Stone Summit Wealth LLC Has $2.45 Million Position in Caterpillar Inc. (NYSE:CAT)

Stone Summit Wealth LLC lifted its holdings in Caterpillar Inc. (NYSE:CAT) by 0.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 6,752 shares of the industrial products company’s stock after purchasing an additional 31 shares during the quarter. Stone Summit Wealth LLC’s holdings in Caterpillar were worth $2,449,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in shares of Caterpillar by 0.7% during the third quarter. Geode Capital Management LLC now owns 10,213,455 shares of the industrial products company’s stock worth $3,987,206,000 after purchasing an additional 67,148 shares in the last quarter. Fisher Asset Management LLC raised its position in Caterpillar by 2.3% in the 3rd quarter. Fisher Asset Management LLC now owns 8,952,632 shares of the industrial products company’s stock worth $3,501,554,000 after purchasing an additional 205,012 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Caterpillar by 1.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,627,513 shares of the industrial products company’s stock valued at $1,418,793,000 after buying an additional 64,452 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Caterpillar by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,227,378 shares of the industrial products company’s stock valued at $1,262,290,000 after buying an additional 8,088 shares during the period. Finally, International Assets Investment Management LLC lifted its stake in shares of Caterpillar by 39,534.0% during the third quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock valued at $8,356,930,000 after acquiring an additional 2,131,276 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on CAT shares. Morgan Stanley dropped their price objective on Caterpillar from $330.00 to $300.00 and set an “underweight” rating for the company in a report on Friday, January 31st. JPMorgan Chase & Co. cut their price objective on shares of Caterpillar from $515.00 to $490.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Robert W. Baird lifted 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. Truist Financial cut their price target on Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Finally, Evercore ISI upgraded 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. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $383.13.

Caterpillar Stock Down 0.4 %

Caterpillar stock opened at $363.84 on Monday. Caterpillar Inc. has a twelve month low of $307.05 and a twelve month high of $418.50. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. The company has a 50 day moving average of $376.59 and a 200-day moving average of $371.48. The stock has a market capitalization of $175.66 billion, a PE ratio of 16.49, a price-to-earnings-growth ratio of 1.94 and a beta of 1.12.

Caterpillar (NYSE:CAT) last released its earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, topping 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%. On average, equities research analysts anticipate that Caterpillar Inc. will post 20.05 EPS for the current fiscal year.

Caterpillar Dividend Announcement

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 dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Tuesday, January 21st. Caterpillar’s dividend payout ratio (DPR) is currently 25.56%.

Insider Activity

In related news, Director Gerald Johnson purchased 100 shares of the stock in a transaction on Wednesday, December 4th. The shares were purchased at an average price of $398.57 per share, with a total value of $39,857.00. Following the transaction, the director now directly owns 2,953 shares of the company’s stock, valued at $1,176,977.21. This trade represents a 3.51 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction that occurred on 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 sale, 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 position. The disclosure for this sale can be found here. 0.29% of the stock is owned by corporate 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.