abrdn plc Buys 89,447 Shares of Caterpillar Inc. (NYSE:CAT)

abrdn plc grew its holdings in Caterpillar Inc. (NYSE:CATFree Report) by 32.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 368,391 shares of the industrial products company’s stock after buying an additional 89,447 shares during the quarter. abrdn plc’s holdings in Caterpillar were worth $108,922,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CAT. Atlas Capital Advisors LLC increased its stake in shares of Caterpillar by 272.4% in the first quarter. Atlas Capital Advisors LLC now owns 108 shares of the industrial products company’s stock valued at $25,000 after buying an additional 79 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its position in Caterpillar by 730.8% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 108 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 95 shares during the period. Gilfoyle & Co LLC acquired a new stake in Caterpillar in the fourth quarter worth about $30,000. A.P. Gilfoyle & Co. L.P. acquired a new stake in Caterpillar in the fourth quarter worth about $30,000. Finally, First Capital Advisors Group LLC. acquired a new stake in Caterpillar in the second quarter worth about $30,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Anthony D. Fassino sold 4,575 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 23,474 shares of the company’s stock, valued at approximately $7,741,725.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Lange Bob De sold 21,194 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $325.52, for a total value of $6,899,070.88. Following the completion of the sale, the insider now owns 61,092 shares of the company’s stock, valued at approximately $19,886,667.84. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Anthony D. Fassino sold 4,575 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $329.80, for a total value of $1,508,835.00. Following the completion of the sale, the insider now directly owns 23,474 shares of the company’s stock, valued at approximately $7,741,725.20. The disclosure for this sale can be found here. Insiders sold a total of 45,769 shares of company stock valued at $14,509,306 in the last quarter. 0.33% of the stock is currently owned by insiders.

Caterpillar Trading Down 0.6 %

NYSE:CAT opened at $354.66 on Friday. Caterpillar Inc. has a twelve month low of $204.04 and a twelve month high of $382.01. The company has a quick ratio of 0.87, a current ratio of 1.35 and a debt-to-equity ratio of 1.25. The business has a 50 day moving average price of $346.70 and a two-hundred day moving average price of $297.99. The company has a market cap of $177.12 billion, a P/E ratio of 17.61, a price-to-earnings-growth ratio of 1.57 and a beta of 1.17.

Caterpillar (NYSE:CATGet Free Report) last released its quarterly earnings results on Monday, February 5th. The industrial products company reported $5.23 earnings per share for the quarter, topping analysts’ consensus estimates of $4.76 by $0.47. Caterpillar had a return on equity of 56.99% and a net margin of 15.41%. The firm had revenue of $17.07 billion during the quarter, compared to the consensus estimate of $17.06 billion. During the same quarter in the prior year, the firm posted $3.86 EPS. The business’s revenue was up 2.8% on a year-over-year basis. As a group, analysts expect that Caterpillar Inc. will post 21.41 EPS for the current fiscal year.

Caterpillar Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, April 22nd will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend is Friday, April 19th. Caterpillar’s dividend payout ratio (DPR) is currently 25.82%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. StockNews.com lowered Caterpillar from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 20th. Morgan Stanley initiated coverage on Caterpillar in a research report on Monday, January 8th. They issued an “equal weight” rating and a $270.00 price objective for the company. Robert W. Baird boosted their target price on Caterpillar from $210.00 to $257.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 6th. JPMorgan Chase & Co. boosted their target price on Caterpillar from $385.00 to $435.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. Finally, Evercore ISI lowered Caterpillar from an “outperform” rating to an “in-line” rating and boosted their target price for the stock from $321.00 to $338.00 in a research report on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $307.56.

Check Out Our Latest Analysis on Caterpillar

Caterpillar Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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