Graypoint LLC lowered its holdings in Caterpillar Inc. (NYSE:CAT – Free Report) by 0.4% in the fourth quarter, HoldingsChannel reports. The firm owned 10,666 shares of the industrial products company’s stock after selling 42 shares during the quarter. Graypoint LLC’s holdings in Caterpillar were worth $3,869,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Fairscale Capital LLC acquired a new position in Caterpillar during the 2nd quarter worth $36,000. Capital Performance Advisors LLP purchased a new stake in shares of Caterpillar in the 3rd quarter valued at approximately $36,000. Kimelman & Baird LLC raised its holdings in shares of Caterpillar by 42.9% in the 3rd quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 30 shares in the last quarter. HWG Holdings LP purchased a new stake in shares of Caterpillar during the 2nd quarter worth $54,000. Finally, SOA Wealth Advisors LLC. boosted its position in shares of Caterpillar by 47.2% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 156 shares of the industrial products company’s stock worth $61,000 after acquiring an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.
Insider Activity at Caterpillar
In other news, insider Cheryl H. Johnson sold 2,664 shares of Caterpillar stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $378.84, for a total value of $1,009,229.76. Following the transaction, the insider now directly owns 12,951 shares of the company’s stock, valued at $4,906,356.84. The trade was a 17.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Daniel M. Dickinson sold 1,300 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $418.00, for a total transaction of $543,400.00. Following the sale, the director now directly owns 4,976 shares of the company’s stock, valued at approximately $2,079,968. This trade represents a 20.71 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,868 shares of company stock worth $9,679,489. 0.29% of the stock is currently owned by insiders.
Caterpillar Price Performance
Caterpillar (NYSE:CAT – Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The company had revenue of $16.11 billion during the quarter, compared to analyst estimates of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The business’s revenue was down 4.2% compared to the same quarter last year. During the same period last year, the firm earned $5.52 earnings per share. On average, sell-side analysts predict that Caterpillar Inc. will post 21.68 EPS for the current fiscal year.
Caterpillar Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Tuesday, January 21st will be given a dividend of $1.41 per share. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.61%. Caterpillar’s dividend payout ratio (DPR) is currently 26.15%.
Analyst Ratings Changes
Several research analysts have recently issued reports on CAT shares. Robert W. Baird upped their target price on shares of Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a report on Thursday, October 31st. Morgan Stanley lowered Caterpillar from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $349.00 to $332.00 in a report on Monday, October 14th. UBS Group raised their price target on Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a research note on Monday, November 4th. StockNews.com cut Caterpillar from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Truist Financial lifted their target price on shares of Caterpillar from $454.00 to $471.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $384.33.
Get Our Latest Stock Analysis on CAT
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.
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