Waverly Advisors LLC Has $7.81 Million Stake in Caterpillar Inc. (NYSE:CAT)

Waverly Advisors LLC raised its stake in shares of Caterpillar Inc. (NYSE:CAT) by 48.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,529 shares of the industrial products company’s stock after buying an additional 6,978 shares during the quarter. Waverly Advisors LLC’s holdings in Caterpillar were worth $7,810,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Woodline Partners LP bought a new position in Caterpillar during the 4th quarter worth approximately $10,518,000. Zimmer Partners LP increased its stake in Caterpillar by 50.6% in the fourth quarter. Zimmer Partners LP now owns 30,120 shares of the industrial products company’s stock valued at $10,926,000 after purchasing an additional 10,120 shares in the last quarter. Victrix Investment Advisors acquired a new stake in Caterpillar in the fourth quarter worth $2,090,000. Vident Advisory LLC boosted its position in shares of Caterpillar by 14.0% during the fourth quarter. Vident Advisory LLC now owns 31,153 shares of the industrial products company’s stock worth $11,302,000 after purchasing an additional 3,830 shares in the last quarter. Finally, Vivaldi Capital Management LP boosted its position in shares of Caterpillar by 2,687.1% during the fourth quarter. Vivaldi Capital Management LP now owns 17,336 shares of the industrial products company’s stock worth $6,839,000 after purchasing an additional 16,714 shares in the last quarter. 70.98% of the stock is owned by institutional investors.

Caterpillar Trading Down 1.0%

CAT opened at $349.01 on Wednesday. The stock has a market capitalization of $164.40 billion, a P/E ratio of 15.81, a P/E/G ratio of 1.87 and a beta of 1.35. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $418.50. The firm’s fifty day simple moving average is $318.02 and its 200 day simple moving average is $353.54. 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 posted its quarterly earnings data 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 company had revenue of $14.25 billion during the quarter, compared to the consensus estimate of $14.64 billion. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. The company’s revenue was down 9.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.60 earnings per share. As a group, research analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Monday, April 21st were given a dividend of $1.41 per share. The ex-dividend date of this dividend was Monday, April 21st. This represents a $5.64 annualized dividend and a yield of 1.62%. Caterpillar’s dividend payout ratio (DPR) is presently 27.49%.

Insiders Place Their Bets

In other Caterpillar news, Director David Maclennan purchased 375 shares of the business’s stock in a transaction on Wednesday, May 7th. The shares were purchased at an average cost of $320.70 per share, with a total value of $120,262.50. Following the transaction, the director now directly owns 6,653 shares of the company’s stock, valued at $2,133,617.10. This represents a 5.97% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CAT shares. 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 raised shares of Caterpillar from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $309.00 to $395.00 in a research report on Tuesday, May 13th. Bank of America reduced their price target on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. DA Davidson lifted their price target on shares of Caterpillar from $325.00 to $331.00 and gave the stock a “neutral” rating in a research report on Monday, May 5th. Finally, Truist Financial reissued a “buy” rating and set a $396.00 price target (up from $389.00) on shares of Caterpillar in a research report on Thursday, May 1st. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $375.33.

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.