Apollon Wealth Management LLC Buys 2,763 Shares of Caterpillar Inc. (NYSE:CAT)

Apollon Wealth Management LLC raised its stake in Caterpillar Inc. (NYSE:CAT) by 12.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 25,604 shares of the industrial products company’s stock after buying an additional 2,763 shares during the period. Apollon Wealth Management LLC’s holdings in Caterpillar were worth $9,288,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in CAT. Geode Capital Management LLC raised its stake in Caterpillar by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 10,213,455 shares of the industrial products company’s stock worth $3,987,206,000 after buying an additional 67,148 shares during the period. Fisher Asset Management LLC lifted its holdings in Caterpillar by 2.3% during the third quarter. Fisher Asset Management LLC now owns 8,952,632 shares of the industrial products company’s stock valued at $3,501,554,000 after purchasing an additional 205,012 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Caterpillar by 1.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,627,513 shares of the industrial products company’s stock valued at $1,418,793,000 after purchasing an additional 64,452 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Caterpillar by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,227,378 shares of the industrial products company’s stock worth $1,262,290,000 after buying an additional 8,088 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its stake in shares of Caterpillar by 39,534.0% in the 3rd quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock valued at $8,356,930,000 after purchasing an additional 2,131,276 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Caterpillar

In related news, Director Gerald Johnson acquired 100 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were acquired at an average price of $365.57 per share, for a total transaction of $36,557.00. Following the completion of the purchase, the director now directly owns 3,053 shares of the company’s stock, valued at $1,116,085.21. The trade was a 3.39 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Anthony D. Fassino sold 6,279 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $408.59, for a total value of $2,565,536.61. Following the transaction, the insider now directly owns 33,565 shares of the company’s stock, valued at approximately $13,714,323.35. The trade was a 15.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by corporate insiders.

Caterpillar Stock Performance

Caterpillar stock opened at $363.84 on Friday. Caterpillar Inc. has a 1-year low of $307.05 and a 1-year high of $418.50. The stock has a market cap of $175.66 billion, a price-to-earnings ratio of 16.49, a price-to-earnings-growth ratio of 1.95 and a beta of 1.12. The firm has a 50 day simple moving average of $377.44 and a 200-day simple moving average of $371.18. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89.

Caterpillar (NYSE:CAT) last posted its earnings results on Thursday, January 30th. The industrial products company reported $5.14 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%. On average, analysts expect that Caterpillar Inc. will post 21.45 EPS for the current year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st will be paid a dividend of $1.41 per share. The ex-dividend date is Tuesday, January 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.55%. Caterpillar’s dividend payout ratio (DPR) is presently 25.56%.

Analyst Ratings Changes

Several brokerages have issued reports on CAT. JPMorgan Chase & Co. decreased their target price on shares of Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Truist Financial decreased their price target on Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. 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 note on Thursday, October 31st. Jefferies Financial Group increased their price objective on shares of Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Bank of America dropped their target price on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $383.13.

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.