Abbrea Capital LLC Has $5.24 Million Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Abbrea Capital LLC lifted its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 3.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,722 shares of the industrial products company’s stock after buying an additional 565 shares during the period. Abbrea Capital LLC’s holdings in Caterpillar were worth $5,240,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Gilfoyle & Co LLC acquired a new stake in Caterpillar in the 4th quarter valued at about $30,000. Fortitude Family Office LLC bought a new position in Caterpillar in the 4th quarter valued at about $39,000. Authentikos Wealth Advisory LLC bought a new position in Caterpillar in the 3rd quarter valued at about $41,000. Rational Advisors LLC bought a new position in Caterpillar in the 3rd quarter valued at about $42,000. Finally, Milestone Investment Advisors LLC bought a new position in Caterpillar in the 3rd quarter valued at about $44,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Stock Up 1.6 %

CAT stock traded up $5.38 during trading on Friday, reaching $343.38. The stock had a trading volume of 3,293,618 shares, compared to its average volume of 2,496,415. Caterpillar Inc. has a one year low of $204.04 and a one year 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 company’s 50 day moving average is $349.67 and its two-hundred day moving average is $300.30. The company has a market capitalization of $171.48 billion, a price-to-earnings ratio of 17.13, a P/E/G ratio of 1.62 and a beta of 1.17.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Thursday, April 25th. The industrial products company reported $5.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.12 by $0.48. Caterpillar had a net margin of 15.41% and a return on equity of 56.99%. The business had revenue of $15.80 billion during the quarter, compared to the consensus estimate of $16.07 billion. Equities research analysts forecast that Caterpillar Inc. will post 21.3 EPS for the current year.

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Stockholders 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 dividend yield of 1.51%. The ex-dividend date of this dividend is Friday, April 19th. Caterpillar’s dividend payout ratio is currently 25.82%.

Analyst Upgrades and Downgrades

CAT has been the topic of several recent research reports. TD Cowen raised their target price on shares of Caterpillar from $338.00 to $340.00 and gave the stock a “buy” rating in a report on Friday. Evercore ISI cut shares of Caterpillar from an “outperform” rating to an “in-line” rating and raised their target price for the stock from $321.00 to $338.00 in a report on Tuesday, February 20th. Truist Financial started coverage on shares of Caterpillar in a research report on Thursday, March 14th. They set a “buy” rating and a $390.00 price target on the stock. Oppenheimer restated a “market perform” rating on shares of Caterpillar in a research report on Thursday, April 18th. Finally, Robert W. Baird raised their target price on shares of Caterpillar from $210.00 to $257.00 and gave the company an “underperform” rating in a research report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Caterpillar has an average rating of “Hold” and a consensus target price of $310.83.

Insider Activity

In related news, insider Anthony D. Fassino sold 4,575 shares of the firm’s 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 transaction, the insider now directly 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 can be accessed through this link. In other Caterpillar news, 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 sale, the insider now directly owns 23,474 shares in the company, valued at approximately $7,741,725.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lange Bob De sold 21,194 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $325.52, for a total transaction of $6,899,070.88. Following the sale, the insider now owns 61,092 shares in the company, valued at approximately $19,886,667.84. The disclosure for this sale can be found here. Insiders sold 35,769 shares of company stock valued at $11,508,906 in the last three months. Company insiders own 0.33% of the company’s stock.

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.