Essex Financial Services Inc. Has $4.79 Million Holdings in Caterpillar Inc. (NYSE:CAT)

Essex Financial Services Inc. lifted its position in Caterpillar Inc. (NYSE:CAT) by 8.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,212 shares of the industrial products company’s stock after acquiring an additional 1,023 shares during the period. Essex Financial Services Inc.’s holdings in Caterpillar were worth $4,793,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CAT. Nordea Investment Management AB lifted its holdings in shares of Caterpillar by 1.6% in the fourth quarter. Nordea Investment Management AB now owns 635,750 shares of the industrial products company’s stock valued at $231,686,000 after purchasing an additional 10,212 shares in the last quarter. West Wealth Group LLC purchased a new stake in Caterpillar in the 4th quarter worth about $230,000. Citizens Financial Group Inc. RI boosted its position in Caterpillar by 43.0% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 13,902 shares of the industrial products company’s stock worth $5,437,000 after acquiring an additional 4,181 shares during the period. Cadinha & Co. LLC purchased a new position in Caterpillar during the 4th quarter valued at about $11,084,000. Finally, First Affirmative Financial Network purchased a new stake in shares of Caterpillar in the third quarter worth approximately $204,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CAT shares. UBS Group upgraded shares of Caterpillar from a “sell” rating to a “neutral” rating and upped their price objective for the company from $355.00 to $385.00 in a research note on Monday, February 3rd. Evercore ISI raised shares of Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 price target on the stock in a research note on Monday, January 13th. Citigroup lifted their price objective on Caterpillar from $420.00 to $430.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Truist Financial cut their price target on Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Finally, Jefferies Financial Group boosted their price target on Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Caterpillar presently has an average rating of “Hold” and a consensus target price of $383.13.

Caterpillar Stock Down 0.2 %

CAT stock opened at $363.11 on Tuesday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. The company has a 50-day moving average of $376.59 and a two-hundred day moving average of $371.73. The stock has a market capitalization of $175.31 billion, a price-to-earnings ratio of 16.45, a price-to-earnings-growth ratio of 1.94 and a beta of 1.12. Caterpillar Inc. has a 52-week low of $307.05 and a 52-week high of $418.50.

Caterpillar (NYSE:CAT) last released its earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. As a group, equities research analysts anticipate that Caterpillar Inc. will post 20.05 EPS for the current year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st will be issued a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Tuesday, January 21st. Caterpillar’s dividend payout ratio (DPR) is presently 25.56%.

Insiders Place Their Bets

In other Caterpillar news, insider Anthony D. Fassino sold 6,279 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $408.59, for a total value of $2,565,536.61. Following the completion of the sale, the insider now owns 33,565 shares in the company, valued at approximately $13,714,323.35. This trade represents a 15.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gerald Johnson acquired 100 shares of the stock in a transaction dated Wednesday, December 4th. The shares were purchased at an average price of $398.57 per share, for a total transaction of $39,857.00. Following the completion of the transaction, the director now owns 2,953 shares of the company’s stock, valued at $1,176,977.21. This trade represents a 3.51 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.29% of the company’s stock.

Caterpillar Profile

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.