Alpha Cubed Investments LLC Acquires 8,575 Shares of Caterpillar Inc. (NYSE:CAT)

Alpha Cubed Investments LLC increased its stake in shares of Caterpillar Inc. (NYSE:CAT) by 7.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 125,141 shares of the industrial products company’s stock after purchasing an additional 8,575 shares during the period. Caterpillar accounts for 2.1% of Alpha Cubed Investments LLC’s investment portfolio, making the stock its 15th largest position. Alpha Cubed Investments LLC’s holdings in Caterpillar were worth $45,396,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in CAT. Capital Performance Advisors LLP bought a new position in shares of Caterpillar in the third quarter worth $36,000. Retirement Wealth Solutions LLC purchased a new position in Caterpillar during the fourth quarter worth about $34,000. Fairscale Capital LLC bought a new position in Caterpillar in the 2nd quarter worth about $36,000. Kimelman & Baird LLC boosted its position in shares of Caterpillar by 42.9% during the 3rd quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 30 shares during the last quarter. Finally, Trivant Custom Portfolio Group LLC grew its holdings in shares of Caterpillar by 130.0% during the fourth quarter. Trivant Custom Portfolio Group LLC now owns 115 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 65 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Caterpillar Trading Up 1.4 %

Shares of CAT opened at $386.03 on Tuesday. The stock has a market capitalization of $186.38 billion, a P/E ratio of 17.90, a PEG ratio of 1.91 and a beta of 1.13. Caterpillar Inc. has a twelve month low of $277.66 and a twelve month high of $418.50. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. The firm has a fifty day simple moving average of $380.09 and a two-hundred day simple moving average of $367.29.

Caterpillar (NYSE:CAT) last posted its earnings results 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). Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The firm had revenue of $16.11 billion for the quarter, compared to analysts’ expectations of $16.37 billion. During the same quarter in the prior year, the company posted $5.52 earnings per share. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. On average, research analysts anticipate that Caterpillar Inc. will post 21.69 EPS for the current year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Tuesday, January 21st will be paid a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date is Tuesday, January 21st. Caterpillar’s payout ratio is 26.15%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Truist Financial dropped their target price on shares of Caterpillar from $471.00 to $455.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Citigroup cut their target price on shares of Caterpillar from $460.00 to $420.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Morgan Stanley downgraded Caterpillar from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $349.00 to $332.00 in a research report on Monday, October 14th. StockNews.com lowered Caterpillar from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Bank of America boosted their target price on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $380.60.

Insider Activity at Caterpillar

In related news, CAO William E. Schaupp sold 968 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $380.98, for a total transaction of $368,788.64. Following the transaction, the chief accounting officer now owns 1,686 shares in the company, valued at $642,332.28. The trade was a 36.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the completion of the sale, the chief financial officer now owns 45,182 shares of the company’s stock, valued at $17,173,226.38. This trade represents a 18.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,868 shares of company stock worth $13,480,389 over the last quarter. Corporate insiders own 0.29% of the company’s stock.

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.