K.J. Harrison & Partners Inc Invests $1.18 Million in Caterpillar Inc. (NYSE:CAT)

K.J. Harrison & Partners Inc bought a new stake in Caterpillar Inc. (NYSE:CAT) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,000 shares of the industrial products company’s stock, valued at approximately $1,183,000.

Several other institutional investors and hedge funds have also bought and sold shares of CAT. Lodestar Private Asset Management LLC boosted its stake in shares of Caterpillar by 4.4% in the fourth quarter. Lodestar Private Asset Management LLC now owns 830 shares of the industrial products company’s stock valued at $245,000 after purchasing an additional 35 shares during the period. Desjardins Global Asset Management Inc. grew its stake in shares of Caterpillar by 1.4% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 2,616 shares of the industrial products company’s stock worth $774,000 after acquiring an additional 35 shares in the last quarter. Cornerstone Wealth Management LLC raised its stake in shares of Caterpillar by 1.0% in the fourth quarter. Cornerstone Wealth Management LLC now owns 3,507 shares of the industrial products company’s stock valued at $1,037,000 after acquiring an additional 36 shares in the last quarter. ACT Wealth Management LLC boosted its holdings in Caterpillar by 4.3% in the fourth quarter. ACT Wealth Management LLC now owns 877 shares of the industrial products company’s stock valued at $259,000 after purchasing an additional 36 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC grew its stake in Caterpillar by 2.0% during 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 purchasing an additional 37 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Caterpillar news, Director David Maclennan purchased 350 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were purchased at an average cost of $323.37 per share, for a total transaction of $113,179.50. Following the completion of the transaction, the director now owns 5,238 shares in the company, valued at $1,693,812.06. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Caterpillar news, insider Anthony D. Fassino sold 4,575 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was 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 in the company, valued at approximately $7,741,725.20. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director David Maclennan bought 350 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was purchased at an average price of $323.37 per share, with a total value of $113,179.50. Following the completion of the acquisition, the director now owns 5,238 shares of the company’s stock, valued at $1,693,812.06. The disclosure for this purchase can be found here. Insiders sold a total of 35,769 shares of company stock worth $11,508,906 over the last 90 days. 0.33% of the stock is currently owned by company insiders.

Caterpillar Stock Performance

CAT stock traded up $5.38 on Friday, reaching $343.38. The company’s stock had a trading volume of 3,324,630 shares, compared to its average volume of 2,414,735. The firm has a fifty day moving average of $350.10 and a two-hundred day moving average of $300.80. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.35 and a quick ratio of 0.87. The company has a market capitalization of $171.48 billion, a P/E ratio of 15.50, a price-to-earnings-growth ratio of 1.51 and a beta of 1.17. Caterpillar Inc. has a 52 week low of $204.04 and a 52 week high of $382.01.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Thursday, April 25th. The industrial products company reported $5.60 earnings per share for the quarter, beating analysts’ consensus estimates of $5.12 by $0.48. The business had revenue of $15.80 billion for the quarter, compared to analysts’ expectations of $16.07 billion. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. As a group, analysts predict that Caterpillar Inc. will post 21.3 EPS for the current fiscal year.

Caterpillar Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, April 22nd will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date is Friday, April 19th. Caterpillar’s payout ratio is currently 23.48%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Citigroup lifted their price objective on Caterpillar from $255.00 to $340.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. Morgan Stanley assumed coverage on shares of Caterpillar in a report on Monday, January 8th. They set an “equal weight” rating and a $270.00 price target for the company. Robert W. Baird raised their price objective on shares of Caterpillar from $210.00 to $257.00 and gave the company an “underperform” rating in a report on Tuesday, February 6th. StockNews.com lowered Caterpillar from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 20th. Finally, Truist Financial started coverage on Caterpillar in a report on Thursday, March 14th. They set a “buy” rating and a $390.00 price target for the company. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Caterpillar presently has an average rating of “Hold” and an average price target of $310.83.

Caterpillar Company 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.