Caterpillar Inc. (NYSE:CAT) Shares Purchased by QRG Capital Management Inc.

QRG Capital Management Inc. boosted its stake in Caterpillar Inc. (NYSE:CAT) by 3.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 125,187 shares of the industrial products company’s stock after acquiring an additional 4,247 shares during the period. QRG Capital Management Inc.’s holdings in Caterpillar were worth $45,413,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB increased its position in Caterpillar by 1.6% in the 4th quarter. Nordea Investment Management AB now owns 635,750 shares of the industrial products company’s stock valued at $231,686,000 after acquiring an additional 10,212 shares during the period. West Wealth Group LLC acquired a new position in Caterpillar in the 4th quarter valued at about $230,000. Citizens Financial Group Inc. RI increased its position in Caterpillar by 43.0% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 13,902 shares of the industrial products company’s stock valued at $5,437,000 after acquiring an additional 4,181 shares during the period. Cadinha & Co. LLC acquired a new position in Caterpillar in the 4th quarter valued at about $11,084,000. Finally, Atomi Financial Group Inc. increased its position in Caterpillar by 3.9% in the 4th quarter. Atomi Financial Group Inc. now owns 23,193 shares of the industrial products company’s stock valued at $8,414,000 after acquiring an additional 871 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CAT shares. Morgan Stanley lowered their price objective on Caterpillar from $330.00 to $300.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. Truist Financial lowered their price objective on Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. JPMorgan Chase & Co. lowered their price objective on Caterpillar from $515.00 to $490.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Evercore ISI lifted their price objective on Caterpillar from $365.00 to $375.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. Finally, Citigroup lifted their price objective on Caterpillar from $420.00 to $430.00 and gave the company a “buy” rating in a report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $383.80.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $380.09, for a total value of $3,800,900.00. Following the sale, the chief financial officer now owns 45,182 shares in the company, valued at approximately $17,173,226.38. This trade represents a 18.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Anthony D. Fassino sold 6,279 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $408.59, for a total transaction of $2,565,536.61. Following the transaction, the insider now owns 33,565 shares in the company, valued at $13,714,323.35. This represents a 15.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,704 shares of company stock worth $7,226,584. 0.29% of the stock is owned by company insiders.

Caterpillar Stock Up 0.1 %

Shares of Caterpillar stock opened at $342.55 on Thursday. The company has a fifty day moving average price of $366.82 and a 200 day moving average price of $372.88. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40. Caterpillar Inc. has a twelve month low of $307.05 and a twelve month high of $418.50. The stock has a market cap of $163.72 billion, a price-to-earnings ratio of 15.52, a price-to-earnings-growth ratio of 1.87 and a beta of 1.12.

Caterpillar (NYSE:CAT) last announced its quarterly 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%. Equities research analysts forecast 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 was paid on Thursday, February 20th. Investors of record on Tuesday, January 21st were paid a dividend of $1.41 per share. The ex-dividend date was Tuesday, January 21st. This represents a $5.64 annualized dividend and a yield of 1.65%. Caterpillar’s dividend payout ratio (DPR) is 25.56%.

Caterpillar Company 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.