Caterpillar Inc. (NYSE:CAT) Stock Position Raised by Grimes & Company Inc.

Grimes & Company Inc. lifted its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 5.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,354 shares of the industrial products company’s stock after buying an additional 164 shares during the period. Grimes & Company Inc.’s holdings in Caterpillar were worth $1,217,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Nordea Investment Management AB grew its position in shares of Caterpillar by 1.6% during the 4th quarter. Nordea Investment Management AB now owns 635,750 shares of the industrial products company’s stock valued at $231,686,000 after buying an additional 10,212 shares during the last quarter. Alpha Cubed Investments LLC grew its position in shares of Caterpillar by 5.6% during the 3rd quarter. Alpha Cubed Investments LLC now owns 116,566 shares of the industrial products company’s stock valued at $45,591,000 after buying an additional 6,212 shares during the last quarter. Citizens Financial Group Inc. RI grew its position in shares of Caterpillar by 43.0% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 13,902 shares of the industrial products company’s stock valued at $5,437,000 after buying an additional 4,181 shares during the last quarter. Cadinha & Co. LLC bought a new position in Caterpillar in the 4th quarter worth about $11,084,000. Finally, First Affirmative Financial Network bought a new position in Caterpillar in the 3rd quarter worth about $204,000. Institutional investors own 70.98% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Evercore ISI upgraded shares of Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 target price for the company in a research report on Monday, January 13th. Robert W. Baird upped their target price on shares of Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. upped their target price on shares of Caterpillar from $500.00 to $515.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Citigroup decreased their target price on shares of Caterpillar from $460.00 to $420.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Finally, Truist Financial reduced their price target on shares of Caterpillar from $471.00 to $455.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. 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 stock. Based on data from MarketBeat, Caterpillar currently has an average rating of “Hold” and an average target price of $380.60.

Caterpillar Stock Up 0.4 %

CAT stock opened at $407.95 on Friday. Caterpillar Inc. has a 12 month low of $293.13 and a 12 month high of $418.50. The firm has a market cap of $196.96 billion, a PE ratio of 18.91, a P/E/G ratio of 1.97 and a beta of 1.13. The firm has a 50 day simple moving average of $381.07 and a 200 day simple moving average of $369.19. 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 released 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 net margin of 16.26% and a return on equity of 59.09%. The business had revenue of $16.11 billion for the quarter, compared to analyst estimates of $16.37 billion. During the same period in the prior year, the company earned $5.52 earnings per share. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. Equities research analysts forecast that Caterpillar Inc. will post 21.69 earnings per share for the current fiscal 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 given a $1.41 dividend. The ex-dividend date is Tuesday, January 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.38%. Caterpillar’s dividend payout ratio (DPR) is presently 26.15%.

Insider Activity at Caterpillar

In related news, CAO William E. Schaupp sold 968 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $380.98, for a total value of $368,788.64. Following the completion of the sale, the chief accounting officer now owns 1,686 shares in the company, valued at approximately $642,332.28. This represents a 36.47 % 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, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’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 sale, the chief financial officer now owns 45,182 shares of the company’s stock, valued at approximately $17,173,226.38. This trade represents a 18.12 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,868 shares of company stock worth $13,480,389. 0.29% of the stock is owned by corporate insiders.

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.