Grandview Asset Management LLC Makes New Investment in Caterpillar Inc. (NYSE:CAT)

Grandview Asset Management LLC purchased a new position in Caterpillar Inc. (NYSE:CAT) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 2,213 shares of the industrial products company’s stock, valued at approximately $803,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Nordea Investment Management AB grew its holdings in shares of Caterpillar by 1.6% during the fourth quarter. Nordea Investment Management AB now owns 635,750 shares of the industrial products company’s stock valued at $231,686,000 after purchasing an additional 10,212 shares during the last quarter. Alpha Cubed Investments LLC increased its position in Caterpillar by 5.6% in the third quarter. Alpha Cubed Investments LLC now owns 116,566 shares of the industrial products company’s stock worth $45,591,000 after buying an additional 6,212 shares during the period. Citizens Financial Group Inc. RI lifted its stake in Caterpillar by 43.0% in the third quarter. Citizens Financial Group Inc. RI now owns 13,902 shares of the industrial products company’s stock valued at $5,437,000 after buying an additional 4,181 shares during the last quarter. First Affirmative Financial Network acquired a new position in shares of Caterpillar during the third quarter valued at $204,000. Finally, Inspire Advisors LLC grew its position in shares of Caterpillar by 25.8% during the third quarter. Inspire Advisors LLC now owns 8,266 shares of the industrial products company’s stock worth $3,233,000 after acquiring an additional 1,694 shares during the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CAT has been the subject of a number of analyst reports. Morgan Stanley lowered shares of Caterpillar from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $349.00 to $332.00 in a research note on Monday, October 14th. JPMorgan Chase & Co. increased their price objective on Caterpillar from $500.00 to $515.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Bank of America lifted their target price on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Evercore ISI raised Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 price target on the stock in a report on Monday. Finally, Truist Financial upped their price objective on shares of Caterpillar from $454.00 to $471.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Caterpillar has an average rating of “Hold” and an average price target of $384.33.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, CAO William E. Schaupp sold 968 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $380.98, for a total transaction of $368,788.64. Following the completion of the sale, the chief accounting officer now directly owns 1,686 shares in the company, valued at approximately $642,332.28. This trade represents a 36.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Cheryl H. Johnson sold 2,664 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $378.84, for a total value of $1,009,229.76. Following the completion of the transaction, the insider now owns 12,951 shares in the company, valued at $4,906,356.84. This represents a 17.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,868 shares of company stock valued at $9,679,489 in the last three months. 0.29% of the stock is currently owned by company insiders.

Caterpillar Stock Performance

Shares of NYSE CAT opened at $362.82 on Tuesday. The stock’s fifty day simple moving average is $381.88 and its 200 day simple moving average is $365.94. The stock has a market capitalization of $175.17 billion, a price-to-earnings ratio of 16.82, a PEG ratio of 1.88 and a beta of 1.10. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. Caterpillar Inc. has a 52-week low of $276.94 and a 52-week high of $418.50.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.33 by ($0.16). Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The company had revenue of $16.11 billion for the quarter, compared to analyst estimates of $16.37 billion. During the same quarter in the previous year, the firm posted $5.52 EPS. Caterpillar’s quarterly revenue was down 4.2% on a year-over-year basis. As a group, sell-side analysts forecast that Caterpillar Inc. will post 21.68 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st will be given a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend is Tuesday, January 21st. Caterpillar’s payout ratio is 26.15%.

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.