NewEdge Wealth LLC Acquires 2,861 Shares of Caterpillar Inc. $CAT

NewEdge Wealth LLC raised its holdings in Caterpillar Inc. (NYSE:CAT) by 48.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,709 shares of the industrial products company’s stock after purchasing an additional 2,861 shares during the quarter. NewEdge Wealth LLC’s holdings in Caterpillar were worth $4,989,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Torren Management LLC bought a new position in Caterpillar in the fourth quarter valued at about $27,000. IFS Advisors LLC acquired a new position in Caterpillar during the fourth quarter worth about $31,000. Rialto Wealth Management LLC raised its stake in Caterpillar by 47.4% during the fourth quarter. Rialto Wealth Management LLC now owns 56 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 18 shares in the last quarter. Marquette Asset Management LLC raised its stake in Caterpillar by 1,060.0% during the third quarter. Marquette Asset Management LLC now owns 58 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 53 shares in the last quarter. Finally, Noble Wealth Management PBC raised its stake in Caterpillar by 140.0% during the fourth quarter. Noble Wealth Management PBC now owns 60 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 35 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Jason Kaiser sold 5,642 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $883.03, for a total value of $4,982,055.26. Following the sale, the insider directly owned 9,594 shares in the company, valued at $8,471,789.82. This represents a 37.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Lange Bob De sold 24,222 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $922.92, for a total value of $22,354,968.24. Following the completion of the sale, the insider owned 86,029 shares in the company, valued at $79,397,884.68. The trade was a 21.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 75,734 shares of company stock valued at $67,054,613 over the last three months. Insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

CAT has been the subject of several research analyst reports. Wells Fargo & Company boosted their target price on Caterpillar from $960.00 to $1,050.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. JPMorgan Chase & Co. boosted their target price on Caterpillar from $860.00 to $1,125.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Robert W. Baird boosted their target price on Caterpillar from $940.00 to $1,165.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. Royal Bank Of Canada boosted their target price on Caterpillar from $587.00 to $658.00 and gave the stock a “sector perform” rating in a research note on Friday, January 30th. Finally, Barclays boosted their target price on Caterpillar from $700.00 to $800.00 and gave the stock an “equal weight” rating in a research note on Friday, May 1st. Sixteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $911.77.

Caterpillar Stock Performance

Caterpillar stock opened at $925.54 on Tuesday. The business has a 50 day moving average of $761.80 and a 200-day moving average of $670.30. Caterpillar Inc. has a 1 year low of $336.24 and a 1 year high of $931.35. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 0.81. The company has a market capitalization of $426.30 billion, a P/E ratio of 46.07, a P/E/G ratio of 1.80 and a beta of 1.63.

Caterpillar (NYSE:CAT) last announced its earnings results on Thursday, April 30th. The industrial products company reported $5.54 EPS for the quarter, beating the consensus estimate of $4.65 by $0.89. Caterpillar had a return on equity of 48.21% and a net margin of 13.33%.The business had revenue of $17.42 billion for the quarter, compared to analysts’ expectations of $16.53 billion. During the same period in the prior year, the business posted $4.25 earnings per share. The firm’s revenue was up 22.2% on a year-over-year basis. On average, equities research analysts predict that Caterpillar Inc. will post 24.21 earnings per share for the current year.

Caterpillar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 19th. Investors of record on Monday, April 20th will be issued a $1.51 dividend. The ex-dividend date is Monday, April 20th. This represents a $6.04 annualized dividend and a yield of 0.7%. Caterpillar’s dividend payout ratio is presently 30.06%.

About Caterpillar

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off?highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.