Pinnacle Financial Partners Inc Buys 58 Shares of Caterpillar Inc. (NYSE:CAT)

Pinnacle Financial Partners Inc raised its stake in Caterpillar Inc. (NYSE:CAT) by 0.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,553 shares of the industrial products company’s stock after purchasing an additional 58 shares during the period. Pinnacle Financial Partners Inc’s holdings in Caterpillar were worth $7,008,000 as of its most recent SEC filing.

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

Insider Transactions at Caterpillar

In related news, insider Anthony D. Fassino sold 6,279 shares of Caterpillar 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 of the company’s stock, valued at $13,714,323.35. This trade represents a 15.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the transaction, the chief financial officer now directly owns 45,182 shares in the company, valued at $17,173,226.38. The trade was a 18.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,704 shares of company stock worth $7,226,584 in the last quarter. 0.29% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Wedbush raised shares of Caterpillar to an “outperform” rating in a report on Monday, February 3rd. Bank of America dropped their target price on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Citigroup increased their target price on shares of Caterpillar from $420.00 to $430.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. DA Davidson increased their target price on shares of Caterpillar from $350.00 to $357.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Finally, Jefferies Financial Group increased their target price on shares of Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $383.80.

Caterpillar Trading Down 2.7 %

CAT opened at $339.84 on Friday. Caterpillar Inc. has a 1-year low of $307.05 and a 1-year high of $418.50. The firm has a 50-day moving average price of $368.73 and a two-hundred day moving average price of $372.40. 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 stock has a market capitalization of $162.42 billion, a PE ratio of 15.40, a PEG ratio of 1.87 and a beta of 1.12.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 EPS 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 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Tuesday, January 21st were given a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend was Tuesday, January 21st. Caterpillar’s dividend payout ratio is 25.56%.

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.