SlateStone Wealth LLC Purchases 1,662 Shares of Caterpillar Inc. (NYSE:CAT)

SlateStone Wealth LLC boosted its stake in Caterpillar Inc. (NYSE:CAT) by 8.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,933 shares of the industrial products company’s stock after purchasing an additional 1,662 shares during the period. SlateStone Wealth LLC’s holdings in Caterpillar were worth $6,485,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Northern Trust Corp increased its holdings in Caterpillar by 1.6% in the third quarter. Northern Trust Corp now owns 6,962,809 shares of the industrial products company’s stock valued at $1,900,847,000 after purchasing an additional 111,384 shares during the period. Morgan Stanley grew its holdings in Caterpillar by 0.7% during the 3rd quarter. Morgan Stanley now owns 6,830,849 shares of the industrial products company’s stock worth $1,864,823,000 after acquiring an additional 47,258 shares during the period. FMR LLC grew its holdings in Caterpillar by 14.9% during the 3rd quarter. FMR LLC now owns 6,038,207 shares of the industrial products company’s stock worth $1,648,431,000 after acquiring an additional 781,111 shares during the period. International Assets Investment Management LLC grew its holdings in Caterpillar by 28,603.5% during the 4th 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 acquiring an additional 1,488,813 shares during the period. Finally, Lazard Asset Management LLC grew its holdings in Caterpillar by 5.4% during the 3rd quarter. Lazard Asset Management LLC now owns 1,399,888 shares of the industrial products company’s stock worth $382,168,000 after acquiring an additional 71,344 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Trading Down 0.1 %

Shares of CAT stock opened at $363.06 on Wednesday. The company has a 50 day moving average of $348.44 and a 200-day moving average of $299.59. The company has a quick ratio of 0.87, a current ratio of 1.35 and a debt-to-equity ratio of 1.25. Caterpillar Inc. has a 12-month low of $204.04 and a 12-month high of $382.01. The firm has a market cap of $181.31 billion, a P/E ratio of 18.04, a PEG ratio of 1.59 and a beta of 1.17.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Monday, February 5th. The industrial products company reported $5.23 earnings per share for the quarter, beating 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 business had revenue of $17.07 billion during the quarter, compared to analyst estimates of $17.06 billion. During the same period in the previous year, the business earned $3.86 EPS. Caterpillar’s revenue was up 2.8% compared to the same quarter last year. Sell-side analysts anticipate that Caterpillar Inc. will post 21.32 earnings per share for the current year.

Caterpillar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Investors 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 yield of 1.43%. Caterpillar’s dividend payout ratio is 25.82%.

Analyst Ratings Changes

A number of analysts have weighed in on CAT shares. Robert W. Baird increased their price target on Caterpillar from $210.00 to $257.00 and gave the stock an “underperform” rating in a report on Tuesday, February 6th. Evercore ISI downgraded Caterpillar from an “outperform” rating to an “in-line” rating and raised their target price for the company from $321.00 to $338.00 in a research note on Tuesday, February 20th. StockNews.com downgraded Caterpillar from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 20th. Citigroup raised their target price on Caterpillar from $255.00 to $340.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. Finally, Truist Financial began coverage on Caterpillar in a research note on Thursday, March 14th. They issued a “buy” rating and a $390.00 target price for the company. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Caterpillar currently has an average rating of “Hold” and a consensus target price of $307.56.

Insider Activity

In other news, insider Anthony D. Fassino sold 4,575 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $329.80, for a total transaction of $1,508,835.00. Following the completion of the transaction, the insider now directly owns 23,474 shares in the company, valued at approximately $7,741,725.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Anthony D. Fassino sold 4,575 shares of Caterpillar stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $329.80, for a total transaction of $1,508,835.00. Following the completion of the sale, the insider now directly owns 23,474 shares of the company’s stock, valued at approximately $7,741,725.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Maclennan acquired 350 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were bought at an average cost of $323.37 per share, with a total value of $113,179.50. Following the completion of the acquisition, the director now directly owns 5,238 shares in the company, valued at approximately $1,693,812.06. The disclosure for this purchase can be found here. Insiders sold 45,769 shares of company stock worth $14,509,306 in the last three months. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Company 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.