AIA Group Ltd Has $8.82 Million Stock Holdings in Caterpillar Inc. (NYSE:CAT)

AIA Group Ltd grew its holdings in Caterpillar Inc. (NYSE:CAT) by 25.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 29,837 shares of the industrial products company’s stock after buying an additional 6,146 shares during the quarter. AIA Group Ltd’s holdings in Caterpillar were worth $8,822,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Investors Asset Management of Georgia Inc. GA ADV increased its stake in shares of Caterpillar by 8.6% in the fourth quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 8,493 shares of the industrial products company’s stock valued at $2,504,000 after buying an additional 675 shares in the last quarter. Federated Hermes Inc. increased its stake in shares of Caterpillar by 4.8% in the fourth quarter. Federated Hermes Inc. now owns 175,426 shares of the industrial products company’s stock valued at $51,868,000 after buying an additional 8,102 shares in the last quarter. Wright Investors Service Inc. increased its stake in shares of Caterpillar by 22.0% in the fourth quarter. Wright Investors Service Inc. now owns 14,135 shares of the industrial products company’s stock valued at $4,179,000 after buying an additional 2,553 shares in the last quarter. Roman Butler Fullerton & Co. increased its stake in shares of Caterpillar by 2.0% in the fourth quarter. Roman Butler Fullerton & Co. now owns 4,206 shares of the industrial products company’s stock valued at $1,259,000 after buying an additional 82 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its position in Caterpillar by 59.2% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 976 shares of the industrial products company’s stock worth $289,000 after purchasing an additional 363 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Wells Fargo & Company lifted their price objective on Caterpillar from $290.00 to $325.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. Truist Financial assumed coverage on Caterpillar in a research report on Thursday, March 14th. They issued a “buy” rating and a $390.00 price objective for the company. Morgan Stanley began coverage on Caterpillar in a research report on Monday, January 8th. They issued an “equal weight” rating and a $270.00 price objective for the company. Evercore ISI cut Caterpillar from an “outperform” rating to an “in-line” rating and raised their target price for the stock from $321.00 to $338.00 in a report on Tuesday, February 20th. Finally, JPMorgan Chase & Co. raised their target price on Caterpillar from $385.00 to $435.00 and gave the stock an “overweight” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $307.56.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Anthony D. Fassino sold 4,575 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 23,474 shares in the company, valued at approximately $7,741,725.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Caterpillar news, insider Anthony D. Fassino sold 4,575 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now owns 23,474 shares of the company’s stock, valued at approximately $7,741,725.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $300.04, for a total value of $3,000,400.00. Following the transaction, the chief financial officer now directly owns 67,317 shares in the company, valued at approximately $20,197,792.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 45,769 shares of company stock worth $14,509,306. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Stock Down 0.1 %

Shares of NYSE:CAT traded down $0.23 during trading on Thursday, hitting $358.09. 1,338,631 shares of the company’s stock traded hands, compared to its average volume of 2,419,892. Caterpillar Inc. has a 52 week low of $204.04 and a 52 week high of $382.01. The company has a current ratio of 1.35, a quick ratio of 0.87 and a debt-to-equity ratio of 1.25. The company has a market cap of $178.83 billion, a price-to-earnings ratio of 17.79, a price-to-earnings-growth ratio of 1.60 and a beta of 1.17. The company has a 50-day moving average price of $345.24 and a 200-day moving average price of $296.78.

Caterpillar (NYSE:CAT) last released its earnings results on Monday, February 5th. The industrial products company reported $5.23 EPS for the quarter, beating 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 return on equity of 56.99% and a net margin of 15.41%. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.86 EPS. As a group, research analysts forecast that Caterpillar Inc. will post 21.33 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, April 22nd will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 1.45%. The ex-dividend date is Friday, April 19th. Caterpillar’s payout ratio is 25.82%.

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.