Grimes & Company Inc. Has $1.22 Million Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Grimes & Company Inc. raised its stake in Caterpillar Inc. (NYSE:CAT) by 5.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 3,354 shares of the industrial products company’s stock after purchasing an additional 164 shares during the quarter. Grimes & Company Inc.’s holdings in Caterpillar were worth $1,217,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CAT. Mackenzie Financial Corp increased its stake in shares of Caterpillar by 2.6% during the 2nd quarter. Mackenzie Financial Corp now owns 178,960 shares of the industrial products company’s stock worth $59,612,000 after purchasing an additional 4,465 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Caterpillar during the 2nd quarter worth $30,636,000. Texas Capital Bank Wealth Management Services Inc increased its stake in shares of Caterpillar by 1.8% during the 2nd quarter. Texas Capital Bank Wealth Management Services Inc now owns 25,834 shares of the industrial products company’s stock worth $8,605,000 after purchasing an additional 458 shares during the last quarter. Kathmere Capital Management LLC increased its stake in shares of Caterpillar by 35.4% during the 2nd quarter. Kathmere Capital Management LLC now owns 1,301 shares of the industrial products company’s stock worth $434,000 after purchasing an additional 340 shares during the last quarter. Finally, Ascent Group LLC increased its stake in shares of Caterpillar by 19.3% during the 2nd quarter. Ascent Group LLC now owns 953 shares of the industrial products company’s stock worth $317,000 after purchasing an additional 154 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’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 transaction, the chief financial officer now directly owns 45,182 shares of the company’s stock, valued at approximately $17,173,226.38. The trade was a 18.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Daniel M. Dickinson sold 1,300 shares of the business’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 transaction, the director now directly owns 4,976 shares of the company’s stock, valued at approximately $2,079,968. This represents a 20.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,868 shares of company stock worth $13,480,389 over the last ninety days. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Evercore ISI raised shares of Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 price objective for the company in a report on Monday, January 13th. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Friday, January 17th. Robert W. Baird upped their price objective on shares of Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a report on Thursday, October 31st. Truist Financial decreased their price objective on shares of Caterpillar from $471.00 to $455.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Finally, Bank of America upped their price objective on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Caterpillar has a consensus rating of “Hold” and an average price target of $380.60.

Caterpillar Price Performance

NYSE:CAT opened at $407.95 on Friday. The firm has a market cap of $196.96 billion, a PE ratio of 18.91, a price-to-earnings-growth ratio of 1.97 and a beta of 1.13. Caterpillar Inc. has a 12 month low of $293.13 and a 12 month high of $418.50. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. The company’s 50-day moving average price is $381.07 and its two-hundred day moving average price is $369.19.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The firm had revenue of $16.11 billion during 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%. Caterpillar’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter last year, the firm earned $5.52 earnings per share. On average, equities analysts anticipate that Caterpillar Inc. will post 21.69 EPS for the current fiscal year.

Caterpillar Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st will be given 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 1.38%. Caterpillar’s dividend payout ratio (DPR) is presently 26.15%.

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.