Bank of Nova Scotia Purchases 192,391 Shares of Caterpillar Inc. (NYSE:CAT)

Bank of Nova Scotia lifted its holdings in shares of Caterpillar Inc. (NYSE:CATFree Report) by 403.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 240,099 shares of the industrial products company’s stock after buying an additional 192,391 shares during the quarter. Bank of Nova Scotia’s holdings in Caterpillar were worth $70,987,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CAT. Norges Bank acquired a new stake in Caterpillar during the 4th quarter worth $1,660,560,000. International Assets Investment Management LLC boosted its position in shares of Caterpillar by 28,603.5% in the 4th quarter. International Assets Investment Management LLC now owns 1,494,018 shares of the industrial products company’s stock worth $4,417,360,000 after purchasing an additional 1,488,813 shares during the last quarter. Capital Wealth Planning LLC grew its stake in shares of Caterpillar by 27,495.2% during the fourth quarter. Capital Wealth Planning LLC now owns 1,182,453 shares of the industrial products company’s stock worth $349,616,000 after purchasing an additional 1,178,168 shares during the period. Winslow Capital Management LLC increased its holdings in Caterpillar by 2,265.3% in the third quarter. Winslow Capital Management LLC now owns 1,117,830 shares of the industrial products company’s stock valued at $305,168,000 after purchasing an additional 1,070,570 shares during the last quarter. Finally, FMR LLC boosted its holdings in Caterpillar by 14.9% during the third quarter. FMR LLC now owns 6,038,207 shares of the industrial products company’s stock worth $1,648,431,000 after buying an additional 781,111 shares during the last quarter. 70.98% of the stock is owned by institutional investors.

Insider Activity

In related news, Director David Maclennan purchased 500 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were acquired at an average price of $337.39 per share, for a total transaction of $168,695.00. Following the purchase, the director now owns 5,738 shares in the company, valued at $1,935,943.82. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Cheryl H. Johnson sold 1,508 shares of Caterpillar stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $340.00, for a total transaction of $512,720.00. Following the completion of the sale, the insider now owns 20,023 shares of the company’s stock, valued at $6,807,820. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David Maclennan purchased 500 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was acquired at an average price of $337.39 per share, for a total transaction of $168,695.00. Following the completion of the purchase, the director now directly owns 5,738 shares of the company’s stock, valued at approximately $1,935,943.82. The disclosure for this purchase can be found here. Insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on CAT. Truist Financial initiated coverage on Caterpillar in a research note on Thursday, March 14th. They issued a “buy” rating and a $390.00 price target for the company. Citigroup lifted their price target on shares of Caterpillar from $255.00 to $340.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. TD Cowen upped their price objective on shares of Caterpillar from $338.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, April 26th. JPMorgan Chase & Co. lifted their target price on Caterpillar from $385.00 to $435.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th. Finally, Wells Fargo & Company increased their price target on Caterpillar from $290.00 to $325.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $323.35.

Check Out Our Latest Analysis on CAT

Caterpillar Stock Down 0.2 %

Shares of Caterpillar stock traded down $0.73 during trading hours on Friday, reaching $338.52. 8,319,505 shares of the company’s stock were exchanged, compared to its average volume of 2,168,015. The company has a current ratio of 1.35, a quick ratio of 0.83 and a debt-to-equity ratio of 1.41. The company has a 50 day moving average of $355.53 and a two-hundred day moving average of $318.53. The stock has a market cap of $165.55 billion, a P/E ratio of 15.28, a P/E/G ratio of 1.74 and a beta of 1.19. Caterpillar Inc. has a fifty-two week low of $205.60 and a fifty-two week high of $382.01.

Caterpillar (NYSE:CATGet Free Report) last posted its quarterly earnings results on Thursday, April 25th. The industrial products company reported $5.60 EPS for the quarter, topping analysts’ consensus estimates of $5.12 by $0.48. The business had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $16.07 billion. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. On average, sell-side analysts forecast that Caterpillar Inc. will post 21.81 EPS for the current fiscal year.

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, April 22nd were issued a $1.30 dividend. The ex-dividend date of this dividend was Friday, April 19th. This represents a $5.20 annualized dividend and a dividend yield of 1.54%. Caterpillar’s dividend payout ratio is currently 23.48%.

About Caterpillar

(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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