Oakworth Capital Inc. Raises Position in Caterpillar Inc. (NYSE:CAT)

Oakworth Capital Inc. raised its holdings in Caterpillar Inc. (NYSE:CAT) by 72.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,135 shares of the industrial products company’s stock after buying an additional 900 shares during the quarter. Oakworth Capital Inc.’s holdings in Caterpillar were worth $631,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CAT. Atlas Capital Advisors LLC raised its position in shares of Caterpillar by 272.4% in the 1st quarter. Atlas Capital Advisors LLC now owns 108 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 79 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Caterpillar by 730.8% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 108 shares of the industrial products company’s stock worth $25,000 after buying an additional 95 shares during the last quarter. Gilfoyle & Co LLC acquired a new stake in shares of Caterpillar during the fourth quarter worth $30,000. A.P. Gilfoyle & Co. L.P. purchased a new stake in shares of Caterpillar during the fourth quarter valued at $30,000. Finally, First Capital Advisors Group LLC. purchased a new position in Caterpillar in the 2nd quarter worth $30,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on CAT shares. Evercore ISI lowered Caterpillar from an “outperform” rating to an “in-line” rating and upped their target price for the company from $321.00 to $338.00 in a research report on Tuesday, February 20th. StockNews.com lowered shares of Caterpillar from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 20th. Truist Financial began coverage on Caterpillar in a research note on Thursday, March 14th. They set a “buy” rating and a $390.00 price objective for the company. Wells Fargo & Company raised their target price on Caterpillar from $290.00 to $325.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. Finally, Morgan Stanley assumed coverage on Caterpillar in a report on Monday, January 8th. They issued an “equal weight” rating and a $270.00 price target for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Caterpillar currently has a consensus rating of “Hold” and a consensus price target of $307.56.

Insider Transactions at Caterpillar

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $310.10, for a total value of $3,101,000.00. Following the completion of the sale, the chief financial officer now owns 57,317 shares in the company, valued at approximately $17,774,001.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’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 completion of the transaction, the chief financial officer now directly owns 57,317 shares in the company, valued at approximately $17,774,001.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lange Bob De sold 21,194 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 61,092 shares in the company, valued at $19,886,667.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,769 shares of company stock worth $14,509,306. 0.33% of the stock is currently owned by insiders.

Caterpillar Price Performance

Shares of Caterpillar stock traded down $1.86 during trading hours on Wednesday, reaching $358.02. 1,713,405 shares of the company’s stock were exchanged, compared to its average volume of 2,426,446. The business has a fifty day moving average of $344.54 and a two-hundred day moving average of $296.35. The company has a quick ratio of 0.87, a current ratio of 1.35 and a debt-to-equity ratio of 1.25. The company has a market capitalization of $178.80 billion, a P/E ratio of 17.86, a price-to-earnings-growth ratio of 1.62 and a beta of 1.17. Caterpillar Inc. has a 1 year low of $204.04 and a 1 year high of $382.01.

Caterpillar (NYSE:CAT) last released its earnings results on Monday, February 5th. The industrial products company reported $5.23 earnings per share for the quarter, topping analysts’ consensus estimates of $4.76 by $0.47. The business had revenue of $17.07 billion for the quarter, compared to analyst estimates of $17.06 billion. Caterpillar had a net margin of 15.41% and a return on equity of 56.99%. The business’s revenue was up 2.8% on a year-over-year basis. During the same period last year, the company posted $3.86 EPS. As a group, research analysts predict that Caterpillar Inc. will post 21.33 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, April 22nd will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 1.45%. The ex-dividend date is Friday, April 19th. Caterpillar’s payout ratio is currently 25.82%.

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.