Sandy Cove Advisors LLC Has $575,000 Position in Caterpillar Inc. (NYSE:CAT)

Sandy Cove Advisors LLC raised its stake in shares of Caterpillar Inc. (NYSE:CAT) by 6.9% during the 4th quarter, HoldingsChannel reports. The firm owned 1,585 shares of the industrial products company’s stock after purchasing an additional 102 shares during the quarter. Sandy Cove Advisors LLC’s holdings in Caterpillar were worth $575,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Moss Adams Wealth Advisors LLC increased its holdings in Caterpillar by 9.6% in the 4th quarter. Moss Adams Wealth Advisors LLC now owns 1,208 shares of the industrial products company’s stock valued at $438,000 after buying an additional 106 shares during the period. Astoria Portfolio Advisors LLC. raised its position in shares of Caterpillar by 13.1% during the 4th quarter. Astoria Portfolio Advisors LLC. now owns 3,468 shares of the industrial products company’s stock valued at $1,289,000 after acquiring an additional 402 shares during the last quarter. Kera Capital Partners Inc. acquired a new stake in shares of Caterpillar in the 4th quarter valued at approximately $236,000. Financial Management Professionals Inc. increased its holdings in shares of Caterpillar by 34.4% in the fourth quarter. Financial Management Professionals Inc. now owns 563 shares of the industrial products company’s stock worth $204,000 after acquiring an additional 144 shares in the last quarter. Finally, Jackson Square Capital LLC lifted its position in Caterpillar by 1.9% in the 4th quarter. Jackson Square Capital LLC now owns 16,889 shares of the industrial products company’s stock valued at $6,127,000 after acquiring an additional 308 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Activity

In related news, Director Gerald Johnson acquired 100 shares of the stock in a transaction on Wednesday, December 4th. The shares were acquired at an average price of $398.57 per share, with a total value of $39,857.00. Following the completion of the transaction, the director now owns 2,953 shares in the company, valued at approximately $1,176,977.21. The trade was a 3.51 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO William E. Schaupp sold 968 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $380.98, for a total transaction of $368,788.64. Following the sale, the chief accounting officer now owns 1,686 shares of the company’s stock, valued at approximately $642,332.28. The trade was a 36.47 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,868 shares of company stock worth $13,480,389. Company insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on CAT. Robert W. Baird increased their price objective on Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a report on Thursday, October 31st. Morgan Stanley lowered shares of Caterpillar from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $349.00 to $332.00 in a research report on Monday, October 14th. Jefferies Financial Group raised their target price on shares of Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Bank of America boosted their price target on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Finally, Truist Financial lowered their target price on Caterpillar from $471.00 to $455.00 and set a “buy” rating on the stock in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $380.60.

Caterpillar Stock Performance

Caterpillar stock opened at $386.03 on Friday. The stock has a market cap of $186.38 billion, a PE ratio of 17.90, a P/E/G ratio of 1.72 and a beta of 1.13. 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 business’s 50-day moving average price is $380.09 and its two-hundred day moving average price is $367.03. Caterpillar Inc. has a 12-month low of $277.66 and a 12-month high of $418.50.

Caterpillar (NYSE:CAT) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing the consensus estimate of $5.33 by ($0.16). The company had revenue of $16.11 billion for the quarter, compared to analyst estimates of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.52 earnings per share. As a group, analysts expect that Caterpillar Inc. will post 21.68 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Tuesday, January 21st will be paid a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend is Tuesday, January 21st. Caterpillar’s dividend payout ratio 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.