Cerity Partners LLC Decreases Holdings in Caterpillar Inc. (NYSE:CAT)

Cerity Partners LLC trimmed its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 1.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 230,215 shares of the industrial products company's stock after selling 3,659 shares during the quarter. Cerity Partners LLC's holdings in Caterpillar were worth $84,064,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Flagship Wealth Advisors LLC purchased a new stake in Caterpillar during the fourth quarter valued at about $26,000. Halbert Hargrove Global Advisors LLC purchased a new stake in Caterpillar during the 4th quarter valued at about $27,000. Cyrus J. Lawrence LLC bought a new position in Caterpillar during the 4th quarter worth approximately $27,000. Noble Wealth Management PBC purchased a new position in Caterpillar in the 4th quarter worth approximately $31,000. Finally, Retirement Wealth Solutions LLC bought a new stake in Caterpillar in the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 70.98% of the company's stock.

Caterpillar Stock Up 1.4 %

NYSE:CAT traded up $4.19 during mid-day trading on Friday, hitting $293.35. 3,197,039 shares of the company's stock were exchanged, compared to its average volume of 2,628,198. The company has a market cap of $140.20 billion, a PE ratio of 13.29, a P/E/G ratio of 1.87 and a beta of 1.21. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. Caterpillar Inc. has a one year low of $267.30 and a one year high of $418.50. The business has a fifty day moving average price of $333.97 and a 200 day moving average price of $367.00.

Remove Ads

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 EPS for the quarter, topping analysts' consensus estimates of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. Equities analysts predict that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages recently commented on CAT. Wedbush raised shares of Caterpillar to an "outperform" rating in a research note on Monday, February 3rd. Citigroup lowered their price objective on shares of Caterpillar from $430.00 to $320.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. DA Davidson raised their target price on Caterpillar from $350.00 to $357.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 4th. UBS Group raised Caterpillar from a "sell" rating to a "neutral" rating and upped their price target for the company from $355.00 to $385.00 in a research report on Monday, February 3rd. Finally, Evercore ISI lifted their price objective on Caterpillar from $365.00 to $375.00 and gave the stock an "in-line" rating in a research report on Wednesday, February 19th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, Caterpillar presently has a consensus rating of "Hold" and a consensus price target of $373.20.

Insider Buying and Selling

In other news, insider Jason Kaiser sold 2,425 shares of the company's stock in a transaction 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 transaction, the insider now directly owns 6,275 shares of the company's stock, valued at $2,225,742.50. This represents a 27.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction dated Thursday, January 16th. The stock was 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 $17,173,226.38. The trade was a 18.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by company insiders.

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.