, a P/E ratio of 45.56, a P/E/G ratio of 1.78 and a beta of 1.59.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Thursday, April 30th. The industrial products company reported $5.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.65 by $0.89. Caterpillar had a return on equity of 48.21% and a net margin of 13.33%.The company had revenue of $17.42 billion during the quarter, compared to the consensus estimate of $16.53 billion. During the same quarter in the prior year, the firm posted $4.25 earnings per share. The firm’s revenue was up 22.2% compared to the same quarter last year. On average, equities research analysts predict that Caterpillar Inc. will post 24.68 earnings per share for the current year.

Caterpillar Announces Dividend

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

Insider Buying and Selling at Caterpillar

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 15,674 shares of the stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $918.71, for a total transaction of $14,399,860.54. Following the completion of the sale, the chief financial officer owned 52,935 shares of the company’s stock, valued at approximately $48,631,913.85. This represents a 22.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Anthony D. Fassino sold 16,283 shares of the 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 sale, the insider directly owned 46,041 shares of the company’s stock, valued at $42,210,388.80. This represents a 26.13% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 95,773 shares of company stock worth $87,642,635. Company insiders own 0.33% of the company’s stock.

About Caterpillar

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.