CIBC Asset Management Inc Acquires 3,162 Shares of Caterpillar Inc. (NYSE:CAT)

CIBC Asset Management Inc boosted its stake in shares of Caterpillar Inc. (NYSE:CAT) by 4.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 75,905 shares of the industrial products company’s stock after purchasing an additional 3,162 shares during the quarter. CIBC Asset Management Inc’s holdings in Caterpillar were worth $27,535,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CAT. Highview Capital Management LLC DE raised its holdings in Caterpillar by 29.4% in the 4th quarter. Highview Capital Management LLC DE now owns 1,320 shares of the industrial products company’s stock worth $479,000 after acquiring an additional 300 shares during the period. Woodard & Co. Asset Management Group Inc. ADV increased its stake in shares of Caterpillar by 4.0% in the fourth quarter. Woodard & Co. Asset Management Group Inc. ADV now owns 4,812 shares of the industrial products company’s stock worth $1,745,000 after purchasing an additional 186 shares during the period. Rational Advisors LLC boosted its stake in Caterpillar by 1,188.5% during the 4th quarter. Rational Advisors LLC now owns 1,675 shares of the industrial products company’s stock valued at $608,000 after purchasing an additional 1,545 shares during the period. Catalyst Capital Advisors LLC grew its holdings in Caterpillar by 626.0% in the 4th quarter. Catalyst Capital Advisors LLC now owns 363 shares of the industrial products company’s stock valued at $132,000 after buying an additional 313 shares during the last quarter. Finally, Total Investment Management Inc. increased its position in Caterpillar by 64.6% in the 4th quarter. Total Investment Management Inc. now owns 3,395 shares of the industrial products company’s stock worth $1,231,000 after buying an additional 1,332 shares during the period. Institutional investors own 70.98% of the company’s stock.

Caterpillar Trading Down 0.1 %

CAT opened at $353.31 on Tuesday. Caterpillar Inc. has a 1-year low of $307.05 and a 1-year high of $418.50. The stock has a market capitalization of $170.58 billion, a PE ratio of 16.01, a PEG ratio of 1.94 and a beta of 1.12. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40. The firm has a 50-day moving average price of $372.47 and a two-hundred day moving average price of $372.14.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $5.14 earnings per share for the quarter, topping the consensus estimate 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 anticipate that Caterpillar Inc. will post 20.05 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Tuesday, January 21st will be paid a $1.41 dividend. This represents a $5.64 annualized dividend and a dividend yield of 1.60%. The ex-dividend date is Tuesday, January 21st. Caterpillar’s dividend payout ratio (DPR) is presently 25.56%.

Insider Transactions at Caterpillar

In other news, Director Gerald Johnson bought 100 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were bought at an average cost of $365.57 per share, for a total transaction of $36,557.00. Following the completion of the acquisition, the director now owns 3,053 shares in the company, valued at approximately $1,116,085.21. This trade represents a 3.39 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’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 of the company’s stock, valued at approximately $17,173,226.38. This represents a 18.12 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CAT shares. Truist Financial dropped their target price on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. UBS Group upgraded shares of Caterpillar from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $355.00 to $385.00 in a research note on Monday, February 3rd. Bank of America decreased their target price on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Morgan Stanley dropped their price target on shares of Caterpillar from $330.00 to $300.00 and set an “underweight” rating for the company in a research report on Friday, January 31st. Finally, DA Davidson upped their price objective on Caterpillar from $350.00 to $357.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $383.13.

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.