Hickory Point Bank & Trust Buys 45 Shares of Caterpillar Inc. (NYSE:CAT)

Hickory Point Bank & Trust raised its holdings in Caterpillar Inc. (NYSE:CAT) by 1.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,700 shares of the industrial products company’s stock after buying an additional 45 shares during the quarter. Caterpillar accounts for approximately 0.8% of Hickory Point Bank & Trust’s holdings, making the stock its 26th biggest holding. Hickory Point Bank & Trust’s holdings in Caterpillar were worth $890,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in CAT. Norges Bank bought a new position in Caterpillar in the 4th quarter worth approximately $2,184,364,000. GAMMA Investing LLC grew its holdings in Caterpillar by 43,447.3% during the first quarter. GAMMA Investing LLC now owns 3,730,259 shares of the industrial products company’s stock valued at $1,230,239,000 after purchasing an additional 3,721,693 shares during the period. Capital Research Global Investors raised its stake in Caterpillar by 69.3% during the 4th quarter. Capital Research Global Investors now owns 2,924,054 shares of the industrial products company’s stock worth $1,060,730,000 after buying an additional 1,196,861 shares during the period. Raymond James Financial Inc. acquired a new stake in Caterpillar during the 4th quarter worth approximately $353,231,000. Finally, Proficio Capital Partners LLC lifted its position 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 valued at $291,938,000 after acquiring an additional 803,166 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Caterpillar

In related news, Director David Maclennan bought 375 shares of the company’s stock in a transaction on Wednesday, May 7th. The shares were purchased at an average cost of $320.70 per share, with a total value of $120,262.50. Following the completion of the transaction, the director now directly owns 6,653 shares of the company’s stock, valued at approximately $2,133,617.10. This represents a 5.97% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.33% of the company’s stock.

Caterpillar Stock Up 1.3%

NYSE CAT opened at $353.49 on Friday. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $418.50. The business’s fifty day simple moving average is $320.74 and its 200-day simple moving average is $349.69. The firm has a market cap of $166.51 billion, a PE ratio of 16.02, a P/E/G ratio of 1.87 and a beta of 1.37. 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 announced its earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.35 by ($0.10). The firm had revenue of $14.25 billion during the quarter, compared to analyst estimates of $14.64 billion. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. The firm’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period last year, the company earned $5.60 earnings per share. As a group, equities analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Monday, April 21st were given a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend was Monday, April 21st. Caterpillar’s dividend payout ratio (DPR) is presently 27.49%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Bank of America upped their price objective on Caterpillar from $335.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, May 30th. Morgan Stanley upgraded shares of Caterpillar from an “underweight” rating to an “equal weight” rating and reduced their price objective for the stock from $300.00 to $283.00 in a research note on Wednesday, April 16th. Baird R W upgraded Caterpillar from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 13th. DA Davidson boosted their target price on shares of Caterpillar from $325.00 to $331.00 and gave the stock a “neutral” rating in a research note on Monday, May 5th. Finally, Truist Financial reaffirmed a “buy” rating and set a $396.00 target price (up from $389.00) on shares of Caterpillar in a research report on Thursday, May 1st. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $372.92.

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.