AlTi Global Inc. Acquires 310 Shares of Caterpillar Inc. (NYSE:CAT)

AlTi Global Inc. grew its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 3.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,155 shares of the industrial products company’s stock after purchasing an additional 310 shares during the quarter. AlTi Global Inc.’s holdings in Caterpillar were worth $3,399,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in CAT. Principal Financial Group Inc. raised its stake in shares of Caterpillar by 0.7% in the third quarter. Principal Financial Group Inc. now owns 729,654 shares of the industrial products company’s stock valued at $285,382,000 after buying an additional 5,371 shares during the period. World Investment Advisors LLC raised its stake in Caterpillar by 26.6% in the 3rd quarter. World Investment Advisors LLC now owns 4,012 shares of the industrial products company’s stock valued at $1,569,000 after acquiring an additional 843 shares during the period. Franklin Resources Inc. boosted its position in Caterpillar by 14.3% during the third quarter. Franklin Resources Inc. now owns 443,315 shares of the industrial products company’s stock worth $174,644,000 after purchasing an additional 55,448 shares during the period. Versant Capital Management Inc increased its stake in shares of Caterpillar by 40.1% in the fourth quarter. Versant Capital Management Inc now owns 1,156 shares of the industrial products company’s stock worth $419,000 after purchasing an additional 331 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Caterpillar by 7.3% in the fourth quarter. GAMMA Investing LLC now owns 8,566 shares of the industrial products company’s stock valued at $3,107,000 after purchasing an additional 586 shares during the period. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Up 3.1 %

Shares of NYSE:CAT opened at $323.74 on Friday. The stock has a market capitalization of $154.73 billion, a P/E ratio of 14.67, a price-to-earnings-growth ratio of 1.87 and a beta of 1.21. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $418.50. The stock’s 50-day moving average price is $318.18 and its 200-day moving average price is $357.78. 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 (NYSE:CAT) last issued its earnings results on Wednesday, April 30th. The industrial products company reported $4.25 EPS for the quarter, missing the consensus estimate of $4.35 by ($0.10). The firm had revenue of $14.25 billion during the quarter, compared to analysts’ expectations of $14.64 billion. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. The firm’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.60 earnings per share. On average, equities analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Monday, April 21st will be issued a $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 1.74%. The ex-dividend date is Monday, April 21st. Caterpillar’s dividend payout ratio (DPR) is currently 25.56%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CAT. JPMorgan Chase & Co. dropped their price objective on Caterpillar from $490.00 to $380.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Morgan Stanley upgraded shares of Caterpillar from an “underweight” rating to an “equal weight” rating and lowered their target price for the stock from $300.00 to $283.00 in a research note on Wednesday, April 16th. Robert W. Baird upgraded shares of Caterpillar from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $300.00 to $309.00 in a research report on Thursday. DA Davidson reduced their target price on Caterpillar from $357.00 to $325.00 and set a “neutral” rating for the company in a research report on Monday, April 21st. Finally, StockNews.com lowered Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $366.00.

Insider Buying and Selling at Caterpillar

In related news, Director Gerald Johnson purchased 100 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was bought at an average cost of $365.57 per share, with a total value of $36,557.00. Following the completion of the purchase, the director now directly owns 3,053 shares in the company, valued at approximately $1,116,085.21. This represents a 3.39 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jason Kaiser sold 2,425 shares of Caterpillar stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total value of $860,147.50. Following the sale, the insider now directly owns 6,275 shares in the company, valued at approximately $2,225,742.50. The trade was a 27.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

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.