Belpointe Asset Management LLC Acquires 688 Shares of Caterpillar Inc. (NYSE:CAT)

Belpointe Asset Management LLC grew its stake in shares of Caterpillar Inc. (NYSE:CAT) by 23.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,682 shares of the industrial products company’s stock after purchasing an additional 688 shares during the quarter. Belpointe Asset Management LLC’s holdings in Caterpillar were worth $1,311,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CAT. Principal Financial Group Inc. grew its stake in Caterpillar by 0.7% in the third quarter. Principal Financial Group Inc. now owns 729,654 shares of the industrial products company’s stock worth $285,382,000 after purchasing an additional 5,371 shares in the last quarter. SOA Wealth Advisors LLC. grew its position in shares of Caterpillar by 47.2% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 156 shares of the industrial products company’s stock worth $61,000 after buying an additional 50 shares in the last quarter. Tudor Financial Inc. purchased a new position in shares of Caterpillar during the third quarter valued at $854,000. Anchor Investment Management LLC raised its holdings in shares of Caterpillar by 2.9% in the third quarter. Anchor Investment Management LLC now owns 13,317 shares of the industrial products company’s stock valued at $5,208,000 after acquiring an additional 376 shares in the last quarter. Finally, World Investment Advisors LLC lifted its stake in Caterpillar by 26.6% in the third quarter. World Investment Advisors LLC now owns 4,012 shares of the industrial products company’s stock worth $1,569,000 after acquiring an additional 843 shares during the period. 70.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CAT has been the subject of several recent research reports. Truist Financial reduced their price target on shares of Caterpillar from $438.00 to $389.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. DA Davidson upped 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. Bank of America cut their price target on Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a report on Friday, January 31st. UBS Group upgraded Caterpillar from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $355.00 to $385.00 in a research note on Monday, February 3rd. Finally, StockNews.com lowered Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $365.87.

Insider Transactions at Caterpillar

In related news, insider Jason Kaiser sold 2,425 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total transaction of $860,147.50. Following the sale, the insider now directly owns 6,275 shares of the company’s stock, valued at $2,225,742.50. This trade represents a 27.87 % decrease in their ownership of the stock. The transaction 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 business’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 completion of the transaction, the chief financial officer now directly owns 45,182 shares of the company’s stock, valued at $17,173,226.38. The trade was 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.

Caterpillar Price Performance

NYSE CAT opened at $298.07 on Tuesday. The company has a market cap of $142.46 billion, a price-to-earnings ratio of 13.51, a PEG ratio of 1.87 and a beta of 1.21. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. The stock’s fifty day moving average price is $332.75 and its 200 day moving average price is $366.35. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $418.50.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (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, equities research analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 20th. Stockholders of record on Monday, April 21st will be issued a $1.41 dividend. This represents a $5.64 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Monday, April 21st. 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.