Renaissance Technologies LLC Grows Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Renaissance Technologies LLC boosted its position in Caterpillar Inc. (NYSE:CAT) by 203.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 161,841 shares of the industrial products company’s stock after purchasing an additional 108,473 shares during the quarter. Renaissance Technologies LLC’s holdings in Caterpillar were worth $58,710,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CAT. FSM Wealth Advisors LLC grew its position in shares of Caterpillar by 3.8% in the 4th quarter. FSM Wealth Advisors LLC now owns 688 shares of the industrial products company’s stock worth $262,000 after acquiring an additional 25 shares in the last quarter. Allen Capital Group LLC grew its position in Caterpillar by 0.6% during the 4th quarter. Allen Capital Group LLC now owns 4,247 shares of the industrial products company’s stock worth $1,541,000 after purchasing an additional 26 shares in the last quarter. Wagner Wealth Management LLC increased its stake in Caterpillar by 4.0% in the 4th quarter. Wagner Wealth Management LLC now owns 668 shares of the industrial products company’s stock valued at $242,000 after buying an additional 26 shares during the period. Channel Wealth LLC lifted its stake in shares of Caterpillar by 1.9% in the 4th quarter. Channel Wealth LLC now owns 1,468 shares of the industrial products company’s stock valued at $533,000 after purchasing an additional 27 shares during the last quarter. Finally, Total Clarity Wealth Management Inc. lifted its position in Caterpillar by 0.6% during the 4th quarter. Total Clarity Wealth Management Inc. now owns 4,373 shares of the industrial products company’s stock worth $1,586,000 after acquiring an additional 27 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Buying and Selling at Caterpillar

In other news, Director Gerald Johnson acquired 100 shares of the stock in a transaction dated 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 purchase, the director now directly 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction dated 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 approximately $17,173,226.38. This represents a 18.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CAT. StockNews.com cut Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. DA Davidson boosted their target price on Caterpillar from $350.00 to $357.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Morgan Stanley dropped their target price on shares of Caterpillar from $330.00 to $300.00 and set an “underweight” rating for the company in a report on Friday, January 31st. Bank of America decreased their target price on Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. decreased their price target on Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Caterpillar currently has a consensus rating of “Hold” and a consensus target price of $373.20.

Caterpillar Price Performance

Caterpillar stock opened at $301.43 on Thursday. Caterpillar Inc. has a one year low of $267.30 and a one year high of $418.50. The company has a market cap of $144.06 billion, a P/E ratio of 13.66, a price-to-earnings-growth ratio of 1.87 and a beta of 1.21. The business has a fifty day moving average of $336.81 and a two-hundred day moving average of $368.44. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42.

Caterpillar (NYSE:CAT) last released 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 return on equity of 58.18% and a net margin of 16.65%. As a group, analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Stockholders of record on Monday, April 21st will be given a $1.41 dividend. This represents a $5.64 annualized dividend and a dividend yield of 1.87%. Caterpillar’s dividend payout ratio (DPR) is currently 25.56%.

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.