Caterpillar Inc. (NYSE:CAT) Shares Bought by Delta Investment Management LLC

Delta Investment Management LLC grew its holdings in Caterpillar Inc. (NYSE:CAT) by 12.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 4,269 shares of the industrial products company’s stock after buying an additional 459 shares during the quarter. Delta Investment Management LLC’s holdings in Caterpillar were worth $1,262,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Headlands Technologies LLC lifted its holdings in shares of Caterpillar by 171.6% in the 4th quarter. Headlands Technologies LLC now owns 888 shares of the industrial products company’s stock valued at $263,000 after buying an additional 561 shares during the period. Citizens Financial Group Inc. RI lifted its holdings in shares of Caterpillar by 43.9% in the 4th quarter. Citizens Financial Group Inc. RI now owns 8,199 shares of the industrial products company’s stock valued at $2,424,000 after buying an additional 2,500 shares during the period. Golden State Equity Partners lifted its holdings in shares of Caterpillar by 19.1% in the 4th quarter. Golden State Equity Partners now owns 2,307 shares of the industrial products company’s stock valued at $682,000 after buying an additional 370 shares during the period. Total Investment Management Inc. lifted its holdings in shares of Caterpillar by 2.4% in the 4th quarter. Total Investment Management Inc. now owns 2,175 shares of the industrial products company’s stock valued at $643,000 after buying an additional 51 shares during the period. Finally, Heritage Financial Services LLC lifted its holdings in shares of Caterpillar by 13.3% in the 4th quarter. Heritage Financial Services LLC now owns 850 shares of the industrial products company’s stock valued at $251,000 after buying an additional 100 shares during the period. 70.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CAT shares. Evercore ISI downgraded Caterpillar from an “outperform” rating to an “in-line” rating and raised their price objective for the company from $321.00 to $338.00 in a research note on Tuesday, February 20th. Wells Fargo & Company raised their price objective on Caterpillar from $290.00 to $325.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. Truist Financial started coverage on Caterpillar in a research note on Thursday, March 14th. They issued a “buy” rating and a $390.00 price objective for the company. TD Cowen raised their price objective on Caterpillar from $338.00 to $340.00 and gave the company a “buy” rating in a research note on Friday. Finally, StockNews.com downgraded Caterpillar from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $310.83.

Insider Activity

In other news, Director David Maclennan bought 350 shares of Caterpillar stock in a transaction that occurred on Friday, February 23rd. The shares were purchased at an average price of $323.37 per share, for a total transaction of $113,179.50. Following the completion of the acquisition, the director now owns 5,238 shares of the company’s stock, valued at $1,693,812.06. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Anthony D. Fassino sold 4,575 shares of Caterpillar stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $329.80, for a total value of $1,508,835.00. Following the transaction, the insider now owns 23,474 shares in the company, valued at $7,741,725.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David Maclennan bought 350 shares of Caterpillar stock in a transaction that occurred on Friday, February 23rd. The stock was purchased at an average price of $323.37 per share, for a total transaction of $113,179.50. Following the acquisition, the director now directly owns 5,238 shares of the company’s stock, valued at approximately $1,693,812.06. The disclosure for this purchase can be found here. Insiders sold a total of 35,769 shares of company stock valued at $11,508,906 over the last quarter. Company insiders own 0.33% of the company’s stock.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $343.38 on Friday. The company has a market cap of $171.48 billion, a P/E ratio of 15.50, a P/E/G ratio of 1.53 and a beta of 1.17. The company has a quick ratio of 0.87, a current ratio of 1.35 and a debt-to-equity ratio of 1.41. Caterpillar Inc. has a 52 week low of $204.04 and a 52 week high of $382.01. The business has a fifty day simple moving average of $350.10 and a 200-day simple moving average of $300.99.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Thursday, April 25th. The industrial products company reported $5.60 EPS for the quarter, beating analysts’ consensus estimates of $5.12 by $0.48. The business had revenue of $15.80 billion during the quarter, compared to the consensus estimate of $16.07 billion. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. Equities research analysts forecast that Caterpillar Inc. will post 21.44 EPS for the current year.

Caterpillar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, April 22nd will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend is Friday, April 19th. Caterpillar’s dividend payout ratio is currently 23.48%.

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.