Swarthmore Group Inc. Buys New Stake in Caterpillar Inc. (NYSE:CAT)


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Swarthmore Group Inc. bought a new stake in shares of Caterpillar Inc. (NYSE:CAT) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 37,826 shares of the industrial products company’s stock, valued at approximately $8,771,000. Caterpillar makes up approximately 2.4% of Swarthmore Group Inc.’s portfolio, making the stock its 18th largest position.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD grew its stake in Caterpillar by 109.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,041,360 shares of the industrial products company’s stock valued at $2,373,788,000 after acquiring an additional 6,803,900 shares in the last quarter. Fisher Asset Management LLC grew its stake in Caterpillar by 3.7% during the first quarter. Fisher Asset Management LLC now owns 6,414,634 shares of the industrial products company’s stock valued at $1,487,361,000 after acquiring an additional 226,607 shares in the last quarter. FMR LLC grew its stake in shares of Caterpillar by 42.3% in the 4th quarter. FMR LLC now owns 6,019,787 shares of the industrial products company’s stock worth $1,095,721,000 after buying an additional 1,788,783 shares in the last quarter. Morgan Stanley grew its stake in shares of Caterpillar by 11.9% in the 4th quarter. Morgan Stanley now owns 4,867,473 shares of the industrial products company’s stock worth $885,977,000 after buying an additional 519,151 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Caterpillar in the 4th quarter worth $878,514,000. 67.48% of the stock is owned by institutional investors.

In related news, insider Denise C. Johnson sold 80,695 shares of Caterpillar stock in a transaction on Monday, March 8th. The shares were sold at an average price of $219.82, for a total value of $17,738,374.90. Following the transaction, the insider now directly owns 38,945 shares in the company, valued at approximately $8,560,889.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Suzette M. Long sold 59,311 shares of Caterpillar stock in a transaction on Monday, March 8th. The shares were sold at an average price of $219.67, for a total transaction of $13,028,847.37. Following the completion of the transaction, the general counsel now owns 33,320 shares in the company, valued at $7,319,404.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 145,062 shares of company stock worth $31,884,447. 0.31% of the stock is currently owned by insiders.

Shares of CAT opened at $228.17 on Tuesday. The company has a current ratio of 1.54, a quick ratio of 1.08 and a debt-to-equity ratio of 1.74. The firm has a market cap of $124.42 billion, a PE ratio of 37.97, a price-to-earnings-growth ratio of 2.14 and a beta of 0.97. The company’s 50 day simple moving average is $229.81 and its 200-day simple moving average is $196.91. Caterpillar Inc. has a 12-month low of $100.22 and a 12-month high of $237.78.

Caterpillar (NYSE:CAT) last announced its earnings results on Thursday, April 29th. The industrial products company reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.93 by $0.94. The business had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11 billion. Caterpillar had a net margin of 7.60% and a return on equity of 25.24%. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period last year, the firm posted $1.60 earnings per share. As a group, equities research analysts forecast that Caterpillar Inc. will post 5.44 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 20th. Investors of record on Monday, April 26th will be given a $1.03 dividend. The ex-dividend date is Friday, April 23rd. This represents a $4.12 dividend on an annualized basis and a yield of 1.81%. Caterpillar’s dividend payout ratio (DPR) is 37.25%.

A number of equities analysts have commented on CAT shares. Wolfe Research started coverage on shares of Caterpillar in a research note on Monday, April 19th. They issued an “outperform” rating and a $265.00 price objective for the company. Stifel Nicolaus lifted their price objective on shares of Caterpillar from $222.00 to $245.00 and gave the stock a “buy” rating in a research note on Monday. JPMorgan Chase & Co. raised their target price on shares of Caterpillar from $205.00 to $237.00 and gave the stock an “overweight” rating in a report on Wednesday, March 3rd. Credit Suisse Group raised their target price on shares of Caterpillar from $228.00 to $235.00 and gave the stock an “outperform” rating in a report on Monday, February 1st. Finally, Citigroup raised their target price on shares of Caterpillar from $205.00 to $245.00 in a report on Tuesday, March 16th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the stock. Caterpillar currently has a consensus rating of “Hold” and a consensus price target of $205.37.

About Caterpillar

Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives worldwide. Its Construction Industries segment offers asphalt pavers, compactors, cold planers, motorgraders, pipelayers, road reclaimers, telehandlers, and utility vehicles; backhoe, compact track, multi-terrain, skid steer, and track-type loaders; forestry and wheel excavators; and site prep and track-type tractors.

See Also: Environmental, Social, and Governance (ESG) Investing

Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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