USA Financial Formulas Cuts Stock Position in Caterpillar Inc. (NYSE:CAT)

USA Financial Formulas cut its stake in shares of Caterpillar Inc. (NYSE:CAT) by 10.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 771 shares of the industrial products company’s stock after selling 91 shares during the quarter. USA Financial Formulas’ holdings in Caterpillar were worth $280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Fairscale Capital LLC purchased a new stake in Caterpillar during the 2nd quarter valued at about $36,000. Capital Performance Advisors LLP purchased a new stake in Caterpillar during the 3rd quarter valued at about $36,000. Kimelman & Baird LLC boosted its holdings in Caterpillar by 42.9% during the 3rd quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 30 shares during the period. HWG Holdings LP purchased a new stake in Caterpillar during the 2nd quarter valued at about $54,000. Finally, SOA Wealth Advisors LLC. boosted its holdings in Caterpillar by 47.2% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 156 shares of the industrial products company’s stock valued at $61,000 after acquiring an additional 50 shares during the period. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. increased their price objective on Caterpillar from $500.00 to $515.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Evercore ISI upgraded Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 price objective for the company in a report on Monday. Bank of America increased their price objective on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Citigroup dropped their price objective on Caterpillar from $460.00 to $420.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Truist Financial dropped their price objective on Caterpillar from $471.00 to $455.00 and set a “buy” rating for the company in a report on Thursday. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $380.60.

Insider Activity at Caterpillar

In other Caterpillar news, insider Cheryl H. Johnson sold 2,664 shares of Caterpillar stock in a transaction on 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 completion of the sale, the insider now owns 12,951 shares of the company’s stock, valued at approximately $4,906,356.84. This trade represents a 17.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lange Bob De sold 12,657 shares of Caterpillar stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $410.25, for a total value of $5,192,534.25. Following the completion of the sale, the insider now directly owns 71,107 shares of the company’s stock, valued at approximately $29,171,646.75. The trade was a 15.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,868 shares of company stock valued at $9,679,489 in the last 90 days. Corporate insiders own 0.29% of the company’s stock.

Caterpillar Stock Up 1.6 %

CAT stock opened at $380.85 on Friday. Caterpillar Inc. has a twelve month low of $276.94 and a twelve month high of $418.50. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. The firm has a market cap of $183.87 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 1.72 and a beta of 1.13. The business has a 50 day moving average of $380.24 and a 200 day moving average of $366.36.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data 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). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The company had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. During the same period last year, the business earned $5.52 EPS. The firm’s quarterly revenue was down 4.2% on a year-over-year basis. On average, research analysts forecast that Caterpillar Inc. will post 21.68 EPS for the current fiscal year.

Caterpillar Announces Dividend

The business also recently disclosed 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. This represents a $5.64 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend is Tuesday, January 21st. Caterpillar’s dividend payout ratio (DPR) is presently 26.15%.

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.