Convergence Investment Partners LLC Sells 1,553 Shares of Caterpillar Inc. (NYSE:CAT)

Convergence Investment Partners LLC cut its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 21.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,828 shares of the industrial products company's stock after selling 1,553 shares during the quarter. Convergence Investment Partners LLC's holdings in Caterpillar were worth $2,114,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Retirement Wealth Solutions LLC purchased a new position in shares of Caterpillar during the fourth quarter worth approximately $34,000. Capital Performance Advisors LLP purchased a new stake in shares of Caterpillar in the 3rd quarter valued at $36,000. Albion Financial Group UT grew its holdings in shares of Caterpillar by 334.8% during the 4th quarter. Albion Financial Group UT now owns 100 shares of the industrial products company's stock valued at $36,000 after purchasing an additional 77 shares during the last quarter. Kimelman & Baird LLC lifted its stake in Caterpillar by 42.9% in the third quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company's stock worth $39,000 after purchasing an additional 30 shares during the last quarter. Finally, Trivant Custom Portfolio Group LLC boosted its position in Caterpillar by 130.0% during the fourth quarter. Trivant Custom Portfolio Group LLC now owns 115 shares of the industrial products company's stock valued at $42,000 after buying an additional 65 shares during the period. Hedge funds and other institutional investors own 70.98% of the company's stock.

Insider Buying and Selling

In other Caterpillar news, Director Gerald Johnson bought 100 shares of the stock in a transaction dated Wednesday, December 4th. The stock was bought at an average cost of $398.57 per share, for a total transaction of $39,857.00. Following the completion of the purchase, the director now owns 2,953 shares in the company, valued at $1,176,977.21. This represents a 3.51 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Anthony D. Fassino sold 6,279 shares of Caterpillar stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $408.59, for a total transaction of $2,565,536.61. Following the sale, the insider now owns 33,565 shares of the company's stock, valued at approximately $13,714,323.35. This represents a 15.76 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,704 shares of company stock valued at $7,226,584. Insiders own 0.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CAT. JPMorgan Chase & Co. lowered their price objective on shares of Caterpillar from $515.00 to $490.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. StockNews.com raised Caterpillar from a "hold" rating to a "buy" rating in a research report on Tuesday, February 11th. Citigroup lifted their price objective on Caterpillar from $420.00 to $430.00 and gave the stock a "buy" rating in a research report on Friday, January 31st. Evercore ISI upped their target price on Caterpillar from $365.00 to $375.00 and gave the company an "in-line" rating in a report on Wednesday. Finally, DA Davidson lifted 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. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $383.80.

Caterpillar Stock Performance

CAT stock traded down $9.31 during mid-day trading on Friday, reaching $339.84. The company had a trading volume of 3,219,133 shares, compared to its average volume of 2,416,826. The stock's 50-day simple moving average is $369.54 and its two-hundred day simple moving average is $372.24. The stock has a market capitalization of $162.42 billion, a P/E ratio of 15.40, a P/E/G ratio of 1.89 and a beta of 1.12. 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 Inc. has a one year low of $307.05 and a one year high of $418.50.

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 for the quarter, topping analysts' consensus estimates of $4.97 by $0.17. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. Research analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Tuesday, January 21st were paid a $1.41 dividend. The ex-dividend date of this dividend was Tuesday, January 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.66%. Caterpillar's payout ratio is presently 25.56%.

Caterpillar Company 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.