Chase Investment Counsel Corp Makes New $270,000 Investment in Caterpillar Inc. (NYSE:CAT)

Chase Investment Counsel Corp acquired a new stake in shares of Caterpillar Inc. (NYSE:CAT) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 914 shares of the industrial products company’s stock, valued at approximately $270,000.

Several other large investors have also recently modified their holdings of CAT. Northern Trust Corp grew its position in Caterpillar by 1.6% during the 3rd quarter. Northern Trust Corp now owns 6,962,809 shares of the industrial products company’s stock worth $1,900,847,000 after acquiring an additional 111,384 shares during the last quarter. Morgan Stanley grew its holdings in shares of Caterpillar by 0.7% in the third quarter. Morgan Stanley now owns 6,830,849 shares of the industrial products company’s stock worth $1,864,823,000 after purchasing an additional 47,258 shares during the last quarter. FMR LLC increased its stake in shares of Caterpillar by 14.9% in the third quarter. FMR LLC now owns 6,038,207 shares of the industrial products company’s stock worth $1,648,431,000 after buying an additional 781,111 shares during the period. International Assets Investment Management LLC raised 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 valued at $4,417,360,000 after buying an additional 1,488,813 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its position 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 valued at $382,168,000 after buying an additional 71,344 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Buying and Selling at Caterpillar

In other news, insider Anthony D. Fassino sold 4,575 shares of Caterpillar stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $329.80, for a total value of $1,508,835.00. Following the completion of the sale, the insider now directly owns 23,474 shares in the company, valued at $7,741,725.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction 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 transaction, the chief financial officer now directly owns 57,317 shares of the company’s stock, valued at approximately $17,774,001.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Anthony D. Fassino sold 4,575 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $329.80, for a total value of $1,508,835.00. Following the completion of the transaction, the insider now owns 23,474 shares in the company, valued at $7,741,725.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,769 shares of company stock worth $11,508,906. Company insiders own 0.33% of the company’s stock.

Caterpillar Stock Up 1.9 %

Shares of Caterpillar stock opened at $349.76 on Tuesday. The company has a 50-day simple moving average of $350.66 and a two-hundred day simple moving average of $301.75. Caterpillar Inc. has a 52-week low of $205.60 and a 52-week 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 stock has a market capitalization of $174.67 billion, a PE ratio of 15.79, a price-to-earnings-growth ratio of 1.52 and a beta of 1.17.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Thursday, April 25th. The industrial products company reported $5.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.12 by $0.48. The business had revenue of $15.80 billion for the quarter, compared to analysts’ expectations of $16.07 billion. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. On average, analysts anticipate that Caterpillar Inc. will post 21.44 EPS for the current fiscal year.

Caterpillar Dividend Announcement

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 issued a $1.30 dividend. The ex-dividend date is Friday, April 19th. This represents a $5.20 annualized dividend and a yield of 1.49%. Caterpillar’s payout ratio is 23.48%.

Analyst Ratings Changes

CAT has been the subject of several recent analyst reports. The Goldman Sachs Group upped 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. Robert W. Baird upped their price target on Caterpillar from $210.00 to $257.00 and gave the company an “underperform” rating in a research report on Tuesday, February 6th. Oppenheimer reiterated a “market perform” rating on shares of Caterpillar in a research report on Thursday, April 18th. Stifel Nicolaus downgraded Caterpillar from a “buy” rating to a “hold” rating and upped their target price for the company from $293.00 to $350.00 in a report on Friday. Finally, Truist Financial assumed coverage on shares of Caterpillar in a research note on Thursday, March 14th. They set a “buy” rating and a $390.00 target price on the stock. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Caterpillar presently has an average rating of “Hold” and a consensus price target of $316.88.

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.