Mufg Securities Americas Inc. Makes New Investment in Caterpillar Inc. (NYSE:CAT)

Mufg Securities Americas Inc. bought a new position in Caterpillar Inc. (NYSE:CAT) during the fourth quarter, Holdings Channel.com reports. The firm bought 7,128 shares of the industrial products company’s stock, valued at approximately $2,586,000.

Several other institutional investors also recently modified their holdings of the business. EWG Elevate Inc. bought a new stake in shares of Caterpillar during the 4th quarter worth $216,000. Fiduciary Alliance LLC raised its position in Caterpillar by 47.0% in the fourth quarter. Fiduciary Alliance LLC now owns 1,745 shares of the industrial products company’s stock worth $633,000 after acquiring an additional 558 shares during the period. BCS Wealth Management purchased a new position in Caterpillar in the fourth quarter valued at about $760,000. Traveka Wealth LLC grew its position in shares of Caterpillar by 6.2% during the 4th quarter. Traveka Wealth LLC now owns 1,251 shares of the industrial products company’s stock valued at $454,000 after acquiring an additional 73 shares during the period. Finally, PSI Advisors LLC raised its holdings in shares of Caterpillar by 5.8% in the 4th quarter. PSI Advisors LLC now owns 2,473 shares of the industrial products company’s stock worth $897,000 after purchasing an additional 136 shares during the period. 70.98% of the stock is owned by institutional investors.

Analyst Ratings Changes

CAT has been the subject of a number of recent research reports. Wedbush raised Caterpillar to an “outperform” rating in a research report on Monday, February 3rd. Truist Financial restated a “buy” rating and issued a $396.00 price objective (up from $389.00) on shares of Caterpillar in a research note on Thursday, May 1st. Morgan Stanley raised shares of Caterpillar from an “underweight” rating to an “equal weight” rating and lowered their price target for the company from $300.00 to $283.00 in a research report on Wednesday, April 16th. Robert W. Baird upgraded shares of Caterpillar from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $309.00 to $395.00 in a research note on Tuesday. Finally, Evercore ISI increased their target price on Caterpillar from $365.00 to $375.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 19th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Caterpillar has an average rating of “Moderate Buy” and a consensus price target of $377.83.

Insiders Place Their Bets

In related news, Director David Maclennan bought 375 shares of the business’s stock in a transaction that occurred on Wednesday, May 7th. The stock was bought at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the completion of the transaction, the director now owns 6,653 shares of the company’s stock, valued at approximately $2,133,617.10. The trade was a 5.97% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jason Kaiser sold 2,425 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total value of $860,147.50. Following the sale, the insider now owns 6,275 shares in the company, valued at $2,225,742.50. The trade was a 27.87% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

Caterpillar Trading Up 2.9%

Shares of CAT stock opened at $352.58 on Wednesday. The company has a market capitalization of $166.08 billion, a PE ratio of 15.98, a price-to-earnings-growth ratio of 1.87 and a beta of 1.35. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $418.50. The business’s fifty day moving average is $317.07 and its 200 day moving average is $354.64. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42.

Caterpillar (NYSE:CAT) last announced its earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share for the quarter, missing analysts’ consensus estimates of $4.35 by ($0.10). The business had revenue of $14.25 billion during the quarter, compared to the consensus estimate of $14.64 billion. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. Caterpillar’s revenue was down 9.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.60 earnings per share. On average, equities research analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Monday, April 21st will be given a dividend of $1.41 per share. The ex-dividend date is Monday, April 21st. This represents a $5.64 annualized dividend and a yield of 1.60%. Caterpillar’s payout ratio is presently 27.49%.

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.