Insight Wealth Strategies LLC Grows Position in Caterpillar Inc. (NYSE:CAT)

Insight Wealth Strategies LLC raised its position in shares of Caterpillar Inc. (NYSE:CAT) by 2.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,412 shares of the industrial products company’s stock after purchasing an additional 163 shares during the quarter. Insight Wealth Strategies LLC’s holdings in Caterpillar were worth $2,326,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Capital Performance Advisors LLP purchased a new position in shares of Caterpillar during the third quarter worth $36,000. Fairscale Capital LLC acquired a new position in shares of Caterpillar in the 2nd quarter valued at about $36,000. Kimelman & Baird LLC grew its holdings in Caterpillar by 42.9% during the third quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 30 shares during the period. SOA Wealth Advisors LLC. raised its position in Caterpillar by 47.2% during the third quarter. SOA Wealth Advisors LLC. now owns 156 shares of the industrial products company’s stock valued at $61,000 after acquiring an additional 50 shares in the last quarter. Finally, HWG Holdings LP purchased a new stake in Caterpillar in the 2nd quarter worth approximately $54,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on CAT. Truist Financial raised their price target on shares of Caterpillar from $454.00 to $471.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Evercore ISI lowered Caterpillar from an “in-line” rating to an “underperform” rating and boosted their price objective for the stock from $321.00 to $365.00 in a research note on Wednesday, November 13th. Robert W. Baird lifted their target price on shares of Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. raised their price target on shares of Caterpillar from $500.00 to $515.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Finally, Citigroup upped their target price on Caterpillar from $435.00 to $460.00 and gave the company a “buy” rating in a report on Monday, December 9th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $384.33.

Caterpillar Trading Down 0.0 %

Shares of CAT traded down $0.18 during midday trading on Monday, hitting $363.61. 904,517 shares of the stock were exchanged, compared to its average volume of 1,349,910. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40. The firm has a market cap of $175.55 billion, a P/E ratio of 16.86, a P/E/G ratio of 1.92 and a beta of 1.13. Caterpillar Inc. has a 52-week low of $276.94 and a 52-week high of $418.50. The stock has a fifty day simple moving average of $384.44 and a 200 day simple moving average of $364.57.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The business had revenue of $16.11 billion for the quarter, compared to analysts’ expectations of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter last year, the company earned $5.52 earnings per share. On average, research analysts anticipate that Caterpillar Inc. will post 21.68 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Tuesday, January 21st will be issued a $1.41 dividend. The ex-dividend date is Tuesday, January 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.55%. Caterpillar’s dividend payout ratio (DPR) is presently 26.15%.

Insiders Place Their Bets

In other news, insider Anthony D. Fassino sold 6,279 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $408.59, for a total value of $2,565,536.61. Following the sale, the insider now directly owns 33,565 shares in the company, valued at approximately $13,714,323.35. This trade represents a 15.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO William E. Schaupp sold 968 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $380.98, for a total value of $368,788.64. Following the completion of the transaction, the chief accounting officer now directly owns 1,686 shares in the company, valued at $642,332.28. This trade represents a 36.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,868 shares of company stock worth $9,679,489 in the last quarter. 0.29% of the stock is owned by company insiders.

Caterpillar 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.