Zacks Investment Management Has $151.03 Million Position in Caterpillar Inc. (NYSE:CAT)

Zacks Investment Management lessened its stake in shares of Caterpillar Inc. (NYSE:CAT) by 7.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 416,326 shares of the industrial products company’s stock after selling 32,752 shares during the period. Caterpillar accounts for 1.4% of Zacks Investment Management’s holdings, making the stock its 12th largest position. Zacks Investment Management’s holdings in Caterpillar were worth $151,026,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of CAT. Norges Bank acquired a new position in Caterpillar in the fourth quarter valued at about $2,184,364,000. Raymond James Financial Inc. bought a new stake in shares of Caterpillar during the fourth quarter worth $353,231,000. Proficio Capital Partners LLC lifted its position in Caterpillar by 50,072.7% during the 4th quarter. Proficio Capital Partners LLC now owns 804,770 shares of the industrial products company’s stock worth $291,938,000 after buying an additional 803,166 shares in the last quarter. APG Asset Management N.V. raised its stake in shares of Caterpillar by 1,278.6% in the fourth quarter. APG Asset Management N.V. now owns 440,641 shares of the industrial products company’s stock worth $154,367,000 after acquiring an additional 408,678 shares during the last quarter. Finally, Amundi increased its holdings in shares of Caterpillar by 17.3% in the fourth quarter. Amundi now owns 2,166,087 shares of the industrial products company’s stock valued at $782,109,000 after purchasing an additional 318,891 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the completion of the sale, the chief financial officer now owns 45,182 shares in the company, valued at approximately $17,173,226.38. The trade was a 18.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gerald Johnson bought 100 shares of the stock in a transaction dated Tuesday, February 4th. The shares were acquired at an average price of $365.57 per share, for a total transaction of $36,557.00. Following the completion of the purchase, the director now directly owns 3,053 shares in the company, valued at approximately $1,116,085.21. This trade represents a 3.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.29% of the company’s stock.

Caterpillar Price Performance

Shares of NYSE CAT opened at $293.37 on Wednesday. The stock has a market capitalization of $140.21 billion, a PE ratio of 13.29, a P/E/G ratio of 1.87 and a beta of 1.21. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $418.50. The business has a fifty day moving average price of $331.31 and a two-hundred day moving average price of $365.85.

Caterpillar (NYSE:CAT) last posted its earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share for the quarter, topping 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, equities analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 20th. Stockholders of record on Monday, April 21st will be paid a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend is Monday, April 21st. Caterpillar’s dividend payout ratio is 25.56%.

Analysts Set New Price Targets

CAT has been the topic of several research reports. UBS Group raised Caterpillar from a “sell” rating to a “neutral” rating and upped their price target for the company from $355.00 to $385.00 in a research note on Monday, February 3rd. Truist Financial cut their price objective on shares of Caterpillar from $438.00 to $389.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Raymond James upgraded Caterpillar from a “market perform” rating to an “outperform” rating in a research report on Monday, February 3rd. Evercore ISI upped their price target on Caterpillar from $365.00 to $375.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. Finally, Wedbush raised shares of Caterpillar to an “outperform” rating in a research note on Monday, February 3rd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $365.87.

Caterpillar 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.