CGN Advisors LLC trimmed its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 12.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,415 shares of the industrial products company's stock after selling 892 shares during the quarter. CGN Advisors LLC's holdings in Caterpillar were worth $2,327,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Premier Path Wealth Partners LLC increased its holdings in Caterpillar by 17.8% in the fourth quarter. Premier Path Wealth Partners LLC now owns 3,252 shares of the industrial products company's stock valued at $1,180,000 after purchasing an additional 492 shares during the period. Sanibel Captiva Trust Company Inc. increased its stake in shares of Caterpillar by 2.1% in the fourth quarter. Sanibel Captiva Trust Company Inc. now owns 46,329 shares of the industrial products company's stock valued at $16,806,000 after buying an additional 942 shares during the period. Verity & Verity LLC raised its position in shares of Caterpillar by 45.6% during the fourth quarter. Verity & Verity LLC now owns 1,134 shares of the industrial products company's stock worth $411,000 after acquiring an additional 355 shares during the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH acquired a new position in shares of Caterpillar in the fourth quarter worth approximately $211,000. Finally, InTrack Investment Management Inc boosted its holdings in Caterpillar by 65.1% in the fourth quarter. InTrack Investment Management Inc now owns 3,808 shares of the industrial products company's stock valued at $1,415,000 after acquiring an additional 1,502 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.
Caterpillar Stock Up 1.4 %
CAT traded up $5.48 during midday trading on Friday, reaching $386.03. 2,596,820 shares of the company were exchanged, compared to its average volume of 1,595,788. Caterpillar Inc. has a one year low of $277.66 and a one year high of $418.50. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40. The company's fifty day moving average price is $380.09 and its 200 day moving average price is $367.03. The company has a market cap of $186.38 billion, a price-to-earnings ratio of 17.90, a price-to-earnings-growth ratio of 1.72 and a beta of 1.13.
Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing the consensus estimate of $5.33 by ($0.16). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The company had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. During the same quarter last year, the business posted $5.52 earnings per share. Caterpillar's revenue was down 4.2% on a year-over-year basis. As a group, analysts expect that Caterpillar Inc. will post 21.68 EPS for the current year.
Caterpillar Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Tuesday, January 21st will be paid a $1.41 dividend. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.46%. Caterpillar's payout ratio is presently 26.15%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently commented on CAT shares. Jefferies Financial Group upped their price objective on shares of Caterpillar from $455.00 to $475.00 and gave the company a "buy" rating in a research note on Friday, December 6th. JPMorgan Chase & Co. upped their price target 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. Bank of America lifted their price objective on Caterpillar from $376.00 to $434.00 and gave the stock a "buy" rating in a research report on Monday, September 30th. Truist Financial cut their target price on Caterpillar from $471.00 to $455.00 and set a "buy" rating on the stock in a research report on Thursday. Finally, Morgan Stanley lowered Caterpillar from an "equal weight" rating to an "underweight" rating and dropped their price target for the company from $349.00 to $332.00 in a research note on Monday, October 14th. Three investment 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 a consensus price target of $380.60.
Read Our Latest Research Report on Caterpillar
Insider Activity
In other news, Director Daniel M. Dickinson sold 1,300 shares of Caterpillar stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $418.00, for a total transaction of $543,400.00. Following the sale, the director now directly owns 4,976 shares in the company, valued at $2,079,968. The trade was a 20.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm's stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the sale, the chief financial officer now owns 45,182 shares of the company's stock, valued at $17,173,226.38. This trade represents a 18.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,868 shares of company stock valued at $13,480,389 over the last three months. Corporate insiders own 0.29% of the company's stock.
Caterpillar Company Profile
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Free Report)
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.
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