Ring Mountain Capital LLC Purchases New Shares in Caterpillar Inc. (NYSE:CAT)

Ring Mountain Capital LLC acquired a new position in Caterpillar Inc. (NYSE:CAT) in the 4th quarter, Holdings Channel reports. The firm acquired 1,003 shares of the industrial products company’s stock, valued at approximately $364,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Halbert Hargrove Global Advisors LLC bought a new stake in Caterpillar during the fourth quarter worth about $27,000. Noble Wealth Management PBC purchased a new stake in Caterpillar during the 4th quarter valued at $31,000. Retirement Wealth Solutions LLC bought a new stake in shares of Caterpillar in the 4th quarter worth $34,000. Capital Performance Advisors LLP bought a new position in shares of Caterpillar during the third quarter valued at $36,000. Finally, Albion Financial Group UT increased its holdings in Caterpillar by 334.8% in the 4th quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock worth $36,000 after buying an additional 77 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CAT shares. JPMorgan Chase & Co. dropped their target price on shares of Caterpillar from $515.00 to $490.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. DA Davidson raised their price objective on shares of Caterpillar from $350.00 to $357.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Wedbush upgraded Caterpillar to an “outperform” rating in a research report on Monday, February 3rd. UBS Group raised shares of Caterpillar from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $355.00 to $385.00 in a research note on Monday, February 3rd. Finally, Citigroup upped their target price on shares of Caterpillar from $420.00 to $430.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. According to MarketBeat, Caterpillar has a consensus rating of “Hold” and a consensus price target of $383.80.

Insiders Place Their Bets

In other Caterpillar news, Director Gerald Johnson purchased 100 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was acquired at an average price of $398.57 per share, for a total transaction of $39,857.00. Following the completion of the purchase, the director now directly owns 2,953 shares in the company, 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 can be accessed through this hyperlink. Also, insider Jason Kaiser sold 2,425 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total transaction of $860,147.50. Following the completion of the sale, the insider now owns 6,275 shares in the company, valued at $2,225,742.50. The trade was a 27.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is owned by insiders.

Caterpillar Stock Down 3.5 %

Caterpillar stock opened at $331.75 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 business has a 50 day simple moving average of $365.31 and a 200-day simple moving average of $373.10. The stock has a market capitalization of $158.55 billion, a PE ratio of 15.03, a price-to-earnings-growth ratio of 1.87 and a beta of 1.12. Caterpillar Inc. has a 12 month low of $307.05 and a 12 month 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, topping analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. On average, analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Tuesday, January 21st were issued a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend was Tuesday, January 21st. Caterpillar’s dividend payout ratio is currently 25.56%.

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.