Alteri Wealth LLC Acquires 862 Shares of Caterpillar Inc. $CAT

Alteri Wealth LLC boosted its stake in Caterpillar Inc. (NYSE:CAT) by 55.6% in the fourth quarter, HoldingsChannel reports. The firm owned 2,413 shares of the industrial products company’s stock after buying an additional 862 shares during the period. Alteri Wealth LLC’s holdings in Caterpillar were worth $1,382,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CAT. Torren Management LLC bought a new stake in Caterpillar during the 4th quarter valued at $27,000. Frazier Financial Advisors LLC raised its stake in shares of Caterpillar by 220.0% in the fourth 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 during the last quarter. IFS Advisors LLC bought a new position in shares of Caterpillar in the fourth quarter valued at approximately $31,000. Rialto Wealth Management LLC lifted its stake in Caterpillar by 47.4% during 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 in the last quarter. Finally, Noble Wealth Management PBC boosted its holdings in Caterpillar by 140.0% during the 4th 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 during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insiders Place Their Bets

In other Caterpillar news, insider Denise C. Johnson sold 12,605 shares of Caterpillar stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $907.91, for a total transaction of $11,444,205.55. Following the completion of the transaction, the insider owned 49,825 shares of the company’s stock, valued at $45,236,615.75. The trade was a 20.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Lange Bob De sold 24,222 shares of the company’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $922.92, for a total value of $22,354,968.24. Following the sale, the insider owned 86,029 shares in the company, valued at approximately $79,397,884.68. This represents a 21.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 95,773 shares of company stock worth $87,642,635 over the last quarter. Insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Oppenheimer set a $980.00 price target on shares of Caterpillar and gave the company an “outperform” rating in a research report on Friday, May 1st. JPMorgan Chase & Co. increased their price objective on shares of Caterpillar from $860.00 to $1,125.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Citigroup lifted their target price on shares of Caterpillar from $905.00 to $1,020.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Jefferies Financial Group upped their target price on Caterpillar from $900.00 to $1,045.00 and gave the company a “buy” rating in a report on Friday, May 1st. Finally, UBS Group reaffirmed a “neutral” rating and set a $900.00 price target on shares of Caterpillar in a research report on Tuesday, June 2nd. Sixteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $933.27.

Caterpillar Stock Up 1.2%

CAT stock opened at $915.27 on Tuesday. The stock has a fifty day moving average of $836.25 and a 200-day moving average of $718.16. Caterpillar Inc. has a fifty-two week low of $353.92 and a fifty-two week high of $946.83. The company has a market capitalization of $421.57 billion, a price-to-earnings ratio of 45.56, a PEG ratio of 1.78 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.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Thursday, April 30th. The industrial products company reported $5.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.65 by $0.89. The business had revenue of $17.42 billion for the quarter, compared to analysts’ expectations of $16.53 billion. Caterpillar had a return on equity of 48.21% and a net margin of 13.33%.The firm’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period in the previous year, the business posted $4.25 EPS. As a group, equities research analysts predict that Caterpillar Inc. will post 24.68 earnings per share for the current year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 19th. Investors of record on Monday, April 20th were issued 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 30.06%.

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.