Edgar Lomax Co. VA Cuts Stock Position in Caterpillar Inc. (NYSE:CAT)

Edgar Lomax Co. VA cut its stake in shares of Caterpillar Inc. (NYSE:CAT) by 1.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 78,093 shares of the industrial products company’s stock after selling 1,495 shares during the period. Caterpillar comprises about 1.8% of Edgar Lomax Co. VA’s holdings, making the stock its 24th biggest holding. Edgar Lomax Co. VA’s holdings in Caterpillar were worth $28,329,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Flagship Wealth Advisors LLC purchased a new position in shares of Caterpillar in the fourth quarter valued at approximately $26,000. Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Caterpillar during the fourth quarter worth $27,000. Cyrus J. Lawrence LLC acquired a new position in Caterpillar during the fourth quarter worth about $27,000. Noble Wealth Management PBC acquired a new stake in Caterpillar in the 4th quarter valued at about $31,000. Finally, Retirement Wealth Solutions LLC purchased a new stake in shares of Caterpillar in the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insiders Place Their Bets

In other news, Director Gerald Johnson bought 100 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were purchased at an average cost of $365.57 per share, for a total transaction of $36,557.00. Following the completion of the purchase, the director now owns 3,053 shares of the company’s stock, valued at approximately $1,116,085.21. This represents a 3.39 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jason Kaiser sold 2,425 shares of Caterpillar stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total transaction of $860,147.50. Following the completion of the transaction, the insider now owns 6,275 shares of the company’s stock, valued at $2,225,742.50. This represents a 27.87 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is owned by company insiders.

Caterpillar Stock Performance

NYSE CAT opened at $293.82 on Friday. The company has a market cap of $140.42 billion, a P/E ratio of 13.31, a P/E/G ratio of 1.87 and a beta of 1.21. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $418.50. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. The stock has a 50-day moving average of $327.08 and a two-hundred day moving average of $363.98.

Caterpillar (NYSE:CAT) last announced its earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share for the quarter, topping the consensus estimate of $4.97 by $0.17. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. As a group, analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Monday, April 21st will be paid a dividend of $1.41 per share. The ex-dividend date is Monday, April 21st. This represents a $5.64 annualized dividend and a yield of 1.92%. Caterpillar’s payout ratio is 25.56%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Morgan Stanley upgraded Caterpillar from an “underweight” rating to an “equal weight” rating and dropped their target price for the company from $300.00 to $283.00 in a report on Wednesday. Wedbush upgraded shares of Caterpillar to an “outperform” rating in a research report on Monday, February 3rd. Truist Financial decreased their target price on shares of Caterpillar from $438.00 to $389.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Bank of America reduced their price target on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. lowered their price objective on Caterpillar from $490.00 to $380.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $361.64.

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.