Veracity Capital LLC Raises Stock Position in Caterpillar Inc. (NYSE:CAT)

Veracity Capital LLC lifted its stake in shares of Caterpillar Inc. (NYSE:CAT) by 4.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,536 shares of the industrial products company’s stock after purchasing an additional 109 shares during the period. Veracity Capital LLC’s holdings in Caterpillar were worth $920,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of CAT. Public Sector Pension Investment Board increased its stake in Caterpillar by 52.5% during the second quarter. Public Sector Pension Investment Board now owns 17,448 shares of the industrial products company’s stock worth $5,812,000 after purchasing an additional 6,008 shares during the period. AQR Capital Management LLC boosted its stake in shares of Caterpillar by 39.1% in the second quarter. AQR Capital Management LLC now owns 255,605 shares of the industrial products company’s stock valued at $84,976,000 after buying an additional 71,788 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Caterpillar by 10.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,108,817 shares of the industrial products company’s stock worth $702,431,000 after purchasing an additional 198,123 shares during the period. Deerfield Management Company L.P. Series C acquired a new position in shares of Caterpillar during the 2nd quarter worth approximately $651,000. Finally, Daymark Wealth Partners LLC raised its stake in Caterpillar by 0.7% in the 2nd quarter. Daymark Wealth Partners LLC now owns 128,254 shares of the industrial products company’s stock valued at $42,721,000 after purchasing an additional 913 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Trading Up 2.3 %

Caterpillar stock opened at $406.87 on Friday. The company has a market cap of $196.44 billion, a price-to-earnings ratio of 18.86, a P/E/G ratio of 1.97 and a beta of 1.13. Caterpillar Inc. has a one year low of $288.34 and a one year high of $418.50. The firm has a 50-day moving average of $380.20 and a 200-day moving average of $368.38. 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 (NYSE:CAT) last announced its earnings results 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). Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The company had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. During the same period in the previous year, the firm posted $5.52 EPS. The business’s quarterly revenue was down 4.2% on a year-over-year basis. On average, equities analysts expect that Caterpillar Inc. will post 21.69 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Tuesday, January 21st will be paid a $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend is Tuesday, January 21st. Caterpillar’s payout ratio is 26.15%.

Insider Buying and Selling

In related news, 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 transaction, the insider now owns 12,951 shares of the company’s stock, valued at approximately $4,906,356.84. This trade represents a 17.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gerald Johnson bought 100 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were purchased at an average cost of $398.57 per share, for a total transaction of $39,857.00. Following the transaction, the director now owns 2,953 shares in the company, valued at approximately $1,176,977.21. This represents a 3.51 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 33,868 shares of company stock worth $13,480,389 in the last 90 days. Insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

CAT has been the topic of a number of recent analyst reports. Morgan Stanley downgraded shares of Caterpillar from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $349.00 to $332.00 in a research note on Monday, October 14th. Bank of America boosted their target price on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Robert W. Baird increased their price target on Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research report on Thursday, October 31st. Jefferies Financial Group raised their price target on shares of Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Finally, Citigroup decreased their price objective on Caterpillar from $460.00 to $420.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. 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 stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $380.60.

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.