Sunpointe LLC Buys 4,176 Shares of Caterpillar Inc. (NYSE:CAT)

Sunpointe LLC raised its position in shares of Caterpillar Inc. (NYSE:CAT) by 489.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,029 shares of the industrial products company’s stock after purchasing an additional 4,176 shares during the quarter. Sunpointe LLC’s holdings in Caterpillar were worth $1,824,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. LMG Wealth Partners LLC lifted its position in shares of Caterpillar by 0.7% in the fourth quarter. LMG Wealth Partners LLC now owns 9,892 shares of the industrial products company’s stock valued at $3,588,000 after acquiring an additional 68 shares in the last quarter. Corps Capital Advisors LLC purchased a new position in Caterpillar in the 4th quarter worth approximately $1,830,000. Abacus Planning Group Inc. boosted its stake in Caterpillar by 1.0% in the 4th quarter. Abacus Planning Group Inc. now owns 2,897 shares of the industrial products company’s stock worth $1,051,000 after purchasing an additional 28 shares during the period. Private Wealth Partners LLC grew its holdings in Caterpillar by 10.0% during the 4th quarter. Private Wealth Partners LLC now owns 1,100 shares of the industrial products company’s stock valued at $399,000 after buying an additional 100 shares in the last quarter. Finally, TBH Global Asset Management LLC raised its position in shares of Caterpillar by 1.7% during the fourth quarter. TBH Global Asset Management LLC now owns 2,101 shares of the industrial products company’s stock valued at $762,000 after buying an additional 36 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. 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 report on Monday, February 3rd. Evercore ISI boosted their target price on Caterpillar from $365.00 to $375.00 and gave the stock an “in-line” rating in a research report on Wednesday. JPMorgan Chase & Co. cut their price target on Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Truist Financial lowered their target price on Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Finally, Jefferies Financial Group boosted their price target on shares of Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $383.80.

Caterpillar Trading Down 0.2 %

CAT opened at $353.26 on Thursday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42. The stock’s 50 day moving average price is $370.89 and its 200-day moving average price is $372.54. Caterpillar Inc. has a one year low of $307.05 and a one year high of $418.50. The stock has a market cap of $170.55 billion, a price-to-earnings ratio of 16.01, a P/E/G ratio of 1.88 and a beta of 1.12.

Caterpillar (NYSE:CAT) last released its earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share for the quarter, topping analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. On average, equities analysts forecast that Caterpillar Inc. will post 19.98 EPS for the current year.

Caterpillar Announces Dividend

The business 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 $1.41 dividend. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.60%. Caterpillar’s dividend payout ratio is currently 25.56%.

Insider Transactions at Caterpillar

In other news, Director Gerald Johnson purchased 100 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were purchased at an average price of $365.57 per share, for a total transaction of $36,557.00. Following the completion of the purchase, the director now owns 3,053 shares in the company, valued at approximately $1,116,085.21. This represents a 3.39 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jason Kaiser sold 2,425 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total transaction of $860,147.50. Following the transaction, the insider now owns 6,275 shares in the company, valued at approximately $2,225,742.50. The trade was a 27.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,704 shares of company stock valued at $7,226,584. 0.29% of the stock is currently owned by company insiders.

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.