NewEdge Wealth LLC Has $376,000 Stake in Caterpillar Inc. (NYSE:CAT)

NewEdge Wealth LLC lowered its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 18.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,272 shares of the industrial products company’s stock after selling 279 shares during the quarter. NewEdge Wealth LLC’s holdings in Caterpillar were worth $376,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. BCK Partners Inc. bought a new stake in Caterpillar in the first quarter valued at about $2,580,000. Sei Investments Co. boosted its holdings in Caterpillar by 17.3% during the first quarter. Sei Investments Co. now owns 65,643 shares of the industrial products company’s stock valued at $14,634,000 after purchasing an additional 9,695 shares in the last quarter. Dakota Wealth Management bought a new stake in shares of Caterpillar in the 1st quarter valued at approximately $405,000. Mather Group LLC. raised its holdings in shares of Caterpillar by 6.8% in the 1st quarter. Mather Group LLC. now owns 2,592 shares of the industrial products company’s stock worth $577,000 after buying an additional 165 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its position in shares of Caterpillar by 4.4% during the 1st quarter. NewEdge Advisors LLC now owns 49,705 shares of the industrial products company’s stock worth $11,075,000 after buying an additional 2,076 shares during the period. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Down 0.4 %

NYSE CAT opened at $358.33 on Thursday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.87 and a current ratio of 1.35. Caterpillar Inc. has a 52 week low of $204.04 and a 52 week high of $382.01. The stock has a market capitalization of $178.95 billion, a P/E ratio of 17.79, a price-to-earnings-growth ratio of 1.62 and a beta of 1.17. The stock has a fifty day moving average of $345.24 and a 200-day moving average of $296.78.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Monday, February 5th. The industrial products company reported $5.23 earnings per share for the quarter, topping the consensus estimate of $4.76 by $0.47. The firm had revenue of $17.07 billion during the quarter, compared to analysts’ expectations of $17.06 billion. Caterpillar had a return on equity of 56.99% and a net margin of 15.41%. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the business posted $3.86 EPS. On average, equities research analysts forecast that Caterpillar Inc. will post 21.33 EPS for the current year.

Caterpillar Dividend Announcement

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

Insiders Place Their Bets

In other news, insider Anthony D. Fassino sold 4,575 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $329.80, for a total value of $1,508,835.00. Following the transaction, the insider now owns 23,474 shares of the company’s stock, valued at approximately $7,741,725.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Anthony D. Fassino sold 4,575 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was 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 directly owns 23,474 shares of the company’s stock, valued at approximately $7,741,725.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Lange Bob De sold 21,194 shares of the company’s stock in a transaction that occurred 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 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. In the last 90 days, insiders sold 45,769 shares of company stock valued at $14,509,306. Company insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. TD Cowen increased their price objective on Caterpillar from $300.00 to $338.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 6th. The Goldman Sachs Group increased their target price on shares of Caterpillar from $357.00 to $408.00 and gave the stock a “buy” rating in a research report on Tuesday. Robert W. Baird boosted their price target 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. Sanford C. Bernstein raised their price objective on shares of Caterpillar from $216.00 to $245.00 and gave the stock a “market perform” rating in a report on Thursday, December 21st. Finally, StockNews.com downgraded Caterpillar from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 20th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Caterpillar currently has an average rating of “Hold” and a consensus price target of $307.56.

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.