Myriad Asset Management US LP Acquires Shares of 4,243 Caterpillar Inc. (NYSE:CAT)

Myriad Asset Management US LP bought a new position in shares of Caterpillar Inc. (NYSE:CAT) in the 4th quarter, Holdings Channel reports. The fund bought 4,243 shares of the industrial products company’s stock, valued at approximately $1,539,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. FSM Wealth Advisors LLC raised its position in shares of Caterpillar by 3.8% in the fourth quarter. FSM Wealth Advisors LLC now owns 688 shares of the industrial products company’s stock valued at $262,000 after buying an additional 25 shares in the last quarter. Smallwood Wealth Investment Management LLC lifted its stake in Caterpillar by 2.6% in the 3rd quarter. Smallwood Wealth Investment Management LLC now owns 1,037 shares of the industrial products company’s stock valued at $405,000 after purchasing an additional 26 shares during the last quarter. Allen Capital Group LLC boosted its position in Caterpillar by 0.6% in the fourth quarter. Allen Capital Group LLC now owns 4,247 shares of the industrial products company’s stock valued at $1,541,000 after buying an additional 26 shares in the last quarter. Wagner Wealth Management LLC increased its holdings in shares of Caterpillar by 4.0% during the fourth quarter. Wagner Wealth Management LLC now owns 668 shares of the industrial products company’s stock worth $242,000 after buying an additional 26 shares in the last quarter. Finally, First Bank & Trust lifted its stake in shares of Caterpillar by 4.0% in the 3rd quarter. First Bank & Trust now owns 709 shares of the industrial products company’s stock valued at $277,000 after acquiring an additional 27 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. lowered their target price on Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Morgan Stanley cut their price objective on Caterpillar from $330.00 to $300.00 and set an “underweight” rating on the stock in a research note on Friday, January 31st. Bank of America lowered their price objective on Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Citigroup raised their price objective on shares of Caterpillar from $420.00 to $430.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Finally, Truist Financial cut their target price on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Caterpillar presently has a consensus rating of “Hold” and an average price target of $383.13.

Caterpillar Trading Down 0.1 %

Shares of CAT stock opened at $353.31 on Friday. Caterpillar Inc. has a 12-month low of $307.05 and a 12-month high of $418.50. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. The company has a 50 day moving average of $373.30 and a 200-day moving average of $371.69. The firm has a market cap of $170.58 billion, a P/E ratio of 16.01, a PEG ratio of 1.94 and a beta of 1.12.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. Sell-side analysts anticipate that Caterpillar Inc. will post 20.05 earnings per share for the current year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders 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 annualized dividend and a dividend yield of 1.60%. Caterpillar’s payout ratio is currently 25.56%.

Insider Transactions at Caterpillar

In other news, insider Anthony D. Fassino sold 6,279 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $408.59, for a total transaction of $2,565,536.61. Following the completion of the sale, the insider now owns 33,565 shares of the company’s stock, valued at approximately $13,714,323.35. This represents a 15.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $380.09, for a total value of $3,800,900.00. Following the completion of the sale, the chief financial officer now directly owns 45,182 shares in the company, valued at $17,173,226.38. The trade was a 18.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is owned by insiders.

Caterpillar 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.