Caterpillar Inc. $CAT Holdings Lifted by Cynosure Group LLC

Cynosure Group LLC increased its holdings in Caterpillar Inc. (NYSE:CAT) by 8,359.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 513,754 shares of the industrial products company’s stock after purchasing an additional 507,681 shares during the period. Caterpillar accounts for 13.7% of Cynosure Group LLC’s holdings, making the stock its 3rd biggest holding. Cynosure Group LLC’s holdings in Caterpillar were worth $294,314,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Torren Management LLC purchased a new position in Caterpillar in the 4th quarter worth approximately $27,000. Frazier Financial Advisors LLC lifted its holdings in Caterpillar by 220.0% in the 4th quarter. Frazier Financial Advisors LLC now owns 48 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 33 shares in the last quarter. IFS Advisors LLC purchased a new position in Caterpillar in the 4th quarter worth approximately $31,000. Rialto Wealth Management LLC lifted its holdings in Caterpillar by 47.4% in the 4th quarter. Rialto Wealth Management LLC now owns 56 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 18 shares in the last quarter. Finally, Cornerstone Financial Management LLC purchased a new stake in shares of Caterpillar during the 4th quarter worth approximately $32,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CAT has been the topic of several recent research reports. Truist Financial set a $1,043.00 price objective on Caterpillar in a report on Friday, May 1st. DA Davidson upped their price objective on Caterpillar from $650.00 to $845.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Williams Trading set a $825.00 price objective on Caterpillar in a report on Tuesday, March 10th. Rothschild & Co Redburn upped their price objective on Caterpillar from $700.00 to $950.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Finally, Argus upped their price objective on Caterpillar from $820.00 to $990.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $933.27.

Caterpillar Stock Performance

NYSE:CAT opened at $933.46 on Tuesday. The stock’s fifty day moving average is $856.17 and its 200 day moving average is $730.40. Caterpillar Inc. has a fifty-two week low of $356.96 and a fifty-two week high of $946.83. The firm has a market capitalization of $429.94 billion, a PE ratio of 46.46, a PEG ratio of 1.80 and a beta of 1.59. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.81 and a current ratio of 1.35.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Thursday, April 30th. The industrial products company reported $5.54 earnings per share for the quarter, beating the consensus estimate of $4.65 by $0.89. Caterpillar had a return on equity of 48.21% and a net margin of 13.33%.The company had revenue of $17.42 billion for the quarter, compared to analyst estimates of $16.53 billion. During the same quarter in the prior year, the firm posted $4.25 EPS. Caterpillar’s quarterly revenue was up 22.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Caterpillar Inc. will post 24.62 earnings per share for the current year.

Caterpillar Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Monday, July 20th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, July 20th. This is a boost from Caterpillar’s previous quarterly dividend of $1.51. Caterpillar’s payout ratio is currently 30.06%.

Insider Activity at Caterpillar

In related news, insider Anthony D. Fassino sold 16,283 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $916.80, for a total transaction of $14,928,254.40. Following the sale, the insider owned 46,041 shares in the company, valued at approximately $42,210,388.80. This represents a 26.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Lange Bob De sold 24,222 shares of the stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $922.92, for a total value of $22,354,968.24. Following the sale, the insider owned 86,029 shares in the company, valued at $79,397,884.68. The trade was a 21.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 95,773 shares of company stock worth $87,642,635 in the last ninety days. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Company Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.