Caterpillar Inc. (NYSE:CAT) Shares Acquired by Transcendent Capital Group LLC

Transcendent Capital Group LLC boosted its position in shares of Caterpillar Inc. (NYSE:CAT) by 24.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,648 shares of the industrial products company’s stock after acquiring an additional 324 shares during the period. Transcendent Capital Group LLC’s holdings in Caterpillar were worth $598,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Retirement Wealth Solutions LLC purchased a new stake in shares of Caterpillar during the fourth quarter worth about $34,000. Capital Performance Advisors LLP acquired a new stake in Caterpillar during the 3rd quarter valued at approximately $36,000. Albion Financial Group UT increased its holdings in Caterpillar by 334.8% during the 4th quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 77 shares during the last quarter. Kimelman & Baird LLC raised its position in shares of Caterpillar by 42.9% in the 3rd quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 30 shares in the last quarter. Finally, Trivant Custom Portfolio Group LLC boosted its stake in shares of Caterpillar by 130.0% during the 4th quarter. Trivant Custom Portfolio Group LLC now owns 115 shares of the industrial products company’s stock valued at $42,000 after buying an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Activity at Caterpillar

In other news, Director Gerald Johnson purchased 100 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was purchased at an average cost of $365.57 per share, with a total value of $36,557.00. Following the purchase, the director now owns 3,053 shares in the company, valued at $1,116,085.21. This trade represents a 3.39 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jason Kaiser sold 2,425 shares of Caterpillar stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total value of $860,147.50. Following the transaction, the insider now owns 6,275 shares in the company, valued at approximately $2,225,742.50. This trade represents a 27.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,704 shares of company stock worth $7,226,584 in the last 90 days. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

CAT has been the topic of several recent analyst reports. Jefferies Financial Group upped their price target on shares of Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a report on Friday, December 6th. JPMorgan Chase & Co. reduced their price target on shares of Caterpillar from $515.00 to $490.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Bank of America lowered their price objective on Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a report on Friday, January 31st. Wedbush raised Caterpillar to an “outperform” rating in a report on Monday, February 3rd. Finally, Truist Financial lowered their price target on Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $383.80.

Caterpillar Trading Down 0.4 %

Caterpillar stock opened at $338.65 on Tuesday. The firm has a 50-day moving average price of $368.73 and a two-hundred day moving average price of $373.05. Caterpillar Inc. has a 52-week low of $307.05 and a 52-week high of $418.50. The firm has a market capitalization of $161.85 billion, a price-to-earnings ratio of 15.34, a PEG ratio of 1.87 and a beta of 1.12. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40.

Caterpillar (NYSE:CAT) last posted its earnings results on Thursday, January 30th. The industrial products company reported $5.14 EPS for the quarter, beating the consensus estimate of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. Sell-side analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Tuesday, January 21st were issued a $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend was Tuesday, January 21st. Caterpillar’s payout ratio is currently 25.56%.

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.