Delta Asset Management LLC TN Has $18.64 Million Position in Caterpillar Inc. (NYSE:CAT)

Delta Asset Management LLC TN decreased its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 1.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,042 shares of the industrial products company’s stock after selling 1,171 shares during the quarter. Caterpillar accounts for approximately 1.8% of Delta Asset Management LLC TN’s holdings, making the stock its 18th biggest position. Delta Asset Management LLC TN’s holdings in Caterpillar were worth $18,640,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Fisher Asset Management LLC lifted its position in Caterpillar by 2.3% in the 4th quarter. Fisher Asset Management LLC now owns 8,145,840 shares of the industrial products company’s stock worth $2,408,481,000 after buying an additional 179,908 shares in the last quarter. Northern Trust Corp boosted its position in Caterpillar by 1.6% during the third quarter. Northern Trust Corp now owns 6,962,809 shares of the industrial products company’s stock valued at $1,900,847,000 after purchasing an additional 111,384 shares during the last quarter. Morgan Stanley increased its position in Caterpillar by 0.7% in the 3rd quarter. Morgan Stanley now owns 6,830,849 shares of the industrial products company’s stock worth $1,864,823,000 after purchasing an additional 47,258 shares during the last quarter. FMR LLC lifted its holdings in shares of Caterpillar by 14.9% during the 3rd quarter. FMR LLC now owns 6,038,207 shares of the industrial products company’s stock valued at $1,648,431,000 after buying an additional 781,111 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Caterpillar in the 4th quarter valued at approximately $1,660,560,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Price Performance

Shares of CAT stock traded down $3.13 during mid-day trading on Wednesday, reaching $355.94. The company’s stock had a trading volume of 2,103,544 shares, compared to its average volume of 2,470,626. The firm’s 50-day moving average is $356.48 and its two-hundred day moving average is $313.06. The company has a market cap of $174.07 billion, a P/E ratio of 16.12, a PEG ratio of 1.55 and a beta of 1.19. Caterpillar Inc. has a 1-year low of $205.60 and a 1-year high of $382.01. 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 announced its quarterly earnings results on Thursday, April 25th. The industrial products company reported $5.60 EPS for the quarter, topping analysts’ consensus estimates of $5.12 by $0.48. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. The firm had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $16.07 billion. On average, research analysts predict that Caterpillar Inc. will post 21.8 earnings per share for the current year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, April 22nd were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date was Friday, April 19th. Caterpillar’s dividend payout ratio (DPR) is 23.48%.

Insider Buying and Selling at Caterpillar

In other news, Director David Maclennan bought 350 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was acquired at an average price of $323.37 per share, for a total transaction of $113,179.50. Following the transaction, the director now directly owns 5,238 shares of the company’s stock, valued at approximately $1,693,812.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Caterpillar news, insider Lange Bob De sold 21,847 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $356.90, for a total transaction of $7,797,194.30. Following the sale, the insider now owns 71,115 shares of the company’s stock, valued at approximately $25,380,943.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director David Maclennan bought 350 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was bought at an average cost of $323.37 per share, with a total value of $113,179.50. Following the completion of the purchase, the director now owns 5,238 shares of the company’s stock, valued at approximately $1,693,812.06. The disclosure for this purchase can be found here. Company insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Truist Financial began coverage on shares of Caterpillar in a research note on Thursday, March 14th. They issued a “buy” rating and a $390.00 target price for the company. TD Cowen raised their target price on Caterpillar from $338.00 to $340.00 and gave the company a “buy” rating in a report on Friday, April 26th. Stifel Nicolaus lowered Caterpillar from a “buy” rating to a “hold” rating and increased their price objective for the company from $293.00 to $350.00 in a report on Friday, April 26th. Citigroup boosted their target price on Caterpillar from $255.00 to $340.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. Finally, JPMorgan Chase & Co. increased their price target on Caterpillar from $385.00 to $435.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $323.35.

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.