Constitution Capital LLC Boosts Position in Caterpillar Inc. (NYSE:CAT)

Constitution Capital LLC lifted its position in Caterpillar Inc. (NYSE:CAT) by 14.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,318 shares of the industrial products company’s stock after purchasing an additional 300 shares during the quarter. Constitution Capital LLC’s holdings in Caterpillar were worth $841,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CAT. International Assets Investment Management LLC raised its position in Caterpillar by 39,534.0% in the third quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock valued at $8,356,930,000 after purchasing an additional 2,131,276 shares during the period. Altshuler Shaham Ltd increased its position in shares of Caterpillar by 3,319.7% during the 2nd quarter. Altshuler Shaham Ltd now owns 275,011 shares of the industrial products company’s stock worth $91,606,000 after purchasing an additional 266,969 shares during the last quarter. Zurich Insurance Group Ltd FI raised its holdings in Caterpillar by 4,018.6% in the 3rd quarter. Zurich Insurance Group Ltd FI now owns 255,355 shares of the industrial products company’s stock valued at $99,874,000 after buying an additional 249,155 shares during the period. Fisher Asset Management LLC lifted its position in Caterpillar by 2.3% in the third quarter. Fisher Asset Management LLC now owns 8,952,632 shares of the industrial products company’s stock valued at $3,501,554,000 after buying an additional 205,012 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in Caterpillar by 34.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 782,133 shares of the industrial products company’s stock worth $305,908,000 after buying an additional 200,210 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Caterpillar

In related news, insider Anthony D. Fassino sold 6,279 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $408.59, for a total value of $2,565,536.61. Following the transaction, the insider now directly owns 33,565 shares of the company’s stock, valued at $13,714,323.35. This trade represents a 15.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Cheryl H. Johnson sold 2,664 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $378.84, for a total transaction of $1,009,229.76. Following the completion of the transaction, the insider now owns 12,951 shares of the company’s stock, valued at $4,906,356.84. This represents a 17.06 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,868 shares of company stock valued at $9,679,489. 0.29% of the stock is currently owned by corporate insiders.

Caterpillar Stock Up 1.6 %

CAT stock opened at $380.85 on Friday. Caterpillar Inc. has a fifty-two week low of $276.94 and a fifty-two week high of $418.50. The company’s 50 day moving average price is $380.24 and its 200 day moving average price is $366.36. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40. The firm has a market capitalization of $183.87 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 1.72 and a beta of 1.13.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The firm had revenue of $16.11 billion during the quarter, compared to analyst estimates of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. Caterpillar’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.52 earnings per share. On average, equities research analysts anticipate that Caterpillar Inc. will post 21.68 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st will be issued a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date is Tuesday, January 21st. Caterpillar’s dividend payout ratio (DPR) is 26.15%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Truist Financial reduced their price target on shares of Caterpillar from $471.00 to $455.00 and set a “buy” rating on the stock in a research note on Thursday. Morgan Stanley lowered Caterpillar from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $349.00 to $332.00 in a research report on Monday, October 14th. Bank of America raised their price target on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. boosted their price objective on Caterpillar from $500.00 to $515.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Finally, Jefferies Financial Group raised their target price on Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a report on Friday, December 6th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $380.60.

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.