Andina Capital Management LLC Purchases New Stake in Caterpillar Inc. (NYSE:CAT)

Andina Capital Management LLC purchased a new position in Caterpillar Inc. (NYSE:CAT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 900 shares of the industrial products company’s stock, valued at approximately $266,000.

A number of other hedge funds have also recently modified their holdings of the company. Lodestar Private Asset Management LLC raised its position in Caterpillar by 4.4% during the 4th quarter. Lodestar Private Asset Management LLC now owns 830 shares of the industrial products company’s stock valued at $245,000 after purchasing an additional 35 shares during the last quarter. Desjardins Global Asset Management Inc. lifted its stake in Caterpillar by 1.4% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 2,616 shares of the industrial products company’s stock worth $774,000 after acquiring an additional 35 shares during the period. Cornerstone Wealth Management LLC boosted its holdings in Caterpillar by 1.0% in the fourth quarter. Cornerstone Wealth Management LLC now owns 3,507 shares of the industrial products company’s stock valued at $1,037,000 after acquiring an additional 36 shares in the last quarter. ACT Wealth Management LLC raised its holdings in Caterpillar by 4.3% in the 4th quarter. ACT Wealth Management LLC now owns 877 shares of the industrial products company’s stock worth $259,000 after purchasing an additional 36 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC lifted its position in shares of Caterpillar by 2.0% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 1,893 shares of the industrial products company’s stock worth $560,000 after purchasing an additional 37 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Oppenheimer reiterated a “market perform” rating on shares of Caterpillar in a research report on Thursday, April 18th. TD Cowen increased their target price on Caterpillar from $338.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Evercore ISI cut Caterpillar from an “outperform” rating to an “in-line” rating and upped their price target for the stock from $321.00 to $338.00 in a research note on Tuesday, February 20th. Truist Financial started coverage on Caterpillar in a research report on Thursday, March 14th. They set a “buy” rating and a $390.00 price objective for the company. Finally, The Goldman Sachs Group upped their target price on shares of Caterpillar from $357.00 to $408.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $323.35.

Insider Activity

In other Caterpillar news, insider Lange Bob De sold 21,194 shares of Caterpillar stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $325.52, for a total value of $6,899,070.88. Following the completion of the sale, the insider now owns 61,092 shares of the company’s stock, valued at approximately $19,886,667.84. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Caterpillar news, insider Lange Bob De sold 21,194 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $325.52, for a total value of $6,899,070.88. Following the transaction, the insider now owns 61,092 shares of the company’s stock, valued at $19,886,667.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director David Maclennan purchased 350 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were purchased at an average price of $323.37 per share, with a total value of $113,179.50. Following the completion of the purchase, the director now owns 5,238 shares in the company, valued at $1,693,812.06. The disclosure for this purchase can be found here. Insiders sold 35,769 shares of company stock valued at $11,508,906 over the last three months. Insiders own 0.33% of the company’s stock.

Caterpillar Stock Down 0.8 %

Shares of CAT traded down $2.64 on Wednesday, hitting $331.93. 1,483,868 shares of the stock traded hands, compared to its average volume of 2,500,952. The company has a market capitalization of $165.77 billion, a PE ratio of 15.10, a P/E/G ratio of 1.51 and a beta of 1.17. Caterpillar Inc. has a one year low of $205.60 and a one year high of $382.01. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.83 and a current ratio of 1.35. The business has a 50 day simple moving average of $351.08 and a 200 day simple moving average of $302.22.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Thursday, April 25th. The industrial products company reported $5.60 earnings per share for the quarter, topping the consensus estimate of $5.12 by $0.48. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. The firm had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $16.07 billion. As a group, equities analysts forecast that Caterpillar Inc. will post 21.57 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, April 22nd will be paid a $1.30 dividend. The ex-dividend date is Friday, April 19th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 1.57%. Caterpillar’s dividend payout ratio is presently 23.48%.

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.