Cornerstone Select Advisors LLC Takes $615,000 Position in Caterpillar Inc. (NYSE:CAT)

Cornerstone Select Advisors LLC purchased a new stake in Caterpillar Inc. (NYSE:CAT) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,694 shares of the industrial products company’s stock, valued at approximately $615,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. FSM Wealth Advisors LLC grew its holdings in Caterpillar by 3.8% during the fourth quarter. FSM Wealth Advisors LLC now owns 688 shares of the industrial products company’s stock worth $262,000 after buying an additional 25 shares in the last quarter. Allen Capital Group LLC boosted its holdings 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 acquiring an additional 26 shares during the last quarter. Wagner Wealth Management LLC grew its stake in shares of Caterpillar by 4.0% in the 4th quarter. Wagner Wealth Management LLC now owns 668 shares of the industrial products company’s stock worth $242,000 after acquiring an additional 26 shares in the last quarter. Channel Wealth LLC raised its holdings in shares of Caterpillar by 1.9% in the fourth 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. boosted its holdings in Caterpillar by 0.6% during the fourth quarter. Total Clarity Wealth Management Inc. now owns 4,373 shares of the industrial products company’s stock worth $1,586,000 after purchasing an additional 27 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analysts Set New Price Targets

CAT has been the topic of several recent analyst reports. Raymond James raised shares of Caterpillar from a “market perform” rating to an “outperform” rating in a research report on Monday, February 3rd. Robert W. Baird upgraded Caterpillar from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $300.00 to $309.00 in a report on Thursday, May 1st. Morgan Stanley upgraded Caterpillar from an “underweight” rating to an “equal weight” rating and reduced their price objective for the company from $300.00 to $283.00 in a research note on Wednesday, April 16th. Baird R W raised shares of Caterpillar from a “strong sell” rating to a “hold” rating in a report on Thursday, May 1st. Finally, Truist Financial restated a “buy” rating and set a $396.00 price objective (up previously from $389.00) on shares of Caterpillar in a report on Thursday, May 1st. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Caterpillar presently has a consensus rating of “Moderate Buy” and an average target price of $370.67.

Insider Buying and Selling at Caterpillar

In other news, insider Jason Kaiser sold 2,425 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total transaction of $860,147.50. Following the completion of the transaction, the insider now directly owns 6,275 shares in the company, valued at $2,225,742.50. The trade was a 27.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.29% of the company’s stock.

Caterpillar Price Performance

CAT opened at $321.35 on Wednesday. The firm has a 50-day moving average price of $317.40 and a 200-day moving average price of $356.53. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $418.50. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $153.58 billion, a price-to-earnings ratio of 14.56, a PEG ratio of 1.87 and a beta of 1.35.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share for the quarter, missing analysts’ consensus estimates of $4.35 by ($0.10). The business had revenue of $14.25 billion during the quarter, compared to analysts’ expectations of $14.64 billion. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. The firm’s quarterly revenue was down 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.60 earnings per share. Equities analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Monday, April 21st will be issued a dividend of $1.41 per share. The ex-dividend date of this dividend is Monday, April 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.76%. Caterpillar’s dividend payout ratio (DPR) is 27.49%.

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.