GAMMA Investing LLC Acquires 586 Shares of Caterpillar Inc. (NYSE:CAT)

GAMMA Investing LLC raised its holdings in Caterpillar Inc. (NYSE:CAT) by 7.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,566 shares of the industrial products company’s stock after acquiring an additional 586 shares during the quarter. GAMMA Investing LLC’s holdings in Caterpillar were worth $3,107,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Fairscale Capital LLC purchased a new position in Caterpillar in the 2nd quarter worth about $36,000. Capital Performance Advisors LLP purchased a new position in shares of Caterpillar during the third quarter worth approximately $36,000. Kimelman & Baird LLC raised its stake in shares of Caterpillar by 42.9% during the third quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 30 shares in the last quarter. HWG Holdings LP purchased a new stake in shares of Caterpillar in the second quarter valued at approximately $54,000. Finally, SOA Wealth Advisors LLC. grew its stake in Caterpillar by 47.2% in the third quarter. SOA Wealth Advisors LLC. now owns 156 shares of the industrial products company’s stock worth $61,000 after purchasing an additional 50 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CAT shares. Jefferies Financial Group lifted their target price on Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Citigroup upped their price objective on shares of Caterpillar from $435.00 to $460.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Robert W. Baird increased their target price on shares of Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a report on Thursday, October 31st. Bank of America boosted their price target on shares of Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a report on Monday, September 30th. Finally, Truist Financial lifted their price objective on shares of Caterpillar from $454.00 to $471.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $384.33.

Caterpillar Stock Down 0.8 %

Shares of CAT stock opened at $359.77 on Friday. The stock’s fifty day moving average price is $384.88 and its 200 day moving average price is $363.74. 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 Inc. has a 1-year low of $276.94 and a 1-year high of $418.50. The company has a market cap of $173.70 billion, a price-to-earnings ratio of 16.68, a price-to-earnings-growth ratio of 1.92 and a beta of 1.10.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.33 by ($0.16). The company had revenue of $16.11 billion for the quarter, compared to analyst estimates of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The business’s revenue was down 4.2% compared to the same quarter last year. During the same quarter last year, the company earned $5.52 EPS. On average, research analysts expect that Caterpillar Inc. will post 21.68 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders 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 dividend yield of 1.57%. Caterpillar’s payout ratio is currently 26.15%.

Insider Activity

In other Caterpillar news, insider Lange Bob De sold 12,657 shares of Caterpillar stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the completion of the sale, the insider now directly owns 71,107 shares in the company, valued at approximately $29,171,646.75. The trade was a 15.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Gerald Johnson acquired 100 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was acquired at an average price of $398.57 per share, for a total transaction of $39,857.00. Following the purchase, the director now directly owns 2,953 shares of the company’s stock, valued at approximately $1,176,977.21. This trade represents a 3.51 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 23,868 shares of company stock valued at $9,679,489 over the last ninety days. 0.29% of the stock is currently owned by 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.