Red Door Wealth Management LLC Increases Holdings in Caterpillar Inc. (NYSE:CAT)

Red Door Wealth Management LLC grew its holdings in Caterpillar Inc. (NYSE:CAT) by 3.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 2,043 shares of the industrial products company’s stock after buying an additional 64 shares during the quarter. Red Door Wealth Management LLC’s holdings in Caterpillar were worth $741,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CAT. Smallwood Wealth Investment Management LLC boosted its holdings in Caterpillar by 2.6% in the third quarter. Smallwood Wealth Investment Management LLC now owns 1,037 shares of the industrial products company’s stock valued at $405,000 after acquiring an additional 26 shares in the last quarter. First Bank & Trust boosted its stake in shares of Caterpillar by 4.0% during the 3rd quarter. First Bank & Trust now owns 709 shares of the industrial products company’s stock valued at $277,000 after purchasing an additional 27 shares in the last quarter. Washington Trust Bank increased its position in shares of Caterpillar by 1.2% during the third quarter. Washington Trust Bank now owns 2,349 shares of the industrial products company’s stock valued at $919,000 after buying an additional 27 shares during the period. Channel Wealth LLC lifted its holdings in Caterpillar by 1.9% in the fourth quarter. Channel Wealth LLC now owns 1,468 shares of the industrial products company’s stock worth $533,000 after buying an additional 27 shares during the period. Finally, Pacifica Partners Inc. boosted its position in Caterpillar by 1.6% during the 3rd quarter. Pacifica Partners Inc. now owns 1,807 shares of the industrial products company’s stock valued at $707,000 after acquiring an additional 28 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $406.87 on Friday. Caterpillar Inc. has a twelve month low of $288.34 and a twelve month high of $418.50. The firm’s 50 day moving average price is $380.20 and its 200-day moving average price is $368.38. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. The stock has a market capitalization of $196.44 billion, a PE ratio of 18.86, a price-to-earnings-growth ratio of 1.97 and a beta of 1.13.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The company had revenue of $16.11 billion for the quarter, compared to analysts’ expectations of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The firm’s quarterly revenue was down 4.2% on a year-over-year basis. During the same period in the previous year, the firm earned $5.52 earnings per share. Equities research analysts expect that Caterpillar Inc. will post 21.69 EPS for the current year.

Caterpillar Announces Dividend

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

Analyst Upgrades and Downgrades

CAT has been the subject of several research reports. Truist Financial decreased their target price on Caterpillar from $471.00 to $455.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. UBS Group boosted their target price on shares of Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a report on Monday, November 4th. Jefferies Financial Group increased their price target on shares of Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Morgan Stanley cut shares of Caterpillar from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $349.00 to $332.00 in a report on Monday, October 14th. Finally, Bank of America lifted their target price on shares of Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a report on Monday, September 30th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Caterpillar has an average rating of “Hold” and an average price target of $380.60.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, CAO William E. Schaupp sold 968 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $380.98, for a total transaction of $368,788.64. Following the completion of the sale, the chief accounting officer now directly owns 1,686 shares of the company’s stock, valued at $642,332.28. This trade represents a 36.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Daniel M. Dickinson sold 1,300 shares of the business’s stock in a transaction 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 completion of the transaction, the director now directly owns 4,976 shares in the company, valued at $2,079,968. This trade represents a 20.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,868 shares of company stock valued at $13,480,389 over the last ninety days. 0.29% of the stock is currently owned by company 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.