Manchester Capital Management LLC Reduces Stock Position in Caterpillar Inc. (NYSE:CAT)

Manchester Capital Management LLC lessened its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 69.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,005 shares of the industrial products company's stock after selling 2,300 shares during the quarter. Manchester Capital Management LLC's holdings in Caterpillar were worth $365,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CAT. Geode Capital Management LLC boosted its holdings in shares of Caterpillar by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 10,213,455 shares of the industrial products company's stock worth $3,987,206,000 after purchasing an additional 67,148 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Caterpillar by 2.3% in the 3rd quarter. Fisher Asset Management LLC now owns 8,952,632 shares of the industrial products company's stock worth $3,501,554,000 after purchasing an additional 205,012 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Caterpillar by 1.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,627,513 shares of the industrial products company's stock worth $1,418,793,000 after purchasing an additional 64,452 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Caterpillar by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,227,378 shares of the industrial products company's stock worth $1,262,290,000 after acquiring an additional 8,088 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in shares of Caterpillar by 39,534.0% during the 3rd quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company's stock worth $8,356,930,000 after acquiring an additional 2,131,276 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company's stock.

Caterpillar Stock Down 1.1 %

Shares of CAT traded down $3.98 during trading hours on Wednesday, hitting $350.03. The company had a trading volume of 882,352 shares, compared to its average volume of 2,355,982. The company has a market capitalization of $168.99 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of 1.88 and a beta of 1.12. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40. Caterpillar Inc. has a one year low of $307.05 and a one year high of $418.50. The company's fifty day moving average price is $370.89 and its two-hundred day moving average price is $372.54.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 EPS for the quarter, topping the consensus estimate of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. As a group, equities analysts forecast that Caterpillar Inc. will post 19.98 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

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 $1.41 dividend. This represents a $5.64 annualized dividend and a dividend yield of 1.61%. The ex-dividend date is Tuesday, January 21st. Caterpillar's payout ratio is 25.56%.

Analysts Set New Price Targets

CAT has been the subject of a number of research analyst reports. JPMorgan Chase & Co. decreased their price target on Caterpillar from $515.00 to $490.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. Truist Financial decreased their price target on Caterpillar from $455.00 to $438.00 and set a "buy" rating for the company in a research note on Monday, February 3rd. Morgan Stanley decreased their price target on Caterpillar from $330.00 to $300.00 and set an "underweight" rating for the company in a research note on Friday, January 31st. Citigroup raised their price target on Caterpillar from $420.00 to $430.00 and gave the stock a "buy" rating in a research note on Friday, January 31st. Finally, Bank of America decreased their price target on Caterpillar from $452.00 to $414.00 and set a "buy" rating for the company in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Caterpillar has an average rating of "Hold" and an average target price of $383.80.

Insider Buying and Selling

In related news, insider Jason Kaiser sold 2,425 shares of the business'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 in the company, valued at $2,225,742.50. The trade was a 27.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the business's stock in a transaction on 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 transaction, the chief financial officer now owns 45,182 shares in the company, valued at approximately $17,173,226.38. This trade represents a 18.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,704 shares of company stock worth $7,226,584 in the last ninety days. 0.29% of the stock is owned by insiders.

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.