Desjardins Global Asset Management Inc. Acquires 35 Shares of Caterpillar Inc. (NYSE:CAT)

Desjardins Global Asset Management Inc. grew its stake in Caterpillar Inc. (NYSE:CAT) by 1.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,616 shares of the industrial products company’s stock after acquiring an additional 35 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Caterpillar were worth $774,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. Lodestar Private Asset Management LLC raised its holdings in shares of Caterpillar by 4.4% in the fourth quarter. Lodestar Private Asset Management LLC now owns 830 shares of the industrial products company’s stock valued at $245,000 after acquiring an additional 35 shares in the last quarter. Cornerstone Wealth Management LLC raised its stake in Caterpillar by 1.0% in the fourth quarter. Cornerstone Wealth Management LLC now owns 3,507 shares of the industrial products company’s stock worth $1,037,000 after buying an additional 36 shares in the last quarter. ACT Wealth Management LLC increased its holdings in shares of Caterpillar by 4.3% in the 4th quarter. ACT Wealth Management LLC now owns 877 shares of the industrial products company’s stock valued at $259,000 after acquiring an additional 36 shares during the period. Patriot Financial Group Insurance Agency LLC grew its stake in Caterpillar by 2.0% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 1,893 shares of the industrial products company’s stock valued at $560,000 after purchasing an additional 37 shares during the last quarter. Finally, Elwood & Goetz Wealth Advisory Group LLC lifted its position in shares of Caterpillar by 2.0% during the fourth quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 1,916 shares of the industrial products company’s stock valued at $567,000 after buying an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Trading Down 0.4 %

CAT stock opened at $358.33 on Thursday. The firm has a market cap of $178.95 billion, a P/E ratio of 17.79, a PEG ratio of 1.60 and a beta of 1.17. The company’s 50-day simple moving average is $345.24 and its 200-day simple moving average is $296.78. The company has a quick ratio of 0.87, a current ratio of 1.35 and a debt-to-equity ratio of 1.25. Caterpillar Inc. has a 52-week low of $204.04 and a 52-week high of $382.01.

Caterpillar (NYSE:CAT) last announced its earnings results on Monday, February 5th. The industrial products company reported $5.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.76 by $0.47. The firm had revenue of $17.07 billion for the quarter, compared to analyst estimates of $17.06 billion. Caterpillar had a return on equity of 56.99% and a net margin of 15.41%. The business’s revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the firm posted $3.86 EPS. As a group, equities analysts forecast that Caterpillar Inc. will post 21.33 EPS for the current fiscal year.

Caterpillar Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, April 22nd will be issued 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 dividend yield of 1.45%. Caterpillar’s payout ratio is currently 25.82%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Sanford C. Bernstein raised their target price on shares of Caterpillar from $216.00 to $245.00 and gave the company a “market perform” rating in a research note on Thursday, December 21st. StockNews.com lowered Caterpillar from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 20th. Morgan Stanley began coverage on shares of Caterpillar in a research report on Monday, January 8th. They set an “equal weight” rating and a $270.00 target price on the stock. Citigroup upped their target price on Caterpillar from $255.00 to $340.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. Finally, Evercore ISI lowered Caterpillar from an “outperform” rating to an “in-line” rating and increased their price objective for the company from $321.00 to $338.00 in a report on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $307.56.

Insider Transactions at Caterpillar

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $310.10, for a total value of $3,101,000.00. Following the transaction, the chief financial officer now owns 57,317 shares in the company, valued at approximately $17,774,001.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $310.10, for a total transaction of $3,101,000.00. Following the completion of the sale, the chief financial officer now owns 57,317 shares of the company’s stock, valued at approximately $17,774,001.70. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Lange Bob De sold 21,194 shares of the firm’s 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 completion of the transaction, the insider now directly owns 61,092 shares in the company, valued at $19,886,667.84. The disclosure for this sale can be found here. Insiders have sold 45,769 shares of company stock valued at $14,509,306 over the last ninety days. Insiders own 0.33% of the company’s stock.

Caterpillar 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.