Chilton Capital Management LLC Purchases 10,774 Shares of Caterpillar Inc. $CAT

Chilton Capital Management LLC raised its position in shares of Caterpillar Inc. (NYSE:CAT) by 345.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,889 shares of the industrial products company’s stock after purchasing an additional 10,774 shares during the period. Chilton Capital Management LLC’s holdings in Caterpillar were worth $6,627,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CAT. Marquette Asset Management LLC boosted its stake in 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 buying an additional 53 shares in the last quarter. Joseph Group Capital Management purchased a new stake in shares of Caterpillar in the 3rd quarter valued at $32,000. Kilter Group LLC bought a new position in shares of Caterpillar during the 2nd quarter valued at $27,000. Mid American Wealth Advisory Group Inc. purchased a new position in Caterpillar in the 2nd quarter worth $28,000. Finally, Sellwood Investment Partners LLC bought a new stake in Caterpillar in the third quarter worth $35,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $575.06, for a total value of $5,750,600.00. Following the sale, the chief financial officer directly owned 45,460 shares of the company’s stock, valued at $26,142,227.60. This represents a 18.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 completion of the transaction, the insider owned 80,209 shares of the company’s stock, valued at approximately $45,106,333.24. This trade represents a 15.43% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 54,729 shares of company stock worth $31,084,308. Company insiders own 0.33% of the company’s stock.

Caterpillar Stock Performance

NYSE:CAT opened at $636.63 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 1.38 and a debt-to-equity ratio of 1.34. The firm’s fifty day simple moving average is $596.16 and its 200 day simple moving average is $513.74. The stock has a market cap of $297.93 billion, a P/E ratio of 32.68, a price-to-earnings-growth ratio of 2.42 and a beta of 1.57. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $655.78.

Caterpillar (NYSE:CAT) last posted 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. Caterpillar had a net margin of 14.34% and a return on equity of 47.16%. The firm had revenue of $17.64 billion during the quarter, compared to analysts’ expectations of $16.72 billion. During the same period last year, the company posted $5.17 EPS. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. As a group, research analysts predict that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 19th. Shareholders 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 yield of 0.9%. The ex-dividend date of this dividend is Tuesday, January 20th. Caterpillar’s payout ratio is presently 31.01%.

Analysts Set New Price Targets

CAT has been the topic of several analyst reports. Oppenheimer lifted their price objective on Caterpillar from $645.00 to $700.00 and gave the stock an “outperform” rating in a report on Tuesday, January 20th. Rothschild & Co Redburn lifted their price target on Caterpillar from $420.00 to $650.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 21st. Hsbc Global Res raised Caterpillar from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. Truist Financial reaffirmed a “buy” rating and issued a $729.00 target price (up from $582.00) on shares of Caterpillar in a research note on Thursday, October 30th. Finally, Argus increased their price target on shares of Caterpillar from $460.00 to $625.00 and gave the company a “buy” rating in a research report on Wednesday, November 19th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $637.70.

About Caterpillar

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.