TCG Advisory Services LLC Increases Stake in Caterpillar Inc. (NYSE:CAT)

TCG Advisory Services LLC raised its position in shares of Caterpillar Inc. (NYSE:CAT) by 70.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,448 shares of the industrial products company’s stock after acquiring an additional 1,016 shares during the quarter. TCG Advisory Services LLC’s holdings in Caterpillar were worth $724,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Brown Advisory Inc. lifted its position in Caterpillar by 6.0% during the third quarter. Brown Advisory Inc. now owns 72,873 shares of the industrial products company’s stock valued at $19,894,000 after purchasing an additional 4,154 shares during the period. Telemus Capital LLC lifted its holdings in Caterpillar by 5.0% during the third quarter. Telemus Capital LLC now owns 1,762 shares of the industrial products company’s stock valued at $481,000 after purchasing an additional 84 shares in the last quarter. Concord Wealth Partners boosted its position in shares of Caterpillar by 126.9% in the third quarter. Concord Wealth Partners now owns 5,682 shares of the industrial products company’s stock worth $1,551,000 after purchasing an additional 3,178 shares during the period. Everhart Financial Group Inc. raised its holdings in Caterpillar by 14.3% during the third quarter. Everhart Financial Group Inc. now owns 1,712 shares of the industrial products company’s stock valued at $467,000 after acquiring an additional 214 shares during the period. Finally, Hixon Zuercher LLC grew its position in shares of Caterpillar by 20.8% during the third quarter. Hixon Zuercher LLC now owns 24,062 shares of the industrial products company’s stock worth $6,569,000 after purchasing an additional 4,139 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Morgan Stanley initiated coverage on Caterpillar in a report on Monday, January 8th. They set an “equal weight” rating and a $270.00 price target for the company. Wells Fargo & Company upped their price target on shares of Caterpillar from $290.00 to $325.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. Oppenheimer restated a “market perform” rating on shares of Caterpillar in a research report on Thursday, April 18th. TD Cowen boosted their price objective on Caterpillar from $338.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Finally, Evercore ISI downgraded Caterpillar from an “outperform” rating to an “in-line” rating and boosted their target price for the company from $321.00 to $338.00 in a research report on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $323.35.

Insiders Place Their Bets

In other Caterpillar news, insider Lange Bob De sold 21,194 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 61,092 shares in the company, valued at $19,886,667.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Caterpillar news, insider Lange Bob De sold 21,194 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 61,092 shares in the company, valued at $19,886,667.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 owns 23,474 shares in the company, valued at approximately $7,741,725.20. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by company insiders.

Caterpillar Stock Performance

Caterpillar stock traded up $1.31 during midday trading on Friday, hitting $336.75. 1,977,087 shares of the company were exchanged, compared to its average volume of 2,750,444. The firm has a market capitalization of $164.69 billion, a PE ratio of 15.20, a price-to-earnings-growth ratio of 1.44 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. The business has a fifty day simple moving average of $351.89 and a two-hundred day simple moving average of $303.33. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.83 and a current ratio of 1.35.

Caterpillar (NYSE:CAT) last posted its earnings results on Thursday, April 25th. The industrial products company reported $5.60 EPS for the quarter, topping the consensus estimate of $5.12 by $0.48. The firm had revenue of $15.80 billion for the quarter, compared to analyst estimates 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 21.79 earnings per share for the current year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, April 22nd will be given a dividend of $1.30 per share. The ex-dividend date is Friday, April 19th. This represents a $5.20 dividend on an annualized basis and a yield of 1.54%. Caterpillar’s dividend payout ratio is currently 23.48%.

About Caterpillar

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.