Norinchukin Bank The Has $11.61 Million Stake in Caterpillar Inc. (NYSE:CAT)

Norinchukin Bank The grew its holdings in Caterpillar Inc. (NYSE:CAT) by 3.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 32,006 shares of the industrial products company’s stock after acquiring an additional 1,204 shares during the period. Norinchukin Bank The’s holdings in Caterpillar were worth $11,610,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. FSM Wealth Advisors LLC grew its holdings in Caterpillar by 3.8% in the fourth quarter. FSM Wealth Advisors LLC now owns 688 shares of the industrial products company’s stock worth $262,000 after purchasing an additional 25 shares during the period. Allen Capital Group LLC raised its holdings in shares of Caterpillar by 0.6% during the fourth quarter. Allen Capital Group LLC now owns 4,247 shares of the industrial products company’s stock valued at $1,541,000 after purchasing an additional 26 shares during the period. Wagner Wealth Management LLC grew its stake in shares of Caterpillar by 4.0% in the 4th quarter. Wagner Wealth Management LLC now owns 668 shares of the industrial products company’s stock valued at $242,000 after buying an additional 26 shares during the period. Channel Wealth LLC increased its position in Caterpillar by 1.9% in the 4th quarter. Channel Wealth LLC now owns 1,468 shares of the industrial products company’s stock valued at $533,000 after buying an additional 27 shares in the last quarter. Finally, Total Clarity Wealth Management Inc. raised its stake in Caterpillar by 0.6% during the 4th quarter. Total Clarity Wealth Management Inc. now owns 4,373 shares of the industrial products company’s stock worth $1,586,000 after buying an additional 27 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Trading Up 1.3 %

Shares of CAT stock opened at $293.82 on Friday. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. The firm has a market cap of $140.42 billion, a P/E ratio of 13.31, a PEG ratio of 1.87 and a beta of 1.21. The company has a 50 day moving average of $327.08 and a 200-day moving average of $363.98. Caterpillar Inc. has a 12-month low of $267.30 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 return on equity of 58.18% and a net margin of 16.65%. Sell-side analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Monday, April 21st will be given a dividend of $1.41 per share. The ex-dividend date is Monday, April 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.92%. Caterpillar’s dividend payout ratio is presently 25.56%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CAT shares. Citigroup decreased their price objective on Caterpillar from $430.00 to $320.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Raymond James upgraded shares of Caterpillar from a “market perform” rating to an “outperform” rating in a report on Monday, February 3rd. Bank of America reduced their price objective on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a report on Friday, January 31st. JPMorgan Chase & Co. lowered their target price on shares of Caterpillar from $490.00 to $380.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Finally, Truist Financial cut their price target on Caterpillar from $438.00 to $389.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $361.64.

Insider Activity

In related news, Director Gerald Johnson bought 100 shares of Caterpillar stock in a transaction on Tuesday, February 4th. The stock was acquired at an average price of $365.57 per share, with a total value of $36,557.00. Following the acquisition, the director now directly owns 3,053 shares of the company’s stock, valued at $1,116,085.21. This represents a 3.39 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jason Kaiser sold 2,425 shares of the stock in a transaction dated Tuesday, February 18th. The stock was 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 directly owns 6,275 shares in the company, valued at approximately $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. Insiders own 0.29% of the company’s stock.

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.