McLean Asset Management Corp Increases Stake in Caterpillar Inc. (NYSE:CAT)

McLean Asset Management Corp raised its position in Caterpillar Inc. (NYSE:CAT) by 8.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 801 shares of the industrial products company’s stock after purchasing an additional 65 shares during the period. McLean Asset Management Corp’s holdings in Caterpillar were worth $290,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital Performance Advisors LLP acquired a new stake in shares of Caterpillar in the 3rd quarter worth $36,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Caterpillar during the 4th quarter worth about $34,000. Kimelman & Baird LLC increased its position in shares of Caterpillar by 42.9% during the 3rd quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 30 shares during the last quarter. Albion Financial Group UT increased its position in shares of Caterpillar by 334.8% during the 4th quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 77 shares during the last quarter. Finally, Trivant Custom Portfolio Group LLC increased its position in shares of Caterpillar by 130.0% during the 4th quarter. Trivant Custom Portfolio Group LLC now owns 115 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 65 shares during the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Price Performance

CAT stock opened at $407.95 on Monday. The business has a 50 day moving average price of $381.07 and a 200 day moving average price of $369.50. The stock has a market cap of $196.96 billion, a price-to-earnings ratio of 18.91, a PEG ratio of 1.97 and a beta of 1.13. Caterpillar Inc. has a fifty-two week low of $293.13 and a fifty-two week high of $418.50. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing the consensus estimate of $5.33 by ($0.16). The firm had revenue of $16.11 billion for the quarter, compared to analyst estimates of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The company’s quarterly revenue was down 4.2% on a year-over-year basis. During the same period last year, the firm earned $5.52 EPS. Equities research analysts anticipate that Caterpillar Inc. will post 21.69 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders 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 dividend yield of 1.38%. The ex-dividend date of this dividend is Tuesday, January 21st. Caterpillar’s payout ratio is currently 26.15%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CAT shares. Robert W. Baird lifted their target price on Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research report on Thursday, October 31st. Bank of America lifted their target price on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research report on Monday, September 30th. UBS Group lifted their target price on Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. lifted their target price on Caterpillar from $500.00 to $515.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Finally, Citigroup dropped their target price on Caterpillar from $460.00 to $420.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Caterpillar presently has an average rating of “Hold” and a consensus price target of $380.60.

Insider Buying and Selling

In other Caterpillar news, CAO William E. Schaupp sold 968 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $380.98, for a total transaction of $368,788.64. Following the sale, the chief accounting officer now directly owns 1,686 shares in the company, valued at approximately $642,332.28. The trade was a 36.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Cheryl H. Johnson sold 2,664 shares of the business’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $378.84, for a total value of $1,009,229.76. Following the sale, the insider now owns 12,951 shares in the company, valued at approximately $4,906,356.84. The trade was a 17.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,868 shares of company stock valued at $13,480,389 over the last quarter. 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.