Cornerstone Wealth Management LLC Acquires 179 Shares of Caterpillar Inc. (NYSE:CAT)

Cornerstone Wealth Management LLC lifted its position in Caterpillar Inc. (NYSE:CAT) by 4.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,082 shares of the industrial products company’s stock after acquiring an additional 179 shares during the period. Cornerstone Wealth Management LLC’s holdings in Caterpillar were worth $1,481,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC raised its position in shares of Caterpillar by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 10,213,455 shares of the industrial products company’s stock worth $3,987,206,000 after acquiring an additional 67,148 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of Caterpillar by 2.3% in the 3rd quarter. Fisher Asset Management LLC now owns 8,952,632 shares of the industrial products company’s stock worth $3,501,554,000 after acquiring an additional 205,012 shares in the last quarter. Legal & General Group Plc raised its position in shares of Caterpillar by 2.0% in the 2nd quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company’s stock worth $1,286,582,000 after acquiring an additional 75,973 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Caterpillar by 1.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,627,513 shares of the industrial products company’s stock worth $1,418,793,000 after acquiring an additional 64,452 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Caterpillar by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,227,378 shares of the industrial products company’s stock worth $1,262,290,000 after acquiring an additional 8,088 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Caterpillar Price Performance

NYSE CAT opened at $407.95 on Friday. The business’s fifty day moving average price is $380.59 and its 200-day moving average price is $368.65. The stock has a market capitalization of $196.96 billion, a price-to-earnings ratio of 18.91, a PEG ratio of 1.97 and a beta of 1.13. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86. Caterpillar Inc. has a 1-year low of $293.13 and a 1-year high of $418.50.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing the consensus estimate of $5.33 by ($0.16). The firm had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. Caterpillar’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the company earned $5.52 earnings per share. On average, equities analysts predict that Caterpillar Inc. will post 21.69 earnings per share for the current year.

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Tuesday, January 21st will be issued a $1.41 dividend. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.38%. Caterpillar’s dividend payout ratio is currently 26.15%.

Analysts Set New Price Targets

Several analysts recently weighed in on CAT shares. Truist Financial cut their price target on Caterpillar from $471.00 to $455.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Citigroup cut their price target on Caterpillar from $460.00 to $420.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. Robert W. Baird upped their price target on Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research note on Thursday, October 31st. Finally, Bank of America upped their price target on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $380.60.

Insider Buying and Selling

In other Caterpillar news, Director Daniel M. Dickinson sold 1,300 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $418.00, for a total transaction of $543,400.00. Following the sale, the director now directly owns 4,976 shares of the company’s stock, valued at $2,079,968. This trade represents a 20.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Cheryl H. Johnson sold 2,664 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $378.84, for a total value of $1,009,229.76. Following the sale, the insider now directly owns 12,951 shares in the company, valued at approximately $4,906,356.84. This represents a 17.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,868 shares of company stock valued at $13,480,389. 0.29% of the stock is owned by company insiders.

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.