Norden Group LLC Purchases 515 Shares of Caterpillar Inc. (NYSE:CAT)

Norden Group LLC boosted its position in Caterpillar Inc. (NYSE:CAT) by 11.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,213 shares of the industrial products company’s stock after purchasing an additional 515 shares during the quarter. Norden Group LLC’s holdings in Caterpillar were worth $1,891,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Noble Wealth Management PBC bought a new position in Caterpillar in the fourth quarter worth about $31,000. Retirement Wealth Solutions LLC bought a new position in Caterpillar in the fourth quarter worth about $34,000. Capital Performance Advisors LLP bought a new position in Caterpillar in the third quarter worth about $36,000. Albion Financial Group UT raised its holdings in Caterpillar by 334.8% in the fourth 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 in the last quarter. Finally, Whipplewood Advisors LLC bought a new position in Caterpillar in the fourth quarter worth about $36,000. 70.98% of the stock is currently owned by institutional investors.

Insider Transactions at Caterpillar

In other news, Director Gerald Johnson acquired 100 shares of Caterpillar stock in a transaction that occurred on Wednesday, December 4th. The stock was purchased at an average cost of $398.57 per share, with a total value of $39,857.00. Following the purchase, the director now owns 2,953 shares in the company, valued at $1,176,977.21. This trade represents a 3.51 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jason Kaiser sold 2,425 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total value of $860,147.50. Following the completion of the transaction, the insider now directly owns 6,275 shares of the company’s stock, valued at approximately $2,225,742.50. This represents a 27.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

Caterpillar Trading Up 1.1 %

Shares of NYSE:CAT opened at $343.90 on Friday. Caterpillar Inc. has a 12-month low of $307.05 and a 12-month high of $418.50. The company has a market capitalization of $164.36 billion, a PE ratio of 15.58, a PEG ratio of 1.87 and a beta of 1.12. The business has a 50 day moving average of $365.99 and a two-hundred day moving average of $372.95. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40.

Caterpillar (NYSE:CAT) last announced its quarterly 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, analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Tuesday, January 21st were paid a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a dividend yield of 1.64%. The ex-dividend date was Tuesday, January 21st. Caterpillar’s payout ratio is 25.56%.

Analysts Set New Price Targets

A number of brokerages have commented on CAT. Raymond James upgraded shares of Caterpillar from a “market perform” rating to an “outperform” rating in a report on Monday, February 3rd. Wedbush upgraded Caterpillar to an “outperform” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. dropped their price target on Caterpillar from $515.00 to $490.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Morgan Stanley dropped their price target on Caterpillar from $330.00 to $300.00 and set an “underweight” rating on the stock in a research note on Friday, January 31st. Finally, Truist Financial dropped their price target on Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Caterpillar presently has an average rating of “Hold” and a consensus price target of $383.80.

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.