Argyle Capital Management LLC Acquires 40 Shares of Caterpillar Inc. (NYSE:CAT)

Argyle Capital Management LLC increased its stake in Caterpillar Inc. (NYSE:CAT) by 0.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,559 shares of the industrial products company’s stock after acquiring an additional 40 shares during the period. Caterpillar makes up approximately 1.7% of Argyle Capital Management LLC’s investment portfolio, making the stock its 14th biggest position. Argyle Capital Management LLC’s holdings in Caterpillar were worth $4,193,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC grew its stake in Caterpillar by 50,072.7% in the 4th quarter. Proficio Capital Partners LLC now owns 804,770 shares of the industrial products company’s stock worth $291,938,000 after acquiring an additional 803,166 shares in the last quarter. Zurich Insurance Group Ltd FI raised its stake in Caterpillar by 4,018.6% in the third quarter. Zurich Insurance Group Ltd FI now owns 255,355 shares of the industrial products company’s stock worth $99,874,000 after buying an additional 249,155 shares in the last quarter. Strategic Financial Concepts LLC lifted its stake in shares of Caterpillar by 36,168.5% during the 4th quarter. Strategic Financial Concepts LLC now owns 227,041 shares of the industrial products company’s stock worth $82,361,000 after purchasing an additional 226,415 shares during the last quarter. Fisher Asset Management LLC raised its holdings in Caterpillar by 2.3% in the third quarter. Fisher Asset Management LLC now owns 8,952,632 shares of the industrial products company’s stock worth $3,501,554,000 after purchasing an additional 205,012 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Caterpillar by 34.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 782,133 shares of the industrial products company’s stock worth $305,908,000 after acquiring an additional 200,210 shares during the last quarter. 70.98% of the stock is owned by institutional investors.

Caterpillar Price Performance

CAT opened at $340.68 on Friday. Caterpillar Inc. has a fifty-two week low of $307.05 and a fifty-two week high of $418.50. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. The company’s 50-day moving average price is $366.43 and its 200 day moving average price is $372.66. The firm has a market cap of $162.82 billion, a price-to-earnings ratio of 15.44, a price-to-earnings-growth ratio of 1.87 and a beta of 1.12.

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

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Tuesday, January 21st were given a $1.41 dividend. This represents a $5.64 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend was Tuesday, January 21st. Caterpillar’s dividend payout ratio (DPR) is currently 25.56%.

Analyst Ratings Changes

CAT has been the subject of a number of analyst reports. DA Davidson upped their price objective on shares of Caterpillar from $350.00 to $357.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Jefferies Financial Group raised their price objective on shares of Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Truist Financial decreased their price target on Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Robert W. Baird upped their price target on Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Caterpillar presently has an average rating of “Hold” and an average target price of $383.80.

Insider Buying and Selling at Caterpillar

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $380.09, for a total value of $3,800,900.00. Following the transaction, the chief financial officer now directly owns 45,182 shares in the company, valued at approximately $17,173,226.38. This trade represents a 18.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Gerald Johnson acquired 100 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were bought at an average price of $398.57 per share, for a total transaction of $39,857.00. Following the acquisition, the director now owns 2,953 shares in the company, valued at approximately $1,176,977.21. This trade represents a 3.51 % increase in their position. The disclosure for this purchase can be found here. 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.