Resonant Capital Advisors LLC Boosts Holdings in Caterpillar Inc. (NYSE:CAT)

Resonant Capital Advisors LLC raised its stake in shares of Caterpillar Inc. (NYSE:CAT) by 3.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,826 shares of the industrial products company’s stock after acquiring an additional 65 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Caterpillar were worth $662,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nordea Investment Management AB increased its position in Caterpillar by 1.6% during the fourth quarter. Nordea Investment Management AB now owns 635,750 shares of the industrial products company’s stock worth $231,686,000 after purchasing an additional 10,212 shares during the last quarter. West Wealth Group LLC acquired a new stake in Caterpillar during the fourth quarter worth about $230,000. Alpha Cubed Investments LLC increased its position in Caterpillar by 5.6% during the third quarter. Alpha Cubed Investments LLC now owns 116,566 shares of the industrial products company’s stock worth $45,591,000 after purchasing an additional 6,212 shares during the last quarter. Citizens Financial Group Inc. RI increased its position in Caterpillar by 43.0% during the third quarter. Citizens Financial Group Inc. RI now owns 13,902 shares of the industrial products company’s stock worth $5,437,000 after purchasing an additional 4,181 shares during the last quarter. Finally, Cadinha & Co. LLC acquired a new stake in Caterpillar during the fourth quarter worth about $11,084,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Caterpillar

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $380.09, for a total value 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 $17,173,226.38. This represents a 18.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Daniel M. Dickinson sold 1,300 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 4,976 shares of the company’s stock, valued at $2,079,968. The trade was a 20.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,236 shares of company stock worth $12,102,371 over the last 90 days. Insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

CAT has been the subject of a number of recent analyst reports. UBS Group upgraded shares of Caterpillar from a “sell” rating to a “neutral” rating and lifted their price target for the company from $355.00 to $385.00 in a research report on Monday. JPMorgan Chase & Co. dropped their price target on shares of Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a research report on Friday. Jefferies Financial Group lifted their price target on shares of Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Morgan Stanley dropped their price target on shares of Caterpillar from $330.00 to $300.00 and set an “underweight” rating for the company in a research report on Friday. Finally, Citigroup lifted their price target on shares of Caterpillar from $420.00 to $430.00 and gave the company a “buy” rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $381.00.

Caterpillar Trading Down 2.6 %

Shares of CAT stock opened at $361.62 on Tuesday. The stock has a market cap of $174.59 billion, a price-to-earnings ratio of 16.39, a price-to-earnings-growth ratio of 1.95 and a beta of 1.12. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. Caterpillar Inc. has a fifty-two week low of $307.05 and a fifty-two week high of $418.50. The firm’s 50 day moving average price is $380.88 and its two-hundred day moving average price is $371.17.

Caterpillar (NYSE:CAT) last posted its earnings results on Thursday, January 30th. The industrial products company reported $5.14 EPS for the quarter, topping analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. On average, analysts anticipate that Caterpillar Inc. will post 21.45 EPS for the current year.

Caterpillar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st will be paid 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 1.56%. Caterpillar’s payout ratio is 25.56%.

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.