Goelzer Investment Management Inc. Boosts Holdings in Caterpillar Inc. (NYSE:CAT)

Goelzer Investment Management Inc. increased 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 firm owned 15,639 shares of the industrial products company’s stock after buying an additional 395 shares during the quarter. Goelzer Investment Management Inc.’s holdings in Caterpillar were worth $5,673,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its holdings in Caterpillar by 39.1% in the 2nd quarter. AQR Capital Management LLC now owns 255,605 shares of the industrial products company’s stock valued at $84,976,000 after buying an additional 71,788 shares during the period. Deerfield Management Company L.P. Series C acquired a new stake in shares of Caterpillar during the second quarter valued at about $651,000. MBB Public Markets I LLC raised its stake in shares of Caterpillar by 2,195.1% in the 2nd quarter. MBB Public Markets I LLC now owns 35,368 shares of the industrial products company’s stock valued at $11,781,000 after acquiring an additional 33,827 shares during the period. Mackenzie Financial Corp boosted its position in shares of Caterpillar by 2.6% during the 2nd quarter. Mackenzie Financial Corp now owns 178,960 shares of the industrial products company’s stock worth $59,612,000 after purchasing an additional 4,465 shares during the period. Finally, Legal & General Group Plc increased its holdings in Caterpillar by 2.0% in the 2nd quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company’s stock valued at $1,286,582,000 after purchasing an additional 75,973 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on CAT. Robert W. Baird raised their price target on Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. lifted their target price on Caterpillar from $500.00 to $515.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Truist Financial reduced their price target on shares of Caterpillar from $471.00 to $455.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Citigroup cut their target price on shares of Caterpillar from $460.00 to $420.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Finally, Morgan Stanley cut shares of Caterpillar from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $349.00 to $332.00 in a research report on Monday, October 14th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Caterpillar has a consensus rating of “Hold” and a consensus target price of $380.60.

Insider Buying and Selling

In other Caterpillar news, Director Gerald Johnson purchased 100 shares of the stock in a transaction dated Wednesday, December 4th. The shares were acquired at an average cost of $398.57 per share, for a total transaction of $39,857.00. Following the completion of the transaction, the director now directly owns 2,953 shares of the company’s stock, valued at $1,176,977.21. This trade represents a 3.51 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $380.09, for a total value 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. This represents a 18.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,868 shares of company stock valued at $13,480,389 over the last three months. 0.29% of the stock is currently owned by company insiders.

Caterpillar Price Performance

CAT stock opened at $407.95 on Friday. The stock has a market cap of $196.96 billion, a price-to-earnings ratio of 18.91, a PEG ratio of 1.97 and a beta of 1.13. Caterpillar Inc. has a fifty-two week low of $293.13 and a fifty-two week high of $418.50. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. The business has a 50 day moving average price of $380.59 and a 200 day moving average price of $368.65.

Caterpillar (NYSE:CAT) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.33 by ($0.16). The company had revenue of $16.11 billion during the quarter, compared to analyst estimates of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The company’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.52 EPS. Equities research analysts anticipate that Caterpillar Inc. will post 21.69 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st will be paid a $1.41 dividend. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.38%. Caterpillar’s dividend payout ratio (DPR) is currently 26.15%.

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.