Jericho Financial LLP Takes $4.50 Million Position in Caterpillar Inc. (NYSE:CAT)

Jericho Financial LLP bought a new position in shares of Caterpillar Inc. (NYSE:CAT) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 12,399 shares of the industrial products company’s stock, valued at approximately $4,498,000. Caterpillar makes up approximately 3.3% of Jericho Financial LLP’s investment portfolio, making the stock its 13th biggest position.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Czech National Bank lifted its position in shares of Caterpillar by 6.0% during the third quarter. Czech National Bank now owns 98,778 shares of the industrial products company’s stock worth $38,634,000 after purchasing an additional 5,584 shares in the last quarter. Diversified Trust Co lifted its stake in shares of Caterpillar by 16.5% during the third quarter. Diversified Trust Co now owns 7,486 shares of the industrial products company’s stock valued at $2,928,000 after acquiring an additional 1,059 shares during the period. Miracle Mile Advisors LLC boosted its holdings in Caterpillar by 1.3% in the third quarter. Miracle Mile Advisors LLC now owns 4,491 shares of the industrial products company’s stock valued at $1,757,000 after acquiring an additional 59 shares during the last quarter. Fulton Bank N.A. raised its holdings in Caterpillar by 3.0% during the 3rd quarter. Fulton Bank N.A. now owns 1,761 shares of the industrial products company’s stock worth $689,000 after purchasing an additional 51 shares during the last quarter. Finally, Heartwood Wealth Advisors LLC lifted its position in Caterpillar by 5.4% during the 3rd quarter. Heartwood Wealth Advisors LLC now owns 2,904 shares of the industrial products company’s stock valued at $1,136,000 after purchasing an additional 150 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Caterpillar news, Director Gerald Johnson purchased 100 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were acquired at an average cost of $398.57 per share, for a total transaction of $39,857.00. Following the completion of the purchase, the director now owns 2,953 shares of the company’s stock, valued at approximately $1,176,977.21. The trade was a 3.51 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lange Bob De sold 12,657 shares of Caterpillar stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the completion of the sale, the insider now owns 71,107 shares of the company’s stock, valued at approximately $29,171,646.75. The trade was a 15.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,936 shares of company stock worth $11,558,971 over the last three months. Insiders own 0.29% of the company’s stock.

Caterpillar Stock Performance

Shares of NYSE CAT opened at $362.21 on Wednesday. The stock has a market capitalization of $174.88 billion, a PE ratio of 16.41, a price-to-earnings-growth ratio of 1.95 and a beta of 1.12. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42. Caterpillar Inc. has a 52 week low of $307.05 and a 52 week high of $418.50. The stock has a 50 day moving average price of $380.00 and a 200 day moving average price of $371.21.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.97 by $0.17. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. Analysts predict that Caterpillar Inc. will post 21.45 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Tuesday, January 21st will be issued a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a dividend yield of 1.56%. The ex-dividend date is Tuesday, January 21st. Caterpillar’s payout ratio is 25.56%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Jefferies Financial Group increased their price objective on shares of Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a report on Friday, December 6th. Robert W. Baird raised their target price on Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. lowered their price target on Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Citigroup lifted their price objective on shares of Caterpillar from $420.00 to $430.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Finally, Evercore ISI upgraded shares of Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 target price on the stock in a report on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $379.50.

Caterpillar Company 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.