Bank of New York Mellon Corp Acquires 2,717 Shares of Caterpillar Inc. $CAT

Bank of New York Mellon Corp increased its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 0.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,556,647 shares of the industrial products company’s stock after purchasing an additional 2,717 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.76% of Caterpillar worth $2,037,497,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Torren Management LLC purchased a new stake in shares of Caterpillar during the 4th quarter worth approximately $27,000. Frazier Financial Advisors LLC increased its holdings in shares of 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 buying an additional 33 shares during the last quarter. IFS Advisors LLC purchased a new stake in shares of Caterpillar during the 4th quarter valued at about $31,000. Rialto Wealth Management LLC lifted its holdings in shares of Caterpillar by 47.4% in the 4th quarter. Rialto Wealth Management LLC now owns 56 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 18 shares during the last quarter. Finally, Noble Wealth Management PBC grew its position in Caterpillar by 140.0% in the fourth quarter. Noble Wealth Management PBC now owns 60 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 35 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CAT has been the topic of a number of recent research reports. Jefferies Financial Group upped their price objective on Caterpillar from $900.00 to $1,045.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Barclays boosted their target price on Caterpillar from $700.00 to $800.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. Oppenheimer set a $980.00 price target on Caterpillar and gave the company an “outperform” rating in a report on Friday, May 1st. Citigroup lifted 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. Finally, Wall Street Zen raised shares of Caterpillar from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Sixteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Caterpillar presently has an average rating of “Moderate Buy” and a consensus price target of $933.27.

Insider Buying and Selling

In other Caterpillar news, insider Lange Bob De sold 24,222 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $922.92, for a total value of $22,354,968.24. Following the completion of the sale, the insider owned 86,029 shares of the company’s stock, valued at approximately $79,397,884.68. This trade represents a 21.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Andrew R. J. Bonfield sold 15,674 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer directly owned 52,935 shares in the company, valued at approximately $48,631,913.85. This represents a 22.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 98,273 shares of company stock valued at $89,439,960 over the last quarter. Insiders own 0.33% of the company’s stock.

Caterpillar Stock Performance

Shares of Caterpillar stock opened at $910.03 on Wednesday. The company has a current ratio of 1.35, a quick ratio of 0.81 and a debt-to-equity ratio of 1.64. The stock’s fifty day moving average price is $814.65 and its 200-day moving average price is $705.34. The firm has a market cap of $419.15 billion, a P/E ratio of 45.30, a P/E/G ratio of 1.71 and a beta of 1.59. Caterpillar Inc. has a 12 month low of $344.92 and a 12 month high of $931.35.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Thursday, April 30th. The industrial products company reported $5.54 earnings per share for the quarter, topping 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 analysts’ expectations of $16.53 billion. During the same quarter in the prior year, the company earned $4.25 EPS. The company’s revenue was up 22.2% compared to the same quarter last year. On average, equities research analysts expect that Caterpillar Inc. will post 24.67 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 19th. Investors of record on Monday, April 20th were given a dividend of $1.51 per share. The ex-dividend date of this dividend was Monday, April 20th. This represents a $6.04 dividend on an annualized basis and a yield of 0.7%. Caterpillar’s dividend payout ratio is presently 30.06%.

Caterpillar Company 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.