Sunpointe LLC Boosts Stock Position in Caterpillar Inc. (NYSE:CAT)

Sunpointe LLC raised its position in shares of Caterpillar Inc. (NYSE:CAT) by 489.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,029 shares of the industrial products company’s stock after buying an additional 4,176 shares during the quarter. Sunpointe LLC’s holdings in Caterpillar were worth $1,824,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. FSM Wealth Advisors LLC boosted its holdings in Caterpillar by 3.8% in the 4th quarter. FSM Wealth Advisors LLC now owns 688 shares of the industrial products company’s stock valued at $262,000 after purchasing an additional 25 shares during the last quarter. Allen Capital Group LLC lifted its holdings in Caterpillar by 0.6% in the fourth quarter. Allen Capital Group LLC now owns 4,247 shares of the industrial products company’s stock valued at $1,541,000 after acquiring an additional 26 shares during the last quarter. Wagner Wealth Management LLC grew its position in Caterpillar by 4.0% in the fourth quarter. Wagner Wealth Management LLC now owns 668 shares of the industrial products company’s stock worth $242,000 after acquiring an additional 26 shares during the period. First Bank & Trust increased its stake in Caterpillar by 4.0% during the third quarter. First Bank & Trust now owns 709 shares of the industrial products company’s stock worth $277,000 after acquiring an additional 27 shares during the last quarter. Finally, Washington Trust Bank raised its position in Caterpillar by 1.2% in the third quarter. Washington Trust Bank now owns 2,349 shares of the industrial products company’s stock valued at $919,000 after purchasing an additional 27 shares during the period. 70.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CAT has been the subject of a number of recent analyst reports. Jefferies Financial Group boosted their price objective on shares of Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a report on Friday, December 6th. 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. Morgan Stanley dropped their target price on shares of Caterpillar from $330.00 to $300.00 and set an “underweight” rating for the company in a report on Friday, January 31st. Truist Financial lowered their price target 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, StockNews.com raised Caterpillar from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $383.80.

Caterpillar Trading Down 0.2 %

Shares of NYSE:CAT opened at $353.26 on Thursday. The company has a market cap of $170.55 billion, a PE ratio of 16.01, a P/E/G ratio of 1.88 and a beta of 1.12. The company’s 50 day moving average is $370.89 and its two-hundred day moving average is $372.54. Caterpillar Inc. has a 52 week low of $307.05 and a 52 week high of $418.50. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share for the quarter, beating 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%. Equities analysts predict that Caterpillar Inc. will post 19.98 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently declared 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 is Tuesday, January 21st. This represents a $5.64 annualized dividend and a yield of 1.60%. Caterpillar’s dividend payout ratio is currently 25.56%.

Insiders Place Their Bets

In other news, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the sale, the chief financial officer now owns 45,182 shares in the company, valued at approximately $17,173,226.38. The trade was a 18.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Anthony D. Fassino sold 6,279 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 33,565 shares of the company’s stock, valued at approximately $13,714,323.35. This trade represents a 15.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,704 shares of company stock valued at $7,226,584. 0.29% of the stock is owned by corporate insiders.

Caterpillar 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.