Bluedoor Private Wealth LLC Buys New Stake in Caterpillar Inc. $CAT

Bluedoor Private Wealth LLC acquired a new position in shares of Caterpillar Inc. (NYSE:CAT) in the 4th quarter, Holdings Channel.com reports. The fund acquired 2,234 shares of the industrial products company’s stock, valued at approximately $1,280,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Juno Financial Group LLC purchased a new stake in shares of Caterpillar during the fourth quarter valued at $877,000. ARK Investment Management LLC boosted its stake in shares of Caterpillar by 11.7% during the third quarter. ARK Investment Management LLC now owns 31,144 shares of the industrial products company’s stock valued at $14,860,000 after purchasing an additional 3,268 shares during the period. Gotham Asset Management LLC boosted its stake in shares of Caterpillar by 19.1% during the third quarter. Gotham Asset Management LLC now owns 116,589 shares of the industrial products company’s stock valued at $55,630,000 after purchasing an additional 18,676 shares during the period. Ticino Wealth purchased a new stake in shares of Caterpillar during the fourth quarter valued at $2,488,000. Finally, SevenBridge Financial Group LLC boosted its stake in shares of Caterpillar by 17.6% during the third quarter. SevenBridge Financial Group LLC now owns 12,321 shares of the industrial products company’s stock valued at $5,879,000 after purchasing an additional 1,840 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Denise C. Johnson sold 12,605 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $907.91, for a total transaction of $11,444,205.55. Following the transaction, the insider owned 49,825 shares in the company, valued at $45,236,615.75. This represents a 20.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Anthony D. Fassino sold 16,283 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $916.80, for a total transaction of $14,928,254.40. Following the transaction, the insider owned 46,041 shares in the company, valued at approximately $42,210,388.80. This trade represents a 26.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 95,773 shares of company stock valued at $87,642,635 in the last three months. 0.33% of the stock is currently owned by insiders.

Caterpillar Stock Performance

Shares of Caterpillar stock opened at $933.46 on Tuesday. The company has a market capitalization of $429.94 billion, a PE ratio of 46.46, a P/E/G ratio of 1.80 and a beta of 1.59. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.81 and a current ratio of 1.35. The company has a 50-day simple moving average of $856.17 and a two-hundred day simple moving average of $730.40. Caterpillar Inc. has a one year low of $356.96 and a one year high of $946.83.

Caterpillar (NYSE:CAT) last announced its earnings results on Thursday, April 30th. The industrial products company reported $5.54 EPS for the quarter, topping analysts’ consensus estimates of $4.65 by $0.89. The business had revenue of $17.42 billion during the quarter, compared to the consensus estimate of $16.53 billion. Caterpillar had a net margin of 13.33% and a return on equity of 48.21%. The firm’s revenue was up 22.2% on a year-over-year basis. During the same period in the previous year, the company posted $4.25 earnings per share. Research analysts expect that Caterpillar Inc. will post 24.62 EPS for the current fiscal year.

Caterpillar Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Monday, July 20th will be issued a $1.63 dividend. This is a boost from Caterpillar’s previous quarterly dividend of $1.51. This represents a $6.52 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Monday, July 20th. Caterpillar’s dividend payout ratio is presently 30.06%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CAT. Robert W. Baird boosted their target price on shares of Caterpillar from $940.00 to $1,165.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. Weiss Ratings reissued a “buy (b-)” rating on shares of Caterpillar in a research note on Friday, May 8th. Williams Trading set a $825.00 price objective on Caterpillar in a report on Tuesday, March 10th. Sanford C. Bernstein upped their price objective on shares of Caterpillar from $769.00 to $879.00 and gave the stock a “market perform” rating in a research note on Friday, May 1st. Finally, Citigroup upped their price objective on shares of Caterpillar from $905.00 to $1,020.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $933.27.

About Caterpillar

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.