Boomfish Wealth Group LLC Boosts Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Boomfish Wealth Group LLC increased its position in Caterpillar Inc. (NYSE:CAT) by 15.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 663 shares of the industrial products company’s stock after purchasing an additional 91 shares during the period. Boomfish Wealth Group LLC’s holdings in Caterpillar were worth $241,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Retirement Wealth Solutions LLC bought a new position in shares of Caterpillar during the fourth quarter valued at approximately $34,000. Capital Performance Advisors LLP bought a new position in Caterpillar in the third quarter worth $36,000. Albion Financial Group UT boosted its holdings in shares of Caterpillar by 334.8% during the 4th quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock valued at $36,000 after buying an additional 77 shares in the last quarter. Kimelman & Baird LLC grew its position in shares of Caterpillar by 42.9% in the 3rd quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock worth $39,000 after buying an additional 30 shares during the period. Finally, Trivant Custom Portfolio Group LLC lifted its position in Caterpillar by 130.0% during the 4th quarter. Trivant Custom Portfolio Group LLC now owns 115 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 65 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Analyst Upgrades and Downgrades

CAT has been the subject of several recent research reports. UBS Group lifted their target price on shares of Caterpillar from $295.00 to $355.00 and gave the company a “sell” rating in a report on Tuesday. JPMorgan Chase & Co. raised their price target on Caterpillar from $500.00 to $515.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Truist Financial cut their price objective on shares of Caterpillar from $471.00 to $455.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Robert W. Baird raised their price objective on shares of Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research note on Thursday, October 31st. Finally, Citigroup cut their price target on shares of Caterpillar from $460.00 to $420.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $384.60.

Caterpillar Stock Performance

Shares of CAT opened at $375.98 on Friday. The firm has a market capitalization of $181.52 billion, a P/E ratio of 17.43, a PEG ratio of 2.05 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 $299.93 and a one year high of $418.50. The business has a fifty day moving average of $381.68 and a 200 day moving average of $370.78.

Caterpillar (NYSE:CAT) last released its quarterly earnings results 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 59.09% and a net margin of 16.26%. As a group, sell-side analysts anticipate that Caterpillar Inc. will post 21.71 EPS for the current year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Tuesday, January 21st will be paid a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Tuesday, January 21st. Caterpillar’s dividend payout ratio is presently 26.15%.

Insider Activity

In other news, Director Gerald Johnson purchased 100 shares of the stock in a transaction on Wednesday, December 4th. The shares were acquired at an average price of $398.57 per share, with a total value of $39,857.00. Following the completion of the acquisition, the director now directly owns 2,953 shares of the company’s stock, valued at $1,176,977.21. This trade represents a 3.51 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Lange Bob De sold 12,657 shares of the stock in a transaction 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 of the company’s stock, 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. Insiders sold a total of 32,900 shares of company stock valued at $13,111,601 in the last 90 days. Company insiders own 0.29% of the company’s stock.

About Caterpillar

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.