Caterpillar Inc. (NYSE:CAT) Shares Bought by AIA Group Ltd

AIA Group Ltd grew its position in shares of Caterpillar Inc. (NYSE:CAT) by 25.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,837 shares of the industrial products company’s stock after purchasing an additional 6,146 shares during the period. AIA Group Ltd’s holdings in Caterpillar were worth $8,822,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. BCK Partners Inc. acquired a new stake in shares of Caterpillar in the first quarter worth approximately $2,580,000. Sei Investments Co. boosted its position in shares of Caterpillar by 17.3% in the first quarter. Sei Investments Co. now owns 65,643 shares of the industrial products company’s stock worth $14,634,000 after acquiring an additional 9,695 shares during the last quarter. Dakota Wealth Management acquired a new stake in shares of Caterpillar in the first quarter worth approximately $405,000. Mather Group LLC. boosted its position in shares of Caterpillar by 6.8% in the first quarter. Mather Group LLC. now owns 2,592 shares of the industrial products company’s stock worth $577,000 after acquiring an additional 165 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its position in shares of Caterpillar by 4.4% in the first quarter. NewEdge Advisors LLC now owns 49,705 shares of the industrial products company’s stock worth $11,075,000 after acquiring an additional 2,076 shares during the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CAT. Citigroup raised their target price 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 raised their price target on shares of Caterpillar from $300.00 to $338.00 and gave the company an “outperform” rating in a report on Tuesday, February 6th. Sanford C. Bernstein raised their price target on shares of Caterpillar from $216.00 to $245.00 and gave the company a “market perform” rating in a report on Thursday, December 21st. JPMorgan Chase & Co. raised their price target on shares of Caterpillar from $385.00 to $435.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Evercore ISI lowered shares of Caterpillar from an “outperform” rating to an “in-line” rating and raised their price target for the company from $321.00 to $338.00 in a report on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $307.56.

Insiders Place Their Bets

In other news, insider Lange Bob De sold 21,194 shares of the business’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 completion of the transaction, the insider now owns 61,092 shares of the company’s stock, valued at $19,886,667.84. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Anthony D. Fassino sold 4,575 shares of the company’s stock in a transaction dated 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 owns 23,474 shares of the company’s stock, valued at $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 company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $325.52, for a total transaction of $6,899,070.88. Following the completion of the sale, the insider now directly owns 61,092 shares of the company’s stock, valued at approximately $19,886,667.84. 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 over the last 90 days. 0.33% of the stock is owned by company insiders.

Caterpillar Stock Down 0.1 %

Shares of CAT stock traded down $0.23 during mid-day trading on Thursday, reaching $358.09. 1,338,631 shares of the company were exchanged, compared to its average volume of 2,419,892. Caterpillar Inc. has a fifty-two week low of $204.04 and a fifty-two week high of $382.01. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.87 and a current ratio of 1.35. The company has a market capitalization of $178.83 billion, a P/E ratio of 17.79, a P/E/G ratio of 1.60 and a beta of 1.17. The business’s 50 day simple moving average is $345.24 and its 200 day simple moving average is $296.78.

Caterpillar (NYSE:CAT) 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. The business had revenue of $17.07 billion during the quarter, compared to the consensus estimate of $17.06 billion. Caterpillar had a net margin of 15.41% and a return on equity of 56.99%. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the company earned $3.86 earnings per share. Research analysts predict that Caterpillar Inc. will post 21.33 earnings per share for the current year.

Caterpillar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, April 22nd will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Friday, April 19th. Caterpillar’s dividend payout ratio is presently 25.82%.

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.