Redmond Asset Management LLC Makes New Investment in Caterpillar Inc. (NYSE:CAT)

Redmond Asset Management LLC acquired a new stake in Caterpillar Inc. (NYSE:CAT) in the 4th quarter, Holdings Channel reports. The fund acquired 6,661 shares of the industrial products company’s stock, valued at approximately $2,416,000.

Other hedge funds have also made changes to their positions in the company. Capital Performance Advisors LLP acquired a new position in shares of Caterpillar during the 3rd quarter valued at $36,000. Retirement Wealth Solutions LLC acquired a new position in Caterpillar during the fourth quarter worth about $34,000. Kimelman & Baird LLC raised its position in Caterpillar by 42.9% in the third quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 30 shares in the last quarter. Albion Financial Group UT raised its holdings in shares of Caterpillar by 334.8% in the 4th quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 77 shares in the last quarter. Finally, Trivant Custom Portfolio Group LLC lifted its position in shares of Caterpillar by 130.0% during the 4th quarter. Trivant Custom Portfolio Group LLC now owns 115 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 65 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CAT shares. StockNews.com raised Caterpillar from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. Robert W. Baird upped their price target on shares of Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research report on Thursday, October 31st. Jefferies Financial Group lifted their price objective 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. UBS Group upgraded Caterpillar from a “sell” rating to a “neutral” rating and increased their target price for the company from $355.00 to $385.00 in a report on Monday, February 3rd. Finally, Citigroup boosted their price target on shares of Caterpillar from $420.00 to $430.00 and gave the company a “buy” rating in a report on Friday, January 31st. Two 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $383.80.

Insiders Place Their Bets

In other Caterpillar news, insider Anthony D. Fassino sold 6,279 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $408.59, for a total value of $2,565,536.61. Following the sale, the insider now directly owns 33,565 shares in the company, valued at $13,714,323.35. This trade represents a 15.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jason Kaiser sold 2,425 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total transaction of $860,147.50. Following the completion of the sale, the insider now owns 6,275 shares in the company, valued at $2,225,742.50. This represents a 27.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,704 shares of company stock valued at $7,226,584 in the last three months. Company insiders own 0.29% of the company’s stock.

Caterpillar Trading Down 2.7 %

Shares of CAT stock opened at $339.84 on Friday. The business’s 50 day moving average is $369.54 and its two-hundred day moving average is $372.24. 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 12 month low of $307.05 and a 12 month high of $418.50. The company has a market cap of $162.42 billion, a PE ratio of 15.40, a price-to-earnings-growth ratio of 1.89 and a beta of 1.12.

Caterpillar (NYSE:CAT) last announced its earnings results on Thursday, January 30th. The industrial products company reported $5.14 EPS for the quarter, topping the consensus estimate of $4.97 by $0.17. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. Equities analysts predict that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st were issued a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend was Tuesday, January 21st. Caterpillar’s dividend payout ratio (DPR) is currently 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.