Bank of Nova Scotia Trims Stake in Caterpillar Inc. (NYSE:CAT)

Bank of Nova Scotia cut its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 22.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 453,845 shares of the industrial products company's stock after selling 130,533 shares during the period. Bank of Nova Scotia owned about 0.09% of Caterpillar worth $164,648,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CAT. Nordea Investment Management AB raised its holdings in shares of Caterpillar by 1.6% during the 4th quarter. Nordea Investment Management AB now owns 635,750 shares of the industrial products company's stock valued at $231,686,000 after buying an additional 10,212 shares in the last quarter. West Wealth Group LLC bought a new stake in shares of Caterpillar in the 4th quarter worth approximately $230,000. Cadinha & Co. LLC purchased a new stake in shares of Caterpillar in the 4th quarter valued at $11,084,000. Atomi Financial Group Inc. raised its position in Caterpillar by 3.9% in the 4th quarter. Atomi Financial Group Inc. now owns 23,193 shares of the industrial products company's stock worth $8,414,000 after purchasing an additional 871 shares during the period. Finally, Copley Financial Group Inc. bought a new stake in Caterpillar in the third quarter worth $800,000. Institutional investors own 70.98% of the company's stock.

Insider Buying and Selling

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $380.09, for a total value of $3,800,900.00. Following the completion of the sale, the chief financial officer now owns 45,182 shares of the company's stock, valued at approximately $17,173,226.38. The trade was a 18.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jason Kaiser sold 2,425 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total value of $860,147.50. Following the transaction, the insider now directly owns 6,275 shares in the company, valued at $2,225,742.50. The trade was a 27.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is owned by corporate insiders.

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Caterpillar Stock Up 1.4 %

Shares of NYSE:CAT traded up $4.19 on Friday, hitting $293.35. 3,197,039 shares of the company traded hands, compared to its average volume of 2,628,198. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $418.50. The stock has a 50 day simple moving average of $333.97 and a 200-day simple moving average of $367.00. The company has a market cap of $140.20 billion, a PE ratio of 13.29, a PEG ratio of 1.87 and a beta of 1.21. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40.

Caterpillar (NYSE:CAT - Get Free Report) last issued its earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) 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, research analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Stockholders of record on Monday, April 21st will be issued a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date is Monday, April 21st. Caterpillar's payout ratio is currently 25.56%.

Wall Street Analyst Weigh In

CAT has been the topic of several analyst reports. Evercore ISI lifted their price objective on Caterpillar from $365.00 to $375.00 and gave the stock an "in-line" rating in a report on Wednesday, February 19th. Citigroup cut their target price on shares of Caterpillar from $430.00 to $320.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. DA Davidson upped their price target on shares of Caterpillar from $350.00 to $357.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th. Truist Financial lowered their price objective on shares of Caterpillar from $438.00 to $389.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Finally, Wedbush raised Caterpillar to an "outperform" rating in a research report on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, Caterpillar presently has a consensus rating of "Hold" and a consensus price target of $373.20.

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.