Desjardins Global Asset Management Inc. Acquires 35 Shares of Caterpillar Inc. (NYSE:CAT)

Desjardins Global Asset Management Inc. grew its stake in shares of Caterpillar Inc. (NYSE:CAT) by 1.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,616 shares of the industrial products company’s stock after purchasing an additional 35 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Caterpillar were worth $774,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Moneta Group Investment Advisors LLC grew its holdings in Caterpillar by 130,632.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 9,784,017 shares of the industrial products company’s stock worth $2,343,859,000 after buying an additional 9,776,533 shares in the last quarter. Norges Bank bought a new stake in shares of Caterpillar in the 4th quarter worth $1,175,255,000. Ontario Teachers Pension Plan Board purchased a new stake in shares of Caterpillar in the first quarter valued at about $433,134,000. Imprint Wealth LLC lifted its position in shares of Caterpillar by 24,982.9% during the second quarter. Imprint Wealth LLC now owns 1,538,084 shares of the industrial products company’s stock valued at $153,808,000 after purchasing an additional 1,531,952 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in Caterpillar by 28,603.5% during the fourth quarter. International Assets Investment Management LLC now owns 1,494,018 shares of the industrial products company’s stock worth $4,417,360,000 after purchasing an additional 1,488,813 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Caterpillar

In other news, Director David Maclennan bought 350 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were purchased at an average price of $323.37 per share, for a total transaction of $113,179.50. Following the completion of the acquisition, the director now owns 5,238 shares of the company’s stock, valued at $1,693,812.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $310.10, for a total transaction of $3,101,000.00. Following the completion of the transaction, the chief financial officer now owns 57,317 shares of the company’s stock, valued at approximately $17,774,001.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David Maclennan acquired 350 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was acquired at an average price of $323.37 per share, for a total transaction of $113,179.50. Following the completion of the transaction, the director now owns 5,238 shares in the company, valued at approximately $1,693,812.06. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 45,769 shares of company stock worth $14,509,306. 0.33% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Evercore ISI cut shares of Caterpillar from an “outperform” rating to an “in-line” rating and lifted their target price for the stock from $321.00 to $338.00 in a research report on Tuesday, February 20th. Robert W. Baird upped their price objective on Caterpillar from $210.00 to $257.00 and gave the company an “underperform” rating in a research note on Tuesday, February 6th. Sanford C. Bernstein lifted their target price on Caterpillar from $216.00 to $245.00 and gave the stock a “market perform” rating in a research note on Thursday, December 21st. Truist Financial assumed coverage on shares of Caterpillar in a research report on Thursday, March 14th. They set a “buy” rating and a $390.00 price target for the company. Finally, Citigroup boosted their target price on shares of Caterpillar from $255.00 to $340.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $307.56.

Caterpillar Stock Down 0.4 %

Shares of NYSE CAT opened at $358.33 on Thursday. The stock has a market capitalization of $178.95 billion, a P/E ratio of 17.79, a PEG ratio of 1.60 and a beta of 1.17. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.35 and a quick ratio of 0.87. Caterpillar Inc. has a one year low of $204.04 and a one year high of $382.01. The firm’s 50 day simple moving average is $345.24 and its two-hundred day simple moving average is $296.78.

Caterpillar (NYSE:CAT) last issued its earnings results on Monday, February 5th. The industrial products company reported $5.23 EPS for the quarter, topping analysts’ consensus estimates of $4.76 by $0.47. Caterpillar had a net margin of 15.41% and a return on equity of 56.99%. The company had revenue of $17.07 billion for the quarter, compared to analysts’ expectations of $17.06 billion. During the same quarter last year, the company earned $3.86 EPS. The firm’s revenue was up 2.8% compared to the same quarter last year. As a group, analysts expect that Caterpillar Inc. will post 21.33 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, April 22nd will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Friday, April 19th. This represents a $5.20 annualized dividend and a yield of 1.45%. Caterpillar’s payout ratio is 25.82%.

About Caterpillar

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.