Jennison Associates LLC Has $62.67 Million Stake in Caterpillar Inc. (NYSE:CAT)

Jennison Associates LLC boosted its stake in shares of Caterpillar Inc. (NYSE:CAT) by 108.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 211,953 shares of the industrial products company’s stock after buying an additional 110,108 shares during the quarter. Jennison Associates LLC’s holdings in Caterpillar were worth $62,668,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Telemus Capital LLC lifted its holdings in Caterpillar by 2.2% during the 4th quarter. Telemus Capital LLC now owns 1,801 shares of the industrial products company’s stock worth $533,000 after buying an additional 39 shares during the period. Duality Advisers LP bought a new stake in Caterpillar in the 4th quarter valued at about $1,678,000. Keeler Thomas Management LLC increased its position in Caterpillar by 1.8% in the 4th quarter. Keeler Thomas Management LLC now owns 16,457 shares of the industrial products company’s stock valued at $4,866,000 after buying an additional 297 shares in the last quarter. MCF Advisors LLC increased its position in Caterpillar by 3.5% in the 4th quarter. MCF Advisors LLC now owns 1,724 shares of the industrial products company’s stock valued at $510,000 after buying an additional 59 shares in the last quarter. Finally, Klingenstein Fields & Co. LP increased its position in Caterpillar by 2.4% in the 4th quarter. Klingenstein Fields & Co. LP now owns 2,703 shares of the industrial products company’s stock valued at $799,000 after buying an additional 64 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Caterpillar

In related news, insider Anthony D. Fassino sold 4,575 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $329.80, for a total value of $1,508,835.00. Following the transaction, the insider now owns 23,474 shares of the company’s stock, valued at $7,741,725.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Caterpillar news, insider Lange Bob De sold 21,194 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $325.52, for a total transaction of $6,899,070.88. Following the completion of the sale, the insider now directly owns 61,092 shares in the company, valued at $19,886,667.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Anthony D. Fassino sold 4,575 shares of the company’s 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 owns 23,474 shares of the company’s stock, valued at $7,741,725.20. The disclosure for this sale can be found here. Insiders have sold a total of 45,769 shares of company stock valued at $14,509,306 over the last 90 days. 0.33% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CAT has been the subject of a number of research analyst reports. Truist Financial began coverage on Caterpillar in a research report on Thursday, March 14th. They issued a “buy” rating and a $390.00 target price for the company. StockNews.com downgraded Caterpillar from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 20th. JPMorgan Chase & Co. lifted their price target on Caterpillar from $385.00 to $435.00 and gave the company an “overweight” rating in a research note on Tuesday, April 16th. Morgan Stanley began coverage on Caterpillar in a research note on Monday, January 8th. They set an “equal weight” rating and a $270.00 price target for the company. Finally, Oppenheimer reiterated a “market perform” rating on shares of Caterpillar in a research note on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $307.56.

Caterpillar Trading Up 1.6 %

Caterpillar stock opened at $363.39 on Wednesday. The stock has a market cap of $181.48 billion, a P/E ratio of 18.04, a PEG ratio of 1.59 and a beta of 1.17. Caterpillar Inc. has a fifty-two week low of $204.04 and a fifty-two week high of $382.01. The firm’s fifty day moving average price is $348.44 and its 200-day moving average price is $299.59. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.87 and a current ratio of 1.35.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Monday, February 5th. The industrial products company reported $5.23 earnings per share for the quarter, topping the consensus estimate of $4.76 by $0.47. The firm had revenue of $17.07 billion for the quarter, compared to analysts’ expectations of $17.06 billion. Caterpillar had a net margin of 15.41% and a return on equity of 56.99%. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.86 earnings per share. Equities research analysts forecast that Caterpillar Inc. will post 21.32 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 1.43%. Caterpillar’s dividend payout ratio is presently 25.82%.

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.