CX Institutional Decreases Stock Holdings in Caterpillar Inc. (NYSE:CAT)

CX Institutional lessened its holdings in Caterpillar Inc. (NYSE:CAT) by 5.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,395 shares of the industrial products company’s stock after selling 1,393 shares during the quarter. CX Institutional’s holdings in Caterpillar were worth $9,213,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Encompass More Asset Management lifted its stake in Caterpillar by 5.0% during the fourth quarter. Encompass More Asset Management now owns 605 shares of the industrial products company’s stock worth $220,000 after purchasing an additional 29 shares during the last quarter. Sound Income Strategies LLC lifted its position in shares of Caterpillar by 9.5% during the 4th quarter. Sound Income Strategies LLC now owns 1,864 shares of the industrial products company’s stock worth $676,000 after buying an additional 161 shares during the last quarter. RFG Advisory LLC boosted its holdings in shares of Caterpillar by 3.6% in the 4th quarter. RFG Advisory LLC now owns 6,739 shares of the industrial products company’s stock valued at $2,445,000 after buying an additional 232 shares in the last quarter. Motive Wealth Advisors purchased a new position in shares of Caterpillar in the 4th quarter valued at $206,000. Finally, MFA Wealth Services acquired a new stake in Caterpillar during the 4th quarter worth $639,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Stock Down 0.1 %

Caterpillar stock opened at $405.98 on Friday. The stock’s 50 day moving average price is $380.20 and its 200 day moving average price is $368.38. Caterpillar Inc. has a 1-year low of $293.13 and a 1-year high of $418.50. The company has a market cap of $196.01 billion, a PE ratio of 18.87, a price-to-earnings-growth ratio of 1.97 and a beta of 1.13. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86.

Caterpillar (NYSE:CAT) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing the consensus estimate of $5.33 by ($0.16). The company had revenue of $16.11 billion for the quarter, compared to analysts’ expectations of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. Caterpillar’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.52 earnings per share. On average, sell-side analysts predict that Caterpillar Inc. will post 21.69 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders 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 dividend yield of 1.39%. Caterpillar’s payout ratio is 26.15%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Evercore ISI upgraded shares of Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 price objective for the company in a research note on Monday, January 13th. Bank of America raised their price target on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Truist Financial reduced their price objective on Caterpillar from $471.00 to $455.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Citigroup cut their target price on shares of Caterpillar from $460.00 to $420.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Finally, Robert W. Baird increased their price target on shares of Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $380.60.

Insider Buying and Selling

In other Caterpillar news, CAO William E. Schaupp sold 968 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $380.98, for a total value of $368,788.64. Following the sale, the chief accounting officer now owns 1,686 shares of the company’s stock, valued at $642,332.28. This represents a 36.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lange Bob De sold 12,657 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the transaction, the insider now directly owns 71,107 shares of the company’s stock, valued at approximately $29,171,646.75. This trade represents a 15.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,868 shares of company stock worth $13,480,389 in the last quarter. Company insiders own 0.29% of the company’s stock.

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.