Beese Fulmer Investment Management Inc. Raises Stake in Caterpillar Inc. (NYSE:CAT)

Beese Fulmer Investment Management Inc. increased its position in shares of Caterpillar Inc. (NYSE:CAT) by 0.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,209 shares of the industrial products company’s stock after buying an additional 53 shares during the period. Beese Fulmer Investment Management Inc.’s holdings in Caterpillar were worth $5,880,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB lifted its stake in shares of Caterpillar by 1.6% in 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 purchased a new stake in Caterpillar in the 4th quarter worth approximately $230,000. Citizens Financial Group Inc. RI grew 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 purchasing an additional 4,181 shares in the last quarter. Cadinha & Co. LLC acquired a new position in Caterpillar in the fourth quarter worth approximately $11,084,000. Finally, First Affirmative Financial Network acquired a new stake in shares of Caterpillar in the 3rd quarter valued at $204,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Caterpillar news, Director Gerald Johnson bought 100 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were bought at an average price of $365.57 per share, for a total transaction of $36,557.00. Following the transaction, the director now owns 3,053 shares of the company’s stock, valued at approximately $1,116,085.21. This trade represents a 3.39 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Anthony D. Fassino sold 6,279 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $408.59, for a total value of $2,565,536.61. Following the sale, the insider now directly owns 33,565 shares in the company, valued at $13,714,323.35. This trade represents a 15.76 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on CAT shares. Truist Financial lowered their target price on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a research note on Monday. JPMorgan Chase & Co. dropped their price target on shares of Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Morgan Stanley lowered their target price on shares of Caterpillar from $330.00 to $300.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. Jefferies Financial Group increased their target price on Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Finally, DA Davidson increased their price objective on Caterpillar from $350.00 to $357.00 and gave the company a “neutral” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $383.13.

Caterpillar Trading Up 1.9 %

Caterpillar stock opened at $365.54 on Friday. The stock has a 50-day moving average price of $378.20 and a 200 day moving average price of $371.22. The company has a market capitalization of $176.48 billion, a price-to-earnings ratio of 16.56, a price-to-earnings-growth ratio of 1.95 and a beta of 1.12. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. Caterpillar Inc. has a 52 week low of $307.05 and a 52 week high of $418.50.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. Sell-side analysts anticipate that Caterpillar Inc. will post 21.45 EPS for the current year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st will be given a $1.41 dividend. The ex-dividend date is Tuesday, January 21st. This represents a $5.64 annualized dividend and a yield of 1.54%. Caterpillar’s dividend payout ratio is presently 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.