Assetmark Inc. Has $3.22 Million Holdings in Caterpillar Inc. (NYSE:CAT)

Posted by Defense World Staff on Aug 8th, 2023

Assetmark Inc. grew its stake in Caterpillar Inc. (NYSE:CAT – Free Report) by 7.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,048 shares of the industrial products company’s stock after acquiring an additional 959 shares during the quarter. Assetmark Inc.’s holdings in Caterpillar were worth $3,215,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CAT. Horan Securities Inc. increased its stake in Caterpillar by 678.6% during the 1st quarter. Horan Securities Inc. now owns 109 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 95 shares in the last quarter. Ridgewood Investments LLC bought a new position in Caterpillar during the first quarter worth $32,000. Mizuho Securities Co. Ltd. boosted its position in shares of Caterpillar by 1,400.0% in the first quarter. Mizuho Securities Co. Ltd. now owns 150 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 140 shares during the period. Richard W. Paul & Associates LLC bought a new stake in shares of Caterpillar in the fourth quarter valued at about $36,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new position in Caterpillar in the fourth quarter valued at about $38,000. 74.28% of the stock is owned by institutional investors.

Caterpillar Trading Up 1.9 %

Shares of Caterpillar stock opened at $281.65 on Tuesday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.33 and a quick ratio of 0.83. The firm has a market cap of $143.68 billion, a PE ratio of 17.53, a P/E/G ratio of 1.21 and a beta of 1.13. Caterpillar Inc. has a 1 year low of $160.60 and a 1 year high of $293.88. The stock has a fifty day moving average price of $246.78 and a 200-day moving average price of $235.77.

Caterpillar (NYSE:CAT – Get Free Report) last issued its earnings results on Tuesday, August 1st. The industrial products company reported $5.55 EPS for the quarter, topping the consensus estimate of $4.57 by $0.98. Caterpillar had a return on equity of 55.93% and a net margin of 12.91%. The business had revenue of $17.30 billion during the quarter, compared to the consensus estimate of $16.46 billion. During the same quarter last year, the company earned $3.18 EPS. The firm’s revenue was up 21.4% compared to the same quarter last year. Equities research analysts anticipate that Caterpillar Inc. will post 19.05 EPS for the current year.

Caterpillar Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 18th. Stockholders of record on Thursday, July 20th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend is Wednesday, July 19th. This is an increase from Caterpillar’s previous quarterly dividend of $1.20. Caterpillar’s dividend payout ratio (DPR) is 32.36%.

Insider Activity

In related news, insider Cheryl H. Johnson sold 6,415 shares of the firm’s stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $260.00, for a total transaction of $1,667,900.00. Following the transaction, the insider now directly owns 16,362 shares of the company’s stock, valued at approximately $4,254,120. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Caterpillar news, insider Cheryl H. Johnson sold 6,415 shares of Caterpillar stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $260.00, for a total value of $1,667,900.00. Following the transaction, the insider now directly owns 16,362 shares of the company’s stock, valued at approximately $4,254,120. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lange Bob De sold 20,000 shares of Caterpillar stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $275.00, for a total value of $5,500,000.00. Following the completion of the transaction, the insider now directly owns 53,671 shares in the company, valued at $14,759,525. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,701 shares of company stock worth $9,246,232. 0.33% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CAT has been the subject of a number of analyst reports. The Goldman Sachs Group boosted their price target on Caterpillar from $274.00 to $315.00 and gave the company a “buy” rating in a research note on Wednesday, August 2nd. StockNews.com downgraded Caterpillar from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 1st. Credit Suisse Group upped their target price on Caterpillar from $279.00 to $334.00 and gave the company an “outperform” rating in a report on Wednesday, August 2nd. Tigress Financial increased their price target on Caterpillar from $266.00 to $282.00 in a report on Wednesday, May 31st. Finally, Bank of America increased their price target on Caterpillar from $283.00 to $323.00 and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $267.00.

View Our Latest Analysis on CAT

Caterpillar Profile

(Free Report)

Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.