Mattern Wealth Management LLC increased its position in Caterpillar Inc. (NYSE:CAT – Free Report) by 54.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 9,478 shares of the industrial products company’s stock after buying an additional 3,349 shares during the period. Caterpillar accounts for about 0.8% of Mattern Wealth Management LLC’s investment portfolio, making the stock its 26th largest holding. Mattern Wealth Management LLC’s holdings in Caterpillar were worth $3,438,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Ascent Group LLC raised its position in shares of Caterpillar by 19.3% during the second quarter. Ascent Group LLC now owns 953 shares of the industrial products company’s stock valued at $317,000 after buying an additional 154 shares during the last quarter. Magnolia Capital Advisors LLC acquired a new stake in shares of Caterpillar in the 2nd quarter valued at $742,000. Silver Lake Advisory LLC bought a new stake in Caterpillar during the second quarter worth about $322,000. Granite FO LLC bought a new stake in Caterpillar during the 2nd quarter worth approximately $228,000. Finally, Covington Investment Advisors Inc. acquired a new stake in shares of Caterpillar in the second quarter valued at $4,775,000. Institutional investors and hedge funds own 70.98% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Caterpillar from $500.00 to $515.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Truist Financial lowered their price target on Caterpillar from $471.00 to $455.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Citigroup reduced their target price on Caterpillar from $460.00 to $420.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Evercore ISI upgraded shares of Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 price target for the company in a report on Monday, January 13th. Finally, StockNews.com cut Caterpillar from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $380.60.
Caterpillar Stock Down 3.2 %
CAT stock opened at $394.60 on Tuesday. Caterpillar Inc. has a 1-year low of $297.45 and a 1-year high of $418.50. The business’s 50 day simple moving average is $381.07 and its 200 day simple moving average is $369.79. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. The firm has a market capitalization of $190.51 billion, a PE ratio of 18.29, a PEG ratio of 1.97 and a beta of 1.13.
Caterpillar (NYSE:CAT – Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing the consensus estimate of $5.33 by ($0.16). The company had revenue of $16.11 billion during the quarter, compared to analyst estimates of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. Caterpillar’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.52 earnings per share. As a group, research analysts anticipate that Caterpillar Inc. will post 21.69 EPS for the current year.
Caterpillar Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Tuesday, January 21st will be issued a dividend of $1.41 per share. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $5.64 annualized dividend and a yield of 1.43%. Caterpillar’s payout ratio is currently 26.15%.
Insider Transactions at Caterpillar
In other Caterpillar news, insider Lange Bob De sold 12,657 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the sale, the insider now directly owns 71,107 shares in the company, valued at $29,171,646.75. This represents a 15.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the completion of the transaction, the chief financial officer now owns 45,182 shares of the company’s stock, 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. Over the last 90 days, insiders sold 33,868 shares of company stock valued at $13,480,389. 0.29% of the stock is currently owned by corporate 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.
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