DiNuzzo Private Wealth Inc. Takes Position in Caterpillar Inc. (NYSE:CAT)

DiNuzzo Private Wealth Inc. acquired a new stake in shares of Caterpillar Inc. (NYSE:CAT) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 137 shares of the industrial products company’s stock, valued at approximately $41,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Essex Financial Services Inc. raised its position in Caterpillar by 2.5% in the fourth quarter. Essex Financial Services Inc. now owns 11,441 shares of the industrial products company’s stock worth $3,383,000 after acquiring an additional 278 shares during the period. Triumph Capital Management bought a new stake in Caterpillar in the fourth quarter worth about $256,000. Andina Capital Management LLC bought a new stake in Caterpillar in the fourth quarter worth about $266,000. Victory Capital Management Inc. raised its position in shares of Caterpillar by 139.7% in the fourth quarter. Victory Capital Management Inc. now owns 502,267 shares of the industrial products company’s stock valued at $148,505,000 after purchasing an additional 292,710 shares during the period. Finally, Global Wealth Management Investment Advisory Inc. raised its position in shares of Caterpillar by 3.3% in the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 11,535 shares of the industrial products company’s stock valued at $3,411,000 after purchasing an additional 368 shares during the period. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Trading Down 1.0 %

NYSE:CAT opened at $331.07 on Thursday. The company has a fifty day moving average of $351.36 and a 200 day moving average of $302.43. Caterpillar Inc. has a 52 week low of $205.60 and a 52 week high of $382.01. The company has a quick ratio of 0.83, a current ratio of 1.35 and a debt-to-equity ratio of 1.41. The firm has a market capitalization of $161.91 billion, a P/E ratio of 14.95, a P/E/G ratio of 1.44 and a beta of 1.19.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results 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 analyst estimates of $16.07 billion. On average, research analysts predict that Caterpillar Inc. will post 21.6 earnings per share for the current year.

Caterpillar Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, April 22nd will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Friday, April 19th. This represents a $5.20 dividend on an annualized basis and a yield of 1.57%. Caterpillar’s dividend payout ratio is currently 23.48%.

Analyst Upgrades and Downgrades

CAT has been the topic of several research reports. Citigroup boosted their price target on shares of Caterpillar from $255.00 to $340.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. Truist Financial began coverage on shares of Caterpillar in a report on Thursday, March 14th. They set a “buy” rating and a $390.00 target price on the stock. Evercore ISI lowered shares of Caterpillar from an “outperform” rating to an “in-line” rating and upped their target price for the stock from $321.00 to $338.00 in a report on Tuesday, February 20th. HSBC upped 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. Finally, Stifel Nicolaus lowered shares of Caterpillar from a “buy” rating to a “hold” rating and upped their target price for the stock from $293.00 to $350.00 in a report on Friday, April 26th. One 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, the company has an average rating of “Hold” and a consensus price target of $323.35.

Insider Activity at Caterpillar

In other Caterpillar news, insider Lange Bob De sold 21,194 shares of the company’s stock in a transaction on 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 completion of the transaction, the insider now directly owns 61,092 shares in the company, valued at approximately $19,886,667.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Caterpillar news, insider Lange Bob De sold 21,194 shares of the company’s stock in a transaction on 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 completion of the transaction, the insider now directly owns 61,092 shares in the company, valued at approximately $19,886,667.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Anthony D. Fassino sold 4,575 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was 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 owns 23,474 shares of the company’s stock, valued at $7,741,725.20. The disclosure for this sale can be found here. Insiders sold 35,769 shares of company stock worth $11,508,906 in the last three months. 0.33% of the stock is owned by insiders.

About Caterpillar

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.