BNC Wealth Management LLC Acquires 550 Shares of Caterpillar Inc. (NYSE:CAT)

BNC Wealth Management LLC lifted its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 5.5% during the 4th quarter, Holdings Channel reports. The firm owned 10,574 shares of the industrial products company’s stock after purchasing an additional 550 shares during the quarter. Caterpillar comprises 1.3% of BNC Wealth Management LLC’s holdings, making the stock its 28th largest position. BNC Wealth Management LLC’s holdings in Caterpillar were worth $3,836,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in CAT. Seven Eight Capital LP purchased a new stake in shares of Caterpillar in the second quarter worth approximately $523,000. ProVise Management Group LLC raised its stake in shares of Caterpillar by 36.7% in the second quarter. ProVise Management Group LLC now owns 1,208 shares of the industrial products company’s stock worth $402,000 after purchasing an additional 324 shares during the last quarter. Brighton Jones LLC raised its stake in shares of Caterpillar by 2.5% in the second quarter. Brighton Jones LLC now owns 6,535 shares of the industrial products company’s stock worth $2,177,000 after purchasing an additional 158 shares during the last quarter. Ieq Capital LLC raised its stake in shares of Caterpillar by 11.6% in the second quarter. Ieq Capital LLC now owns 23,642 shares of the industrial products company’s stock worth $7,875,000 after purchasing an additional 2,462 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its stake in shares of Caterpillar by 10.5% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 27,695 shares of the industrial products company’s stock worth $9,225,000 after purchasing an additional 2,627 shares during the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Trading Up 1.4 %

CAT opened at $386.03 on Friday. The business has a 50 day simple moving average of $380.09 and a two-hundred day simple moving average of $367.03. The firm has a market capitalization of $186.38 billion, a price-to-earnings ratio of 17.90, a PEG ratio of 1.72 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 one year low of $277.66 and a one 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 EPS for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The business 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%. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period in the previous year, the company earned $5.52 EPS. Analysts predict that Caterpillar Inc. will post 21.68 EPS for the current year.

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st will be issued a dividend of $1.41 per share. The ex-dividend date is Tuesday, January 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.46%. Caterpillar’s dividend payout ratio (DPR) is 26.15%.

Analysts Set New Price Targets

Several analysts have recently commented on CAT shares. Morgan Stanley downgraded Caterpillar from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $349.00 to $332.00 in a research note on Monday, October 14th. Truist Financial decreased their price target on Caterpillar from $471.00 to $455.00 and set a “buy” rating for the company in a research report on Thursday. JPMorgan Chase & Co. increased their price target on Caterpillar from $500.00 to $515.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Citigroup decreased their price target on Caterpillar from $460.00 to $420.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Finally, Bank of America increased their price target on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $380.60.

Insiders Place Their Bets

In other Caterpillar news, Director Daniel M. Dickinson sold 1,300 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $418.00, for a total transaction of $543,400.00. Following the transaction, the director now owns 4,976 shares in the company, valued at approximately $2,079,968. This represents a 20.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lange Bob De sold 12,657 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $410.25, for a total value of $5,192,534.25. Following the completion of the sale, the insider now owns 71,107 shares in the company, valued at $29,171,646.75. The trade was a 15.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,868 shares of company stock worth $13,480,389. Company insiders own 0.29% of the company’s stock.

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.