Cerity Partners LLC Buys 12,972 Shares of Caterpillar Inc. $CAT

Cerity Partners LLC lifted its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 5.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 270,926 shares of the industrial products company’s stock after purchasing an additional 12,972 shares during the quarter. Cerity Partners LLC’s holdings in Caterpillar were worth $155,267,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Torren Management LLC bought a new position in shares of Caterpillar during the 4th quarter worth approximately $27,000. Frazier Financial Advisors LLC boosted its stake in shares of Caterpillar by 220.0% during the 4th quarter. Frazier Financial Advisors LLC now owns 48 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 33 shares during the period. IFS Advisors LLC bought a new position in shares of Caterpillar during the 4th quarter worth approximately $31,000. Rialto Wealth Management LLC boosted its stake in shares of Caterpillar by 47.4% during the 4th quarter. Rialto Wealth Management LLC now owns 56 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 18 shares during the period. Finally, Noble Wealth Management PBC boosted its stake in shares of Caterpillar by 140.0% during the 4th quarter. Noble Wealth Management PBC now owns 60 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 35 shares during the period. 70.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CAT has been the subject of several research analyst reports. Truist Financial set a $1,043.00 target price on Caterpillar in a research note on Friday, May 1st. Morgan Stanley set a $915.00 target price on Caterpillar and gave the stock an “equal weight” rating in a research note on Friday, May 1st. Evercore restated an “outperform” rating and issued a $1,103.00 price target on shares of Caterpillar in a research note on Monday, May 11th. Barclays increased their price objective on Caterpillar from $700.00 to $800.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Finally, Sanford C. Bernstein increased their price objective on Caterpillar from $769.00 to $879.00 and gave the stock a “market perform” rating in a research report on Friday, May 1st. Sixteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, Caterpillar has a consensus rating of “Moderate Buy” and a consensus price target of $933.27.

Caterpillar Stock Up 1.2%

CAT stock opened at $915.27 on Tuesday. 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 stock has a market capitalization of $421.57 billion, a price-to-earnings ratio of 45.56, a PEG ratio of 1.78 and a beta of 1.59. The business’s fifty day moving average price is $836.25 and its two-hundred day moving average price is $718.16. Caterpillar Inc. has a fifty-two week low of $353.92 and a fifty-two week high of $946.83.

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

Caterpillar Dividend Announcement

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

Insider Transactions at Caterpillar

In other Caterpillar news, insider Anthony D. Fassino sold 16,283 shares of Caterpillar stock in a transaction on Monday, May 11th. The stock was sold at an average price of $916.80, for a total value of $14,928,254.40. Following the completion of the transaction, the insider directly owned 46,041 shares of the company’s stock, valued at $42,210,388.80. The trade was a 26.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Andrew R. J. Bonfield sold 15,674 shares of Caterpillar stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $918.71, for a total value of $14,399,860.54. Following the completion of the transaction, the chief financial officer directly owned 52,935 shares of the company’s stock, valued at $48,631,913.85. This represents a 22.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 95,773 shares of company stock worth $87,642,635. Corporate insiders own 0.33% of the company’s stock.

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.