Gateway Advisory LLC Has $5.22 Million Position in Caterpillar Inc. (NYSE:CAT)

Gateway Advisory LLC lowered its stake in Caterpillar Inc. (NYSE:CATFree Report) by 3.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,662 shares of the industrial products company’s stock after selling 583 shares during the quarter. Caterpillar comprises approximately 1.0% of Gateway Advisory LLC’s investment portfolio, making the stock its 24th biggest holding. Gateway Advisory LLC’s holdings in Caterpillar were worth $5,222,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Fisher Asset Management LLC increased its stake 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 valued at $2,408,481,000 after buying an additional 179,908 shares during the last quarter. Northern Trust Corp raised its stake in shares of Caterpillar by 1.6% during the 3rd quarter. Northern Trust Corp now owns 6,962,809 shares of the industrial products company’s stock worth $1,900,847,000 after purchasing an additional 111,384 shares in the last quarter. Morgan Stanley lifted its stake in Caterpillar by 0.7% in the third quarter. Morgan Stanley now owns 6,830,849 shares of the industrial products company’s stock valued at $1,864,823,000 after acquiring an additional 47,258 shares during the last quarter. FMR LLC grew its position in shares of Caterpillar by 14.9% in 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 acquiring an additional 781,111 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Caterpillar by 19.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,264,635 shares of the industrial products company’s stock valued at $947,875,000 after acquiring an additional 529,420 shares during the period. Institutional investors own 70.98% of the company’s stock.

Caterpillar Price Performance

Shares of NYSE:CAT traded up $3.01 during midday trading on Friday, hitting $354.79. The stock had a trading volume of 2,210,787 shares, compared to its average volume of 2,729,460. The company’s 50-day moving average price is $353.59 and its 200-day moving average price is $306.69. The company has a market capitalization of $173.51 billion, a P/E ratio of 16.02, a price-to-earnings-growth ratio of 1.52 and a beta of 1.19. The company has a quick ratio of 0.83, a current ratio of 1.35 and a debt-to-equity ratio of 1.41. Caterpillar Inc. has a fifty-two week low of $205.60 and a fifty-two week high of $382.01.

Caterpillar (NYSE:CATGet Free Report) last issued its earnings results on Thursday, April 25th. The industrial products company reported $5.60 EPS for the quarter, beating the consensus estimate of $5.12 by $0.48. The company had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $16.07 billion. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. As a group, equities research analysts predict that Caterpillar Inc. will post 21.79 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. Stockholders of record on Monday, April 22nd will be 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 is Friday, April 19th. Caterpillar’s payout ratio is presently 23.48%.

Insider Buying and Selling

In related news, insider Anthony D. Fassino sold 4,575 shares of the company’s 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 transaction, the insider now directly owns 23,474 shares in the company, valued at approximately $7,741,725.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Anthony D. Fassino sold 4,575 shares of the company’s 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 transaction, the insider now directly owns 23,474 shares in the company, valued at approximately $7,741,725.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David Maclennan purchased 500 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was acquired at an average price of $337.39 per share, with a total value of $168,695.00. Following the completion of the transaction, the director now owns 5,738 shares in the company, valued at approximately $1,935,943.82. The disclosure for this purchase can be found here. 0.33% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CAT has been the subject of a number of analyst reports. Truist Financial initiated coverage on shares of Caterpillar in a research report on Thursday, March 14th. They issued a “buy” rating and a $390.00 price objective for the company. Robert W. Baird lifted their price objective on shares of Caterpillar from $210.00 to $257.00 and gave the company an “underperform” rating in a research report on Tuesday, February 6th. The Goldman Sachs Group lifted their target price on shares of Caterpillar from $357.00 to $408.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. HSBC lifted their target price on shares of Caterpillar from $330.00 to $360.00 and gave the stock a “hold” rating in a report on Tuesday, April 30th. Finally, Wells Fargo & Company lifted their target price on shares of Caterpillar from $290.00 to $325.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $323.35.

Check Out Our Latest Research Report on CAT

Caterpillar Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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