Clear Street Group Inc. Purchases New Holdings in Caterpillar Inc. $CAT

Clear Street Group Inc. purchased a new stake in Caterpillar Inc. (NYSE:CAT) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 705 shares of the industrial products company’s stock, valued at approximately $404,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Torren Management LLC purchased a new position in Caterpillar in the 4th quarter worth approximately $27,000. Frazier Financial Advisors LLC lifted its stake in Caterpillar by 220.0% in the 4th quarter. Frazier Financial Advisors LLC now owns 48 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 33 shares in the last quarter. IFS Advisors LLC purchased a new position in Caterpillar in the 4th quarter worth approximately $31,000. Cornerstone Financial Management LLC purchased a new position in Caterpillar in the 4th quarter worth approximately $32,000. Finally, Rialto Wealth Management LLC lifted its stake in Caterpillar by 47.4% in the 4th quarter. Rialto Wealth Management LLC now owns 56 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 18 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CAT shares. HSBC raised their target price on shares of Caterpillar from $850.00 to $1,100.00 in a research note on Tuesday, May 5th. Wells Fargo & Company raised their target price on shares of Caterpillar from $960.00 to $1,050.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Wall Street Zen raised shares of Caterpillar from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Sanford C. Bernstein raised their target price 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, Argus raised their target price on shares of Caterpillar from $820.00 to $990.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $933.27.

Caterpillar Stock Up 2.5%

Caterpillar stock opened at $933.46 on Tuesday. Caterpillar Inc. has a fifty-two week low of $356.96 and a fifty-two week high of $946.83. 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 firm has a 50 day moving average price of $856.17 and a 200 day moving average price of $730.40. The company has a market capitalization of $429.94 billion, a PE ratio of 46.46, a price-to-earnings-growth ratio of 1.80 and a beta of 1.59.

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

Caterpillar Increases Dividend

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

Insiders Place Their Bets

In other Caterpillar news, insider Jason Kaiser sold 5,642 shares of the business’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $883.03, for a total value of $4,982,055.26. Following the completion of the transaction, the insider owned 9,594 shares in the company, valued at $8,471,789.82. The trade was a 37.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Andrew R. J. Bonfield sold 15,674 shares of the business’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $918.71, for a total transaction of $14,399,860.54. Following the completion of the transaction, the chief financial officer owned 52,935 shares of the company’s stock, valued at approximately $48,631,913.85. This trade represents a 22.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 95,773 shares of company stock valued at $87,642,635. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Profile

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.