Chesapeake Wealth Management Acquires 87 Shares of Caterpillar Inc. (NYSE:CAT)

Chesapeake Wealth Management boosted its position in shares of Caterpillar Inc. (NYSE:CAT) by 3.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,567 shares of the industrial products company’s stock after acquiring an additional 87 shares during the period. Chesapeake Wealth Management’s holdings in Caterpillar were worth $931,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Seven Eight Capital LP bought a new position in Caterpillar in the 2nd quarter worth approximately $523,000. Pacer Advisors Inc. raised its position in shares of Caterpillar by 7.7% during the 2nd quarter. Pacer Advisors Inc. now owns 45,106 shares of the industrial products company’s stock valued at $15,025,000 after acquiring an additional 3,211 shares during the last quarter. Sei Investments Co. raised its position in shares of Caterpillar by 3.4% during the 2nd quarter. Sei Investments Co. now owns 118,189 shares of the industrial products company’s stock valued at $39,372,000 after acquiring an additional 3,852 shares during the last quarter. Fairscale Capital LLC bought a new stake in shares of Caterpillar during the 2nd quarter valued at $36,000. Finally, Altshuler Shaham Ltd raised its position in shares of Caterpillar by 3,319.7% during the 2nd quarter. Altshuler Shaham Ltd now owns 275,011 shares of the industrial products company’s stock valued at $91,606,000 after acquiring an additional 266,969 shares during the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on CAT. Evercore ISI upgraded shares of Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 price objective for the company in a research report on Monday, January 13th. Bank of America upped their price objective on shares of Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Truist Financial lowered their price objective on shares of Caterpillar from $471.00 to $455.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Morgan Stanley lowered shares of Caterpillar from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $349.00 to $332.00 in a research note on Monday, October 14th. Finally, StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Friday. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $380.60.

Insider Activity at Caterpillar

In other Caterpillar news, CAO William E. Schaupp sold 968 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $380.98, for a total value of $368,788.64. Following the completion of the transaction, the chief accounting officer now directly owns 1,686 shares in the company, valued at $642,332.28. This represents a 36.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Cheryl H. Johnson sold 2,664 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $378.84, for a total transaction of $1,009,229.76. Following the completion of the transaction, the insider now owns 12,951 shares of the company’s stock, 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. Over the last ninety days, insiders sold 33,868 shares of company stock worth $13,480,389. 0.29% of the stock is owned by company insiders.

Caterpillar Price Performance

Shares of Caterpillar stock opened at $386.03 on Tuesday. The firm has a market cap of $186.38 billion, a PE ratio of 17.90, a price-to-earnings-growth ratio of 1.91 and a beta of 1.13. Caterpillar Inc. has a 12-month low of $277.66 and a 12-month 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. The company’s fifty day simple moving average is $380.09 and its two-hundred day simple moving average is $367.29.

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

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Tuesday, January 21st will be given a dividend of $1.41 per share. The ex-dividend date is Tuesday, January 21st. This represents a $5.64 annualized dividend and a yield of 1.46%. Caterpillar’s dividend payout ratio (DPR) is 26.15%.

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.