Cornerstone Advisory LLC Has $620,000 Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Cornerstone Advisory LLC increased its stake in shares of Caterpillar Inc. (NYSE:CAT) by 2.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,755 shares of the industrial products company’s stock after acquiring an additional 40 shares during the period. Cornerstone Advisory LLC’s holdings in Caterpillar were worth $620,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of CAT. Flagship Wealth Advisors LLC bought a new position in shares of Caterpillar in the fourth quarter valued at $26,000. Halbert Hargrove Global Advisors LLC acquired a new stake in Caterpillar in the fourth quarter valued at $27,000. Cyrus J. Lawrence LLC bought a new position in shares of Caterpillar in the 4th quarter valued at about $27,000. Noble Wealth Management PBC bought a new stake in shares of Caterpillar in the 4th quarter valued at about $31,000. Finally, Quarry LP acquired a new stake in Caterpillar in the 4th quarter valued at about $35,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Caterpillar

In other news, Director David Maclennan acquired 375 shares of the stock in a transaction on Wednesday, May 7th. The stock was acquired at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the completion of the transaction, the director now directly owns 6,653 shares in the company, valued at approximately $2,133,617.10. This trade represents a 5.97% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 0.33% of the stock is owned by insiders.

Caterpillar Price Performance

Shares of Caterpillar stock opened at $345.03 on Friday. 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 stock has a market capitalization of $162.52 billion, a price-to-earnings ratio of 15.63, a price-to-earnings-growth ratio of 1.87 and a beta of 1.35. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $418.50. The company has a 50-day simple moving average of $318.11 and a two-hundred day simple moving average of $353.24.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share for the quarter, missing analysts’ consensus estimates of $4.35 by ($0.10). Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. The business had revenue of $14.25 billion during the quarter, compared to analyst estimates of $14.64 billion. During the same quarter in the previous year, the firm posted $5.60 earnings per share. The firm’s quarterly revenue was down 9.8% on a year-over-year basis. Analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Monday, April 21st were given a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend was Monday, April 21st. Caterpillar’s payout ratio is currently 27.49%.

Analyst Ratings Changes

A number of equities analysts have weighed in on CAT shares. Raymond James raised Caterpillar from a “market perform” rating to an “outperform” rating in a research report on Monday, February 3rd. Truist Financial reissued a “buy” rating and set a $396.00 target price (up from $389.00) on shares of Caterpillar in a report on Thursday, May 1st. JPMorgan Chase & Co. cut their price target on Caterpillar from $490.00 to $380.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Citigroup upped their price objective on shares of Caterpillar from $320.00 to $370.00 and gave the company a “buy” rating in a report on Monday, May 5th. Finally, Wall Street Zen cut shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $375.33.

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.