Benin Management CORP Has $1.04 Million Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Benin Management CORP lifted its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 2.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,165 shares of the industrial products company’s stock after acquiring an additional 68 shares during the period. Benin Management CORP’s holdings in Caterpillar were worth $1,044,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Proficio Capital Partners LLC grew its position in Caterpillar by 38.3% in the 4th quarter. Proficio Capital Partners LLC now owns 2,218 shares of the industrial products company’s stock worth $805,000 after purchasing an additional 614 shares in the last quarter. Victrix Investment Advisors bought a new position in shares of Caterpillar in the fourth quarter valued at approximately $2,090,000. Braun Stacey Associates Inc. increased its position in shares of Caterpillar by 2.8% during the fourth quarter. Braun Stacey Associates Inc. now owns 34,837 shares of the industrial products company’s stock valued at $12,637,000 after acquiring an additional 963 shares during the last quarter. Strategic Advisors LLC lifted its holdings in Caterpillar by 14.6% during the fourth quarter. Strategic Advisors LLC now owns 5,724 shares of the industrial products company’s stock worth $2,076,000 after acquiring an additional 730 shares during the period. Finally, MFG Wealth Management Inc. purchased a new position in Caterpillar in the fourth quarter worth $2,308,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Stock Up 1.4%

CAT stock opened at $349.53 on Wednesday. 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 firm has a market capitalization of $164.64 billion, a PE ratio of 15.84, a PEG ratio of 1.87 and a beta of 1.35. The stock has a 50-day simple moving average of $319.50 and a two-hundred day simple moving average of $350.36.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share 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 the consensus estimate of $14.64 billion. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. The company’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period in the previous year, the company posted $5.60 EPS. On average, equities analysts predict 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. Stockholders of record on Monday, April 21st were given a dividend of $1.41 per share. The ex-dividend date was Monday, April 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.61%. Caterpillar’s dividend payout ratio (DPR) is presently 27.49%.

Insider Transactions at Caterpillar

In related news, Director David Maclennan bought 375 shares of the business’s stock in a transaction that occurred on Wednesday, May 7th. The stock was bought at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the completion of the transaction, the director now owns 6,653 shares of the company’s stock, valued at approximately $2,133,617.10. The trade was a 5.97% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.33% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on CAT. Wall Street Zen lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Oppenheimer raised shares of Caterpillar from a “market perform” rating to an “outperform” rating and set a $395.00 price target on the stock in a report on Thursday, May 1st. Baird R W raised Caterpillar from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 13th. JPMorgan Chase & Co. decreased their target price on Caterpillar from $490.00 to $380.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Finally, Truist Financial reaffirmed a “buy” rating and set a $396.00 price target (up previously from $389.00) on shares of Caterpillar in a research report on Thursday, May 1st. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $372.92.

Caterpillar 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.