Golden State Equity Partners Boosts Position in Caterpillar Inc. (NYSE:CAT)

Golden State Equity Partners increased its stake in Caterpillar Inc. (NYSE:CAT) by 19.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,307 shares of the industrial products company’s stock after buying an additional 370 shares during the period. Golden State Equity Partners’ holdings in Caterpillar were worth $682,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CAT. Handelsbanken Fonder AB boosted its holdings in shares of Caterpillar by 8.4% in the 3rd quarter. Handelsbanken Fonder AB now owns 135,422 shares of the industrial products company’s stock valued at $36,970,000 after buying an additional 10,476 shares in the last quarter. Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of Caterpillar by 5.9% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,856 shares of the industrial products company’s stock valued at $507,000 after buying an additional 103 shares in the last quarter. Connecticut Wealth Management LLC bought a new stake in shares of Caterpillar in the 3rd quarter valued at about $393,000. Ballentine Partners LLC boosted its holdings in shares of Caterpillar by 2.9% in the 3rd quarter. Ballentine Partners LLC now owns 5,786 shares of the industrial products company’s stock valued at $1,580,000 after buying an additional 165 shares in the last quarter. Finally, TFG Advisers LLC boosted its holdings in shares of Caterpillar by 6.5% in the 3rd quarter. TFG Advisers LLC now owns 1,660 shares of the industrial products company’s stock valued at $453,000 after buying an additional 101 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Price Performance

CAT traded up $5.38 on Friday, hitting $343.38. 3,324,630 shares of the company’s stock were exchanged, compared to its average volume of 2,414,735. Caterpillar Inc. has a fifty-two week low of $204.04 and a fifty-two week high of $382.01. The company has a current ratio of 1.35, a quick ratio of 0.87 and a debt-to-equity ratio of 1.41. The firm has a 50-day moving average price of $350.10 and a 200-day moving average price of $300.80. The stock has a market cap of $171.48 billion, a price-to-earnings ratio of 15.50, a P/E/G ratio of 1.51 and a beta of 1.17.

Caterpillar (NYSE:CAT) last announced its earnings results on Thursday, April 25th. The industrial products company reported $5.60 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $16.07 billion. As a group, equities analysts anticipate that Caterpillar Inc. will post 21.3 earnings per share for the current year.

Caterpillar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, April 22nd will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Friday, April 19th. This represents a $5.20 annualized dividend and a yield of 1.51%. Caterpillar’s dividend payout ratio (DPR) is presently 23.48%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CAT shares. Morgan Stanley started coverage on shares of Caterpillar in a report on Monday, January 8th. They issued an “equal weight” rating and a $270.00 price target on the stock. Evercore ISI cut shares of Caterpillar from an “outperform” rating to an “in-line” rating and lifted their target price for the stock from $321.00 to $338.00 in a research note on Tuesday, February 20th. Stifel Nicolaus cut shares of Caterpillar from a “buy” rating to a “hold” rating and lifted their target price for the stock from $293.00 to $350.00 in a research note on Friday. Oppenheimer reaffirmed a “market perform” rating on shares of Caterpillar in a report on Thursday, April 18th. Finally, The Goldman Sachs Group lifted their target price on shares of Caterpillar from $357.00 to $408.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Caterpillar currently has a consensus rating of “Hold” and an average price target of $310.83.

Insiders Place Their Bets

In other news, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’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 transaction, 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 is available at this hyperlink. In related news, insider Lange Bob De sold 21,194 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $325.52, for a total value of $6,899,070.88. Following the sale, the insider now directly owns 61,092 shares in the company, valued at approximately $19,886,667.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $310.10, for a total transaction of $3,101,000.00. Following the sale, the chief financial officer now owns 57,317 shares in the company, valued at $17,774,001.70. The disclosure for this sale can be found here. Insiders have sold a total of 35,769 shares of company stock valued at $11,508,906 in the last 90 days. 0.33% of the stock is owned by insiders.

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.