Stonegate Investment Group LLC Has $10.74 Million Position in Caterpillar Inc. $CAT

Stonegate Investment Group LLC raised its stake in shares of Caterpillar Inc. (NYSE:CAT) by 125.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,510 shares of the industrial products company’s stock after purchasing an additional 12,513 shares during the period. Stonegate Investment Group LLC’s holdings in Caterpillar were worth $10,741,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of CAT. Kilter Group LLC bought a new position in Caterpillar in the 2nd quarter worth $27,000. Mid American Wealth Advisory Group Inc. acquired a new stake in shares of Caterpillar in the second quarter valued at about $28,000. Marquette Asset Management LLC increased its stake in shares of Caterpillar by 1,060.0% in the third quarter. Marquette Asset Management LLC now owns 58 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 53 shares during the period. RiverPark Advisors LLC acquired a new position in shares of Caterpillar during the 2nd quarter worth about $32,000. Finally, Joseph Group Capital Management bought a new stake in Caterpillar during the 3rd quarter valued at approximately $32,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on CAT. JPMorgan Chase & Co. lifted their price target on Caterpillar from $730.00 to $740.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 14th. Citigroup raised their price objective on shares of Caterpillar from $690.00 to $710.00 and gave the stock a “buy” rating in a research note on Tuesday, January 13th. Morgan Stanley upped their target price on shares of Caterpillar from $395.00 to $400.00 and gave the company an “underweight” rating in a research note on Friday. Wells Fargo & Company raised their price target on shares of Caterpillar from $675.00 to $702.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Rothschild & Co Redburn boosted their price objective on shares of Caterpillar from $420.00 to $650.00 and gave the stock a “neutral” rating in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $637.70.

Caterpillar Price Performance

NYSE:CAT opened at $636.63 on Tuesday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.86 and a current ratio of 1.38. The company has a 50-day moving average of $596.16 and a 200-day moving average of $513.74. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $655.78. The company has a market capitalization of $297.93 billion, a price-to-earnings ratio of 32.68, a PEG ratio of 2.42 and a beta of 1.57.

Caterpillar (NYSE:CAT) last posted its earnings results on Monday, November 3rd. The industrial products company reported $4.95 earnings per share for the quarter, beating analysts’ consensus estimates of $4.52 by $0.43. The business had revenue of $17.64 billion for the quarter, compared to analysts’ expectations of $16.72 billion. Caterpillar had a net margin of 14.34% and a return on equity of 47.16%. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.17 earnings per share. As a group, equities research analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 19th. Investors of record on Tuesday, January 20th will be given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Tuesday, January 20th. Caterpillar’s dividend payout ratio (DPR) is 31.01%.

Insiders Place Their Bets

In related news, insider Anthony D. Fassino sold 8,184 shares of the business’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $570.18, for a total value of $4,666,353.12. Following the sale, the insider owned 41,512 shares of the company’s stock, valued at $23,669,312.16. The trade was a 16.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Lange Bob De sold 14,638 shares of the stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $562.36, for a total value of $8,231,825.68. Following the transaction, the insider owned 80,209 shares of the company’s stock, valued at $45,106,333.24. This represents a 15.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 54,729 shares of company stock worth $31,084,308 over the last quarter. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.