TRUE Private Wealth Advisors bought a new stake in Caterpillar Inc. (NYSE:CAT) during the fourth quarter, HoldingsChannel reports. The fund bought 2,257 shares of the industrial products company’s stock, valued at approximately $355,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CAT. Motco boosted its position in Caterpillar by 264.9% during the second quarter. Motco now owns 989 shares of the industrial products company’s stock valued at $106,000 after buying an additional 718 shares during the period. Acrospire Investment Management LLC boosted its position in Caterpillar by 900.0% during the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the industrial products company’s stock valued at $107,000 after buying an additional 900 shares during the period. Massey Quick Simon & CO. LLC boosted its position in Caterpillar by 4,240.7% during the third quarter. Massey Quick Simon & CO. LLC now owns 1,172 shares of the industrial products company’s stock valued at $146,000 after buying an additional 1,145 shares during the period. Blue Chip Partners Inc. purchased a new stake in Caterpillar during the second quarter valued at about $136,000. Finally, First American Trust FSB purchased a new stake in Caterpillar during the fourth quarter valued at about $204,000. 68.55% of the stock is currently owned by institutional investors and hedge funds.
Shares of Caterpillar Inc. (CAT) opened at $170.41 on Friday. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.04 and a current ratio of 1.44. The firm has a market cap of $100,442.65, a PE ratio of 118.34, a PEG ratio of 2.06 and a beta of 1.29. Caterpillar Inc. has a 1-year low of $90.34 and a 1-year high of $173.24.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 20th. Stockholders of record on Monday, January 22nd will be issued a dividend of $0.78 per share. The ex-dividend date is Friday, January 19th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.83%. Caterpillar’s dividend payout ratio is currently 216.67%.
In other news, insider Bradley M. Halverson sold 2,600 shares of the stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $137.67, for a total transaction of $357,942.00. Following the completion of the sale, the insider now directly owns 5,214 shares in the company, valued at $717,811.38. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Thomas A. Pellette sold 24,547 shares of the firm’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $135.69, for a total transaction of $3,330,782.43. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,989 shares of company stock valued at $7,235,850. 0.14% of the stock is currently owned by company insiders.
Several research firms have issued reports on CAT. Citigroup upped their price target on shares of Caterpillar from $145.00 to $160.00 and gave the company a “neutral” rating in a research report on Thursday, December 21st. Vetr upgraded shares of Caterpillar from a “sell” rating to a “hold” rating and set a $131.05 price target for the company in a research report on Thursday, October 19th. Zacks Investment Research lowered shares of Caterpillar from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Argus upped their price target on shares of Caterpillar from $130.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, October 26th. Finally, Bank of America restated a “buy” rating and set a $189.00 price target (up from $158.00) on shares of Caterpillar in a research report on Friday, January 12th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and sixteen have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $156.64.
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Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through segments, including Construction Industries, which is engaged in supporting customers using machinery in infrastructure, forestry and building construction; Resource Industries, which is engaged in supporting customers using machinery in mining, quarry, waste and material handling applications; Energy & Transportation, which supports customers in oil and gas, power generation, marine, rail and industrial applications, including Cat machines; Financial Products segment, which provides financing and related services, and All Other operating segments, which includes activities, such as product management and development, and manufacturing of filters and fluids, undercarriage, tires and rims, ground engaging tools, fluid transfer products, and sealing and connecting components for Cat products.
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