Breed s Hill Capital LLC Acquires Shares of 671 Caterpillar Inc. (NYSE:CAT)

by · The Markets Daily

Breed s Hill Capital LLC acquired a new stake in shares of Caterpillar Inc. (NYSE:CAT – Free Report) in the 4th quarter, Holdings Channel reports. The firm acquired 671 shares of the industrial products company’s stock, valued at approximately $243,000.

Several other institutional investors have also bought and sold shares of the business. Vise Technologies Inc. lifted its position in Caterpillar by 52.6% during the fourth quarter. Vise Technologies Inc. now owns 13,776 shares of the industrial products company’s stock valued at $4,997,000 after purchasing an additional 4,748 shares during the last quarter. Retirement Planning Group LLC raised its stake in shares of Caterpillar by 28.1% in the fourth quarter. Retirement Planning Group LLC now owns 1,580 shares of the industrial products company’s stock valued at $573,000 after acquiring an additional 347 shares during the period. City National Bank of Florida MSD purchased a new stake in shares of Caterpillar in the fourth quarter valued at $326,000. Cornerstone Advisory LLC raised its stake in shares of Caterpillar by 2.3% in the fourth quarter. Cornerstone Advisory LLC now owns 1,755 shares of the industrial products company’s stock valued at $620,000 after acquiring an additional 40 shares during the period. Finally, Highview Capital Management LLC DE raised its stake in shares of Caterpillar by 29.4% in the fourth quarter. Highview Capital Management LLC DE now owns 1,320 shares of the industrial products company’s stock valued at $479,000 after acquiring an additional 300 shares during the period. Institutional investors own 70.98% of the company’s stock.

Insiders Place Their Bets

In other Caterpillar news, Director David Maclennan bought 375 shares of the company’s stock in a transaction on Wednesday, May 7th. The shares were bought at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the acquisition, the director now directly owns 6,653 shares in the company, valued at approximately $2,133,617.10. The trade was a 5.97% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.33% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CAT. Truist Financial reissued a “buy” rating and issued a $396.00 target price (up previously from $389.00) on shares of Caterpillar in a research note on Thursday, May 1st. Wedbush raised shares of Caterpillar to an “outperform” rating in a research note on Monday, February 3rd. Morgan Stanley raised shares of Caterpillar from an “underweight” rating to an “equal weight” rating and reduced their target price for the company from $300.00 to $283.00 in a research note on Wednesday, April 16th. DA Davidson increased their target price on shares of Caterpillar from $325.00 to $331.00 and gave the company a “neutral” rating in a research note on Monday, May 5th. Finally, Wall Street Zen downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Caterpillar has an average rating of “Moderate Buy” and an average target price of $375.33.

Get Our Latest Research Report on Caterpillar

Caterpillar Stock Up 0.7%

Shares of Caterpillar stock opened at $345.03 on Friday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $418.50. The firm’s 50-day moving average is $318.11 and its two-hundred day moving average is $353.24. The stock has a market cap of $162.52 billion, a price-to-earnings ratio of 15.63, a PEG ratio of 1.87 and a beta of 1.35.

Caterpillar (NYSE:CAT – Get Free Report) last issued its earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.35 by ($0.10). Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. The business had revenue of $14.25 billion for the quarter, compared to the consensus estimate of $14.64 billion. During the same quarter in the previous year, the company earned $5.60 earnings per share. The firm’s revenue was down 9.8% on a year-over-year basis. As a group, research analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Monday, April 21st were issued a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend was Monday, April 21st. Caterpillar’s payout ratio is 27.49%.

Caterpillar Profile

(Free Report)

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.

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