Hager Investment Management Services LLC Invests $2.10 Million in Caterpillar Inc. (NYSE:CAT)

Hager Investment Management Services LLC acquired a new position in Caterpillar Inc. (NYSE:CAT) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,787 shares of the industrial products company’s stock, valued at approximately $2,099,000. Caterpillar makes up approximately 1.3% of Hager Investment Management Services LLC’s investment portfolio, making the stock its 24th largest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Stratos Wealth Partners LTD. increased its stake in shares of Caterpillar by 3.2% in the fourth quarter. Stratos Wealth Partners LTD. now owns 21,263 shares of the industrial products company’s stock worth $7,714,000 after purchasing an additional 669 shares in the last quarter. Sargent Investment Group LLC increased its stake in shares of Caterpillar by 8.0% in the fourth quarter. Sargent Investment Group LLC now owns 6,512 shares of the industrial products company’s stock worth $2,361,000 after purchasing an additional 483 shares in the last quarter. 1858 Wealth Management LLC increased its stake in shares of Caterpillar by 12.3% in the fourth quarter. 1858 Wealth Management LLC now owns 3,335 shares of the industrial products company’s stock worth $1,210,000 after purchasing an additional 365 shares in the last quarter. Avitas Wealth Management LLC increased its stake in shares of Caterpillar by 0.8% in the fourth quarter. Avitas Wealth Management LLC now owns 9,539 shares of the industrial products company’s stock worth $3,460,000 after purchasing an additional 75 shares in the last quarter. Finally, Welch Group LLC increased its stake in shares of Caterpillar by 1.9% in the fourth quarter. Welch Group LLC now owns 36,814 shares of the industrial products company’s stock worth $13,364,000 after purchasing an additional 703 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Stock Up 0.2 %

NYSE:CAT opened at $362.21 on Wednesday. Caterpillar Inc. has a fifty-two week low of $307.05 and a fifty-two week high of $418.50. The stock has a market capitalization of $174.88 billion, a P/E ratio of 16.41, a P/E/G ratio of 1.95 and a beta of 1.12. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42. The company’s 50-day simple moving average is $380.00 and its 200-day simple moving average is $371.21.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share for the quarter, beating analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. On average, equities analysts anticipate that Caterpillar Inc. will post 21.45 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

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 paid a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Tuesday, January 21st. Caterpillar’s dividend payout ratio (DPR) is presently 25.56%.

Insider Buying and Selling

In other Caterpillar news, insider Lange Bob De sold 12,657 shares of Caterpillar stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the completion of the sale, the insider now directly owns 71,107 shares in the company, valued at approximately $29,171,646.75. The trade was a 15.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the sale, the chief financial officer now owns 45,182 shares of the company’s stock, valued at approximately $17,173,226.38. The trade was a 18.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,936 shares of company stock worth $11,558,971 in the last three months. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. UBS Group upgraded shares of Caterpillar from a “sell” rating to a “neutral” rating and upped their target price for the stock from $355.00 to $385.00 in a research report on Monday. Truist Financial dropped their target price on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a research report on Monday. Morgan Stanley dropped their target price on shares of Caterpillar from $330.00 to $300.00 and set an “underweight” rating for the company in a research report on Friday, January 31st. Robert W. Baird upped their target price on shares of Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research report on Thursday, October 31st. Finally, Bank of America lowered their price objective on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $379.50.

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.