Meyer Handelman Co. Lowers Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Meyer Handelman Co. cut its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 1.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 124,466 shares of the industrial products company's stock after selling 1,900 shares during the quarter. Caterpillar accounts for approximately 1.6% of Meyer Handelman Co.'s holdings, making the stock its 15th largest position. Meyer Handelman Co.'s holdings in Caterpillar were worth $45,151,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. lifted its position in Caterpillar by 79.4% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,123 shares of the industrial products company's stock valued at $407,000 after purchasing an additional 497 shares during the period. Park Avenue Securities LLC raised its stake in Caterpillar by 8.5% during the 4th quarter. Park Avenue Securities LLC now owns 22,526 shares of the industrial products company's stock valued at $8,172,000 after buying an additional 1,764 shares during the last quarter. Kathmere Capital Management LLC lifted its holdings in shares of Caterpillar by 31.6% during the 4th quarter. Kathmere Capital Management LLC now owns 2,023 shares of the industrial products company's stock valued at $734,000 after buying an additional 486 shares during the period. Board of the Pension Protection Fund purchased a new position in shares of Caterpillar in the 4th quarter worth $580,000. Finally, Rockland Trust Co. increased its position in Caterpillar by 6.7% during the fourth quarter. Rockland Trust Co. now owns 4,950 shares of the industrial products company's stock valued at $1,796,000 after acquiring an additional 310 shares during the last quarter. Institutional investors own 70.98% of the company's stock.

Caterpillar Price Performance

CAT stock traded up $4.14 during midday trading on Wednesday, hitting $375.71. The company's stock had a trading volume of 1,267,845 shares, compared to its average volume of 1,922,344. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. Caterpillar Inc. has a 12 month low of $276.94 and a 12 month high of $418.50. The company has a 50 day moving average of $381.63 and a two-hundred day moving average of $366.20. The firm has a market capitalization of $181.39 billion, a price-to-earnings ratio of 17.42, a price-to-earnings-growth ratio of 1.88 and a beta of 1.13.

Caterpillar (NYSE:CAT - Get Free Report) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing analysts' consensus estimates of $5.33 by ($0.16). The company had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. Caterpillar's revenue was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.52 EPS. On average, analysts expect that Caterpillar Inc. will post 21.68 EPS for the current year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Tuesday, January 21st will be given a $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend is Tuesday, January 21st. Caterpillar's dividend payout ratio is presently 26.15%.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, CAO William E. Schaupp sold 968 shares of the business's stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $380.98, for a total transaction of $368,788.64. Following the completion of the transaction, the chief accounting officer now owns 1,686 shares in the company, valued at $642,332.28. The trade was a 36.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Cheryl H. Johnson sold 2,664 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $378.84, for a total value of $1,009,229.76. Following the completion of the sale, the insider now owns 12,951 shares in the company, valued at approximately $4,906,356.84. The trade was a 17.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,868 shares of company stock worth $9,679,489 over the last 90 days. 0.29% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CAT shares. StockNews.com downgraded Caterpillar from a "buy" rating to a "hold" rating in a research note on Thursday, January 9th. Truist Financial boosted their target price on shares of Caterpillar from $454.00 to $471.00 and gave the company a "buy" rating in a research report on Thursday, December 19th. 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 report on Thursday, October 31st. JPMorgan Chase & Co. boosted their price objective on shares of Caterpillar from $500.00 to $515.00 and gave the company an "overweight" rating in a research report on Monday, December 9th. Finally, UBS Group raised their target price on Caterpillar from $285.00 to $295.00 and gave the stock a "sell" rating in a report on Monday, November 4th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $381.67.

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.