Citizens Financial Group Inc. RI Has $2.42 Million Position in Caterpillar Inc. (NYSE:CAT)

Citizens Financial Group Inc. RI raised its stake in Caterpillar Inc. (NYSE:CAT) by 43.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 8,199 shares of the industrial products company’s stock after buying an additional 2,500 shares during the period. Citizens Financial Group Inc. RI’s holdings in Caterpillar were worth $2,424,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of CAT. Handelsbanken Fonder AB increased its holdings in shares of Caterpillar by 8.4% in the third quarter. Handelsbanken Fonder AB now owns 135,422 shares of the industrial products company’s stock valued at $36,970,000 after purchasing an additional 10,476 shares during the last quarter. Patriot Financial Group Insurance Agency LLC lifted its position in Caterpillar by 5.9% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 1,856 shares of the industrial products company’s stock worth $507,000 after purchasing an additional 103 shares during the period. Connecticut Wealth Management LLC bought a new stake in Caterpillar during the third quarter worth about $393,000. Ballentine Partners LLC lifted its position in Caterpillar by 2.9% during the third quarter. Ballentine Partners LLC now owns 5,786 shares of the industrial products company’s stock worth $1,580,000 after purchasing an additional 165 shares during the period. Finally, TFG Advisers LLC lifted its position in Caterpillar by 6.5% during the third quarter. TFG Advisers LLC now owns 1,660 shares of the industrial products company’s stock worth $453,000 after purchasing an additional 101 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company upped their price objective on shares of Caterpillar from $290.00 to $325.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. Evercore ISI cut shares of Caterpillar from an “outperform” rating to an “in-line” rating and increased their target price for the stock from $321.00 to $338.00 in a report on Tuesday, February 20th. Morgan Stanley initiated coverage on shares of Caterpillar in a report on Monday, January 8th. They issued an “equal weight” rating and a $270.00 target price for the company. Truist Financial initiated coverage on shares of Caterpillar in a report on Thursday, March 14th. They issued a “buy” rating and a $390.00 target price for the company. Finally, Citigroup increased their target price on shares of Caterpillar from $255.00 to $340.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. 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. According to data from MarketBeat, Caterpillar has an average rating of “Hold” and an average target price of $310.83.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Anthony D. Fassino sold 4,575 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $329.80, for a total transaction of $1,508,835.00. Following the completion of the sale, the insider now owns 23,474 shares of the company’s stock, valued at approximately $7,741,725.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Caterpillar news, insider Lange Bob De sold 21,194 shares of the 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 transaction, the insider now directly owns 61,092 shares in the company, valued at approximately $19,886,667.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 35,769 shares of company stock valued at $11,508,906. 0.33% of the stock is currently owned by company insiders.

Caterpillar Trading Up 1.6 %

Shares of Caterpillar stock traded up $5.38 on Friday, hitting $343.38. The stock had a trading volume of 3,324,630 shares, compared to its average volume of 2,414,735. The stock has a 50 day moving average of $350.10 and a 200 day moving average of $300.80. Caterpillar Inc. has a twelve month low of $204.04 and a twelve month high of $382.01. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.87 and a current ratio of 1.35. The firm has a market capitalization of $171.48 billion, a P/E ratio of 15.50, a PEG ratio of 1.51 and a beta of 1.17.

Caterpillar (NYSE:CAT) last released its earnings results on Thursday, April 25th. The industrial products company reported $5.60 earnings per share for the quarter, beating analysts’ consensus estimates of $5.12 by $0.48. The business had revenue of $15.80 billion during the quarter, compared to the consensus estimate of $16.07 billion. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. Sell-side analysts expect that Caterpillar Inc. will post 21.3 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

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 given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date is Friday, April 19th. Caterpillar’s dividend payout ratio is presently 23.48%.

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.