Clark Asset Management LLC Purchases New Holdings in Caterpillar Inc. $CAT

Clark Asset Management LLC acquired a new position in shares of Caterpillar Inc. (NYSE:CAT) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,398 shares of the industrial products company’s stock, valued at approximately $667,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Kilter Group LLC bought a new position in Caterpillar in the second quarter valued at about $27,000. Mid American Wealth Advisory Group Inc. bought a new position in shares of Caterpillar in the 2nd quarter valued at about $28,000. Compass Financial Services Inc boosted its stake in shares of Caterpillar by 49.2% in the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 31 shares during the last quarter. Family Legacy Financial Solutions LLC acquired a new stake in shares of Caterpillar during the 2nd quarter worth approximately $32,000. Finally, RiverPark Advisors LLC bought a new stake in shares of Caterpillar during the second quarter worth approximately $32,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Price Performance

Shares of CAT opened at $578.60 on Tuesday. The stock has a 50 day simple moving average of $569.22 and a 200 day simple moving average of $479.88. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $627.50. 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 firm has a market capitalization of $270.77 billion, a PE ratio of 29.70, a P/E/G ratio of 2.74 and a beta of 1.57.

Caterpillar (NYSE:CAT) last announced its earnings results on Monday, November 3rd. The industrial products company reported $4.95 EPS for the quarter, topping the consensus estimate of $4.52 by $0.43. The firm had revenue of $17.64 billion for the quarter, compared to the consensus estimate of $16.72 billion. Caterpillar had a net margin of 14.34% and a return on equity of 47.16%. The business’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period last year, the company posted $5.17 EPS. Sell-side analysts predict that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 19th. Investors of record on Tuesday, January 20th will be given a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, January 20th. Caterpillar’s payout ratio is currently 31.01%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CAT shares. Jefferies Financial Group lifted their target price on shares of Caterpillar from $570.00 to $700.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. UBS Group lifted their price objective on Caterpillar from $506.00 to $581.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 4th. Morgan Stanley increased their target price on Caterpillar from $380.00 to $395.00 and gave the company an “underweight” rating in a research note on Wednesday, December 10th. JPMorgan Chase & Co. boosted their target price on Caterpillar from $650.00 to $730.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Finally, Sanford C. Bernstein increased their price target on shares of Caterpillar from $557.00 to $630.00 and gave the company a “market perform” rating in a research report on Friday, December 19th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $616.00.

Insider Transactions at Caterpillar

In related news, insider Lange Bob De sold 14,638 shares of the stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $562.36, for a total transaction of $8,231,825.68. Following the completion of the transaction, the insider directly owned 80,209 shares in the company, valued at approximately $45,106,333.24. This trade represents a 15.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Anthony D. Fassino sold 8,184 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $570.18, for a total value of $4,666,353.12. Following the completion of the sale, the insider owned 41,512 shares in the company, valued at $23,669,312.16. The trade was a 16.47% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 61,895 shares of company stock worth $34,007,516. Company insiders own 0.33% of the company’s stock.

Caterpillar Company 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.