Daiwa Securities Group Inc. Raises Position in Caterpillar Inc. (NYSE:CAT)

Daiwa Securities Group Inc. increased its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 3.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 148,677 shares of the industrial products company’s stock after buying an additional 4,318 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Caterpillar were worth $53,934,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in CAT. Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Caterpillar during the fourth quarter worth about $27,000. Noble Wealth Management PBC purchased a new stake in Caterpillar during the 4th quarter worth approximately $31,000. Retirement Wealth Solutions LLC acquired a new position in Caterpillar during the 4th quarter valued at approximately $34,000. Capital Performance Advisors LLP purchased a new position in shares of Caterpillar in the third quarter worth $36,000. Finally, Albion Financial Group UT grew its holdings in shares of Caterpillar by 334.8% during the fourth quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock valued at $36,000 after buying an additional 77 shares during the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CAT shares. Morgan Stanley reduced their target price on Caterpillar from $330.00 to $300.00 and set an “underweight” rating for the company in a research note on Friday, January 31st. Wedbush upgraded Caterpillar to an “outperform” rating in a research note on Monday, February 3rd. Raymond James raised shares of Caterpillar from a “market perform” rating to an “outperform” rating in a report on Monday, February 3rd. Jefferies Financial Group upped their target price on Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, Bank of America dropped 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. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Caterpillar presently has an average rating of “Hold” and a consensus price target of $383.80.

Caterpillar Price Performance

Shares of NYSE CAT opened at $350.97 on Monday. The firm has a 50-day simple moving average of $363.11 and a 200-day simple moving average of $372.98. 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 stock has a market capitalization of $167.74 billion, a price-to-earnings ratio of 15.90, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15. Caterpillar Inc. has a 52 week low of $307.05 and a 52 week high of $418.50.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Thursday, January 30th. The industrial products company reported $5.14 EPS for the quarter, beating analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. On average, equities analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st were issued a $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend was Tuesday, January 21st. Caterpillar’s payout ratio is currently 25.56%.

Insiders Place Their Bets

In related news, insider Jason Kaiser sold 2,425 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total value of $860,147.50. Following the transaction, the insider now directly owns 6,275 shares in the company, valued at approximately $2,225,742.50. This represents a 27.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $380.09, for a total value of $3,800,900.00. Following the sale, the chief financial officer now directly owns 45,182 shares of the company’s stock, valued at approximately $17,173,226.38. This trade represents a 18.12 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

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.