Ilmarinen Mutual Pension Insurance Co Increases Stake in Caterpillar Inc. $CAT

Ilmarinen Mutual Pension Insurance Co raised its stake in shares of Caterpillar Inc. (NYSE:CAT) by 8.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,800 shares of the industrial products company’s stock after purchasing an additional 6,000 shares during the quarter. Ilmarinen Mutual Pension Insurance Co’s holdings in Caterpillar were worth $43,996,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Torren Management LLC acquired a new stake in Caterpillar during the 4th quarter worth about $27,000. Frazier Financial Advisors LLC increased its holdings in shares of Caterpillar by 220.0% in the fourth quarter. Frazier Financial Advisors LLC now owns 48 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 33 shares during the period. IFS Advisors LLC purchased a new position in shares of Caterpillar in the fourth quarter worth about $31,000. Rialto Wealth Management LLC lifted its holdings in shares of Caterpillar by 47.4% during the fourth quarter. Rialto Wealth Management LLC now owns 56 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 18 shares during the period. Finally, Noble Wealth Management PBC boosted its position in Caterpillar by 140.0% in the fourth quarter. Noble Wealth Management PBC now owns 60 shares of the industrial products company’s stock valued at $34,000 after buying an additional 35 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on CAT. Truist Financial set a $1,043.00 price target on shares of Caterpillar in a research report on Friday, May 1st. Royal Bank Of Canada increased their price objective on shares of Caterpillar from $587.00 to $658.00 and gave the stock a “sector perform” rating in a research note on Friday, January 30th. Argus boosted their target price on shares of Caterpillar from $820.00 to $990.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Morgan Stanley set a $915.00 price target on Caterpillar and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Finally, Sanford C. Bernstein boosted their price objective on Caterpillar from $769.00 to $879.00 and gave the company a “market perform” rating in a report on Friday, May 1st. Sixteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, Caterpillar currently has a consensus rating of “Moderate Buy” and a consensus price target of $923.14.

Insider Activity at Caterpillar

In related news, insider Anthony D. Fassino sold 16,283 shares of Caterpillar stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $916.80, for a total value of $14,928,254.40. Following the sale, the insider directly owned 46,041 shares in the company, valued at approximately $42,210,388.80. The trade was a 26.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Denise C. Johnson sold 12,605 shares of Caterpillar stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $907.91, for a total value of $11,444,205.55. Following the completion of the sale, the insider directly owned 49,825 shares in the company, valued at $45,236,615.75. This represents a 20.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 98,273 shares of company stock valued at $89,439,960 in the last three months. Company insiders own 0.33% of the company’s stock.

Caterpillar Price Performance

NYSE:CAT opened at $887.04 on Friday. The stock has a market capitalization of $408.56 billion, a PE ratio of 44.15, a price-to-earnings-growth ratio of 1.80 and a beta of 1.63. Caterpillar Inc. has a 52 week low of $339.50 and a 52 week high of $931.35. The company has a quick ratio of 0.81, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. The stock’s 50-day moving average price is $807.51 and its 200-day moving average price is $701.11.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Thursday, April 30th. The industrial products company reported $5.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.65 by $0.89. The company had revenue of $17.42 billion for the quarter, compared to the consensus estimate of $16.53 billion. Caterpillar had a return on equity of 48.21% and a net margin of 13.33%.Caterpillar’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.25 earnings per share. As a group, equities analysts expect that Caterpillar Inc. will post 24.67 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 19th. Investors of record on Monday, April 20th were issued a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Monday, April 20th. Caterpillar’s payout ratio is presently 30.06%.

About Caterpillar

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.