Carnegie Capital Asset Management LLC Has $892,000 Stock Position in Caterpillar Inc. (NYSE:CAT)

Carnegie Capital Asset Management LLC raised its stake in Caterpillar Inc. (NYSE:CAT) by 1.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,016 shares of the industrial products company’s stock after buying an additional 52 shares during the period. Carnegie Capital Asset Management LLC’s holdings in Caterpillar were worth $892,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CAT. Lodestar Private Asset Management LLC increased its holdings in Caterpillar by 4.4% during the 4th quarter. Lodestar Private Asset Management LLC now owns 830 shares of the industrial products company’s stock worth $245,000 after acquiring an additional 35 shares during the period. Cornerstone Wealth Management LLC grew its stake in Caterpillar by 1.0% in the 4th quarter. Cornerstone Wealth Management LLC now owns 3,507 shares of the industrial products company’s stock worth $1,037,000 after buying an additional 36 shares in the last quarter. ACT Wealth Management LLC grew its stake in Caterpillar by 4.3% in the 4th quarter. ACT Wealth Management LLC now owns 877 shares of the industrial products company’s stock worth $259,000 after buying an additional 36 shares in the last quarter. Patriot Financial Group Insurance Agency LLC grew its stake in Caterpillar by 2.0% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 1,893 shares of the industrial products company’s stock worth $560,000 after buying an additional 37 shares in the last quarter. Finally, Elwood & Goetz Wealth Advisory Group LLC grew its stake in Caterpillar by 2.0% in the 4th quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 1,916 shares of the industrial products company’s stock worth $567,000 after buying an additional 38 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Trading Down 1.2 %

NYSE:CAT opened at $359.65 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 1.35 and a debt-to-equity ratio of 1.25. Caterpillar Inc. has a 52 week low of $204.04 and a 52 week high of $382.01. The firm has a market capitalization of $179.61 billion, a P/E ratio of 17.86, a P/E/G ratio of 1.63 and a beta of 1.17. The company has a fifty day moving average of $344.54 and a 200 day moving average of $296.35.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Monday, February 5th. The industrial products company reported $5.23 EPS for the quarter, topping the consensus estimate of $4.76 by $0.47. Caterpillar had a net margin of 15.41% and a return on equity of 56.99%. The business had revenue of $17.07 billion during the quarter, compared to analyst estimates of $17.06 billion. During the same period in the prior year, the business earned $3.86 EPS. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, research analysts predict that Caterpillar Inc. will post 21.33 earnings per share for the current year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, April 22nd will be paid a $1.30 dividend. The ex-dividend date of this dividend is Friday, April 19th. This represents a $5.20 annualized dividend and a dividend yield of 1.45%. Caterpillar’s payout ratio is 25.82%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. The Goldman Sachs Group boosted their price target on shares of Caterpillar from $357.00 to $408.00 and gave the stock a “buy” rating in a research note on Tuesday. Wells Fargo & Company boosted their price target on shares of Caterpillar from $290.00 to $325.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 6th. Morgan Stanley started coverage on shares of Caterpillar in a research note on Monday, January 8th. They issued an “equal weight” rating and a $270.00 price objective for the company. Evercore ISI cut shares of Caterpillar from an “outperform” rating to an “in-line” rating and upped their price objective for the company from $321.00 to $338.00 in a research note on Tuesday, February 20th. Finally, Robert W. Baird upped their price objective on shares of Caterpillar from $210.00 to $257.00 and gave the company an “underperform” rating in a research note on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Caterpillar currently has an average rating of “Hold” and an average price target of $307.56.

Insider Buying and Selling

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $300.04, for a total value of $3,000,400.00. Following the completion of the transaction, the chief financial officer now directly owns 67,317 shares in the company, valued at approximately $20,197,792.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Anthony D. Fassino sold 4,575 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $329.80, for a total transaction of $1,508,835.00. Following the sale, the insider now directly owns 23,474 shares of the company’s stock, valued at approximately $7,741,725.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $300.04, for a total transaction of $3,000,400.00. Following the sale, the chief financial officer now directly owns 67,317 shares in the company, valued at $20,197,792.68. The disclosure for this sale can be found here. Insiders sold a total of 45,769 shares of company stock worth $14,509,306 in the last three months. 0.33% of the stock is owned by corporate insiders.

About Caterpillar

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.