Transcendent Capital Group LLC Grows Stock Position in Caterpillar Inc. (NYSE:CAT)

Transcendent Capital Group LLC boosted its position in Caterpillar Inc. (NYSE:CAT) by 24.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,648 shares of the industrial products company’s stock after buying an additional 324 shares during the period. Transcendent Capital Group LLC’s holdings in Caterpillar were worth $598,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CAT. Capital Performance Advisors LLP acquired a new position in shares of Caterpillar during the third quarter worth about $36,000. Retirement Wealth Solutions LLC acquired a new position in Caterpillar during the 4th quarter worth approximately $34,000. Kimelman & Baird LLC raised its stake in shares of Caterpillar by 42.9% during the 3rd quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock worth $39,000 after buying an additional 30 shares in the last quarter. Albion Financial Group UT lifted its holdings in shares of Caterpillar by 334.8% in the 4th quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock valued at $36,000 after buying an additional 77 shares during the period. Finally, Trivant Custom Portfolio Group LLC boosted its stake in shares of Caterpillar by 130.0% in the fourth quarter. Trivant Custom Portfolio Group LLC now owns 115 shares of the industrial products company’s stock valued at $42,000 after buying an additional 65 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Caterpillar

In related news, insider Anthony D. Fassino sold 6,279 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 33,565 shares in the company, valued at approximately $13,714,323.35. This trade represents a 15.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jason Kaiser sold 2,425 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total transaction of $860,147.50. Following the sale, the insider now owns 6,275 shares of the company’s stock, valued at approximately $2,225,742.50. This represents a 27.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,704 shares of company stock worth $7,226,584 in the last three months. 0.29% of the stock is currently owned by company insiders.

Caterpillar Price Performance

CAT opened at $338.65 on Tuesday. Caterpillar Inc. has a 1 year low of $307.05 and a 1 year high of $418.50. 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 $368.73 and its 200 day simple moving average is $373.05. The stock has a market capitalization of $161.85 billion, a PE ratio of 15.34, a P/E/G ratio of 1.87 and a beta of 1.12.

Caterpillar (NYSE:CAT) last announced 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%. As a group, sell-side analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st were paid a dividend of $1.41 per share. The ex-dividend date was Tuesday, January 21st. This represents a $5.64 annualized dividend and a yield of 1.67%. Caterpillar’s dividend payout ratio is presently 25.56%.

Analysts Set New Price Targets

A number of research firms have commented on CAT. Morgan Stanley reduced their target price on Caterpillar from $330.00 to $300.00 and set an “underweight” rating for the company in a report on Friday, January 31st. JPMorgan Chase & Co. reduced their price objective on shares of Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Evercore ISI upped their target price on shares of Caterpillar from $365.00 to $375.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 19th. Jefferies Financial Group lifted their price target on shares of Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, Truist Financial lowered their price target on Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $383.80.

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.