Financial Advisors Network Inc. Acquires Shares of 889 Caterpillar Inc. (NYSE:CAT)

Financial Advisors Network Inc. purchased a new position in shares of Caterpillar Inc. (NYSE:CAT) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 889 shares of the industrial products company’s stock, valued at approximately $263,000.

Other large investors also recently modified their holdings of the company. WealthPlan Investment Management LLC raised its stake in shares of Caterpillar by 25,408.0% during the third quarter. WealthPlan Investment Management LLC now owns 6,377 shares of the industrial products company’s stock valued at $1,741,000 after acquiring an additional 6,352 shares during the last quarter. Main Street Financial Solutions LLC purchased a new stake in shares of Caterpillar during the third quarter valued at approximately $231,000. Syon Capital LLC purchased a new stake in shares of Caterpillar during the third quarter valued at approximately $1,081,000. Regent Peak Wealth Advisors LLC boosted its holdings in Caterpillar by 2.8% in the third quarter. Regent Peak Wealth Advisors LLC now owns 1,561 shares of the industrial products company’s stock worth $426,000 after purchasing an additional 43 shares during the last quarter. Finally, Q3 Asset Management purchased a new stake in Caterpillar in the third quarter worth approximately $261,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CAT shares. Robert W. Baird increased their price target on shares of Caterpillar from $210.00 to $257.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 6th. JPMorgan Chase & Co. lifted their price objective on shares of Caterpillar from $385.00 to $435.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 16th. Oppenheimer reaffirmed a “market perform” rating on shares of Caterpillar in a research note on Thursday, April 18th. Truist Financial began coverage on shares of Caterpillar in a report on Thursday, March 14th. They set a “buy” rating and a $390.00 price objective for the company. Finally, StockNews.com lowered shares of 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, ten have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $323.35.

Insider Transactions at Caterpillar

In other news, Director David Maclennan purchased 350 shares of the stock in a transaction dated 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 completion of the transaction, the director now owns 5,238 shares of the company’s stock, valued at $1,693,812.06. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Anthony D. Fassino sold 4,575 shares of the stock in a transaction that occurred 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 in the company, valued at $7,741,725.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director David Maclennan purchased 350 shares of the stock in a transaction on Friday, February 23rd. The shares were bought at an average price of $323.37 per share, for a total transaction of $113,179.50. Following the acquisition, the director now owns 5,238 shares of the company’s stock, valued at $1,693,812.06. The disclosure for this purchase can be found here. Insiders own 0.33% of the company’s stock.

Caterpillar Price Performance

CAT stock traded down $1.59 during trading on Thursday, hitting $354.35. The stock had a trading volume of 673,619 shares, compared to its average volume of 2,451,690. The company’s 50 day moving average price is $356.77 and its two-hundred day moving average price is $313.36. Caterpillar Inc. has a 1-year low of $205.60 and a 1-year high of $382.01. The stock has a market cap of $173.29 billion, a price-to-earnings ratio of 16.07, a price-to-earnings-growth ratio of 1.84 and a beta of 1.19. 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 posted its quarterly earnings data on Thursday, April 25th. The industrial products company reported $5.60 EPS for the quarter, beating 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 company had revenue of $15.80 billion during the quarter, compared to the consensus estimate of $16.07 billion. On average, sell-side analysts forecast that Caterpillar Inc. will post 21.8 EPS for the current fiscal year.

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Monday, April 22nd were given a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend was Friday, April 19th. Caterpillar’s payout ratio is currently 23.48%.

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.