Narwhal Capital Management Has $9 Million Stake in Caterpillar Inc. (NYSE:CAT)

Narwhal Capital Management lifted its position in shares of Caterpillar Inc. (NYSE:CAT) by 9.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,809 shares of the industrial products company’s stock after acquiring an additional 2,235 shares during the period. Narwhal Capital Management’s holdings in Caterpillar were worth $9,000,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Nordea Investment Management AB boosted its holdings in shares of Caterpillar by 1.6% in the 4th quarter. Nordea Investment Management AB now owns 635,750 shares of the industrial products company’s stock valued at $231,686,000 after purchasing an additional 10,212 shares in the last quarter. Alpha Cubed Investments LLC grew its position in Caterpillar by 5.6% in the third quarter. Alpha Cubed Investments LLC now owns 116,566 shares of the industrial products company’s stock valued at $45,591,000 after acquiring an additional 6,212 shares during the last quarter. Citizens Financial Group Inc. RI raised its stake in Caterpillar by 43.0% during the third quarter. Citizens Financial Group Inc. RI now owns 13,902 shares of the industrial products company’s stock worth $5,437,000 after acquiring an additional 4,181 shares in the last quarter. Cadinha & Co. LLC acquired a new stake in shares of Caterpillar in the 4th quarter valued at approximately $11,084,000. Finally, First Affirmative Financial Network acquired a new position in Caterpillar during the 3rd quarter worth approximately $204,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Price Performance

Shares of CAT opened at $407.95 on Monday. The firm has a market cap of $196.96 billion, a PE ratio of 18.91, a price-to-earnings-growth ratio of 1.97 and a beta of 1.13. Caterpillar Inc. has a 52-week low of $293.13 and a 52-week high of $418.50. The business’s 50 day moving average price is $381.07 and its two-hundred day moving average price is $369.50. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40.

Caterpillar (NYSE:CAT) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.33 by ($0.16). Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The company had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. During the same period in the prior year, the company earned $5.52 earnings per share. The firm’s revenue was down 4.2% compared to the same quarter last year. On average, equities analysts anticipate that Caterpillar Inc. will post 21.69 EPS for the current year.

Caterpillar Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Tuesday, January 21st will be paid a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Tuesday, January 21st. Caterpillar’s dividend payout ratio (DPR) is currently 26.15%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. UBS Group increased their price target on Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a research note on Monday, November 4th. Jefferies Financial Group lifted their price target on Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Morgan Stanley downgraded Caterpillar from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $349.00 to $332.00 in a research note on Monday, October 14th. Truist Financial cut their target price on shares of Caterpillar from $471.00 to $455.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Finally, Bank of America raised their price target on shares of Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $380.60.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Director Gerald Johnson purchased 100 shares of Caterpillar stock in a transaction that occurred on Wednesday, December 4th. The stock was acquired at an average price of $398.57 per share, with a total value of $39,857.00. Following the transaction, the director now owns 2,953 shares in the company, valued at $1,176,977.21. This trade represents a 3.51 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel M. Dickinson sold 1,300 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $418.00, for a total transaction of $543,400.00. Following the transaction, the director now owns 4,976 shares in the company, valued at approximately $2,079,968. The trade was a 20.71 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,868 shares of company stock valued at $13,480,389. Company insiders own 0.29% of the company’s stock.

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.