PCG Asset Management LLC Acquires New Position in Caterpillar Inc. (NYSE:CAT)

PCG Asset Management LLC bought a new position in shares of Caterpillar Inc. (NYSE:CAT) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 840 shares of the industrial products company’s stock, valued at approximately $305,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CAT. Noble Wealth Management PBC acquired a new stake in shares of Caterpillar during the fourth quarter worth $31,000. Retirement Wealth Solutions LLC acquired a new position in shares of Caterpillar during the 4th quarter worth about $34,000. Capital Performance Advisors LLP bought a new stake in shares of Caterpillar in the 3rd quarter valued at about $36,000. Albion Financial Group UT raised its position in shares of Caterpillar by 334.8% in the 4th quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 77 shares during the period. Finally, Whipplewood Advisors LLC bought a new position in Caterpillar during the 4th quarter worth approximately $36,000. Institutional investors own 70.98% of the company’s stock.

Insider Activity at Caterpillar

In other Caterpillar news, insider Jason Kaiser sold 2,425 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total value of $860,147.50. Following the transaction, the insider now directly owns 6,275 shares of the company’s stock, valued at $2,225,742.50. This represents a 27.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gerald Johnson acquired 100 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were bought 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 directly owns 2,953 shares of the company’s stock, valued at approximately $1,176,977.21. The trade was a 3.51 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.29% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have commented on CAT. Jefferies Financial Group upped their target price on shares of Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Morgan Stanley lowered their price objective on shares of Caterpillar from $330.00 to $300.00 and set an “underweight” rating for the company in a research report on Friday, January 31st. UBS Group raised Caterpillar from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $355.00 to $385.00 in a research note on Monday, February 3rd. StockNews.com cut Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, Wedbush raised Caterpillar to an “outperform” rating in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Caterpillar presently has an average rating of “Hold” and an average price target of $383.80.

Caterpillar Price Performance

NYSE:CAT opened at $343.90 on Friday. The stock has a market capitalization of $164.36 billion, a PE ratio of 15.58, a P/E/G ratio of 1.87 and a beta of 1.12. Caterpillar Inc. has a 1-year low of $307.05 and a 1-year high of $418.50. The firm has a fifty day simple moving average of $365.99 and a 200 day simple moving average of $372.95. 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 released its quarterly earnings data on Thursday, January 30th. The industrial products company reported $5.14 earnings per share for the quarter, topping the consensus estimate of $4.97 by $0.17. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. On average, research analysts expect that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Tuesday, January 21st were issued a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend was Tuesday, January 21st. Caterpillar’s payout ratio is presently 25.56%.

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.