Klingenstein Fields & Co. LP Boosts Holdings in Caterpillar Inc. (NYSE:CAT)

Klingenstein Fields & Co. LP increased its holdings in Caterpillar Inc. (NYSE:CAT) by 2.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,703 shares of the industrial products company’s stock after acquiring an additional 64 shares during the quarter. Klingenstein Fields & Co. LP’s holdings in Caterpillar were worth $799,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Commerzbank Aktiengesellschaft FI increased its stake in shares of Caterpillar by 38.4% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 1,829 shares of the industrial products company’s stock worth $541,000 after acquiring an additional 507 shares in the last quarter. PSI Advisors LLC increased its stake in shares of Caterpillar by 12.8% in the 4th quarter. PSI Advisors LLC now owns 2,664 shares of the industrial products company’s stock worth $787,000 after acquiring an additional 303 shares in the last quarter. Cetera Trust Company N.A bought a new position in shares of Caterpillar in the 4th quarter worth about $106,000. Handelsbanken Fonder AB increased its stake in shares of Caterpillar by 20.5% in the 4th quarter. Handelsbanken Fonder AB now owns 163,201 shares of the industrial products company’s stock worth $48,254,000 after acquiring an additional 27,779 shares in the last quarter. Finally, CWM LLC increased its stake in shares of Caterpillar by 34.3% in the 4th quarter. CWM LLC now owns 48,288 shares of the industrial products company’s stock worth $14,277,000 after acquiring an additional 12,324 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors.

Insider Activity

In other 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 transaction of $6,899,070.88. Following the sale, the insider now owns 61,092 shares in the company, valued at $19,886,667.84. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $310.10, for a total transaction of $3,101,000.00. Following the sale, the chief financial officer now owns 57,317 shares in the company, valued at $17,774,001.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Lange Bob De sold 21,194 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $325.52, for a total transaction of $6,899,070.88. Following the completion of the sale, the insider now owns 61,092 shares in the company, valued at approximately $19,886,667.84. The disclosure for this sale can be found here. Insiders have sold a total of 45,769 shares of company stock worth $14,509,306 over the last quarter. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CAT. Wells Fargo & Company raised their price objective on shares of Caterpillar from $290.00 to $325.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. Citigroup raised their price objective 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. TD Cowen raised their price objective on shares of Caterpillar from $300.00 to $338.00 and gave the company an “outperform” rating in a research note on Tuesday, February 6th. Truist Financial began coverage on shares of Caterpillar in a research note on Thursday, March 14th. They set a “buy” rating and a $390.00 price objective for the company. Finally, The Goldman Sachs Group raised their price objective on shares of Caterpillar from $357.00 to $408.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Caterpillar currently has an average rating of “Hold” and a consensus target price of $307.56.

Caterpillar Stock Performance

Shares of CAT traded down $1.96 on Friday, reaching $354.66. The company’s stock had a trading volume of 2,929,591 shares, compared to its average volume of 2,086,614. 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 12-month low of $204.04 and a 12-month high of $382.01. The stock has a market capitalization of $177.12 billion, a P/E ratio of 17.61, a PEG ratio of 1.57 and a beta of 1.17. The stock’s 50 day simple moving average is $346.70 and its two-hundred day simple moving average is $297.99.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Monday, February 5th. The industrial products company reported $5.23 earnings per share for the quarter, beating the consensus estimate of $4.76 by $0.47. Caterpillar had a net margin of 15.41% and a return on equity of 56.99%. The business had revenue of $17.07 billion for the quarter, compared to the consensus estimate of $17.06 billion. During the same quarter in the previous year, the firm earned $3.86 earnings per share. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. Research analysts forecast that Caterpillar Inc. will post 21.41 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, April 22nd will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend is Friday, April 19th. Caterpillar’s payout ratio is currently 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.