Federated Hermes Inc. Trims Position in Caterpillar Inc. (NYSE:CAT)

Federated Hermes Inc. cut its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 59.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,898 shares of the industrial products company's stock after selling 69,018 shares during the period. Federated Hermes Inc.'s holdings in Caterpillar were worth $17,375,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its stake in shares of Caterpillar by 0.7% during the third quarter. Principal Financial Group Inc. now owns 729,654 shares of the industrial products company's stock valued at $285,382,000 after buying an additional 5,371 shares during the period. Continuum Advisory LLC increased its position in Caterpillar by 11.9% during the 3rd quarter. Continuum Advisory LLC now owns 1,162 shares of the industrial products company's stock valued at $450,000 after purchasing an additional 124 shares during the period. Executive Wealth Management LLC bought a new stake in shares of Caterpillar in the 3rd quarter valued at about $850,000. Brophy Wealth Management LLC purchased a new stake in shares of Caterpillar in the 3rd quarter worth approximately $409,000. Finally, Chiron Investment Management LLC bought a new position in shares of Caterpillar during the third quarter valued at approximately $681,000. Hedge funds and other institutional investors own 70.98% of the company's stock.

Caterpillar Price Performance

Shares of CAT stock traded up $8.21 during trading hours on Monday, hitting $301.66. 555,168 shares of the company's stock were exchanged, compared to its average volume of 2,620,836. The firm has a 50 day moving average of $333.97 and a two-hundred day moving average of $367.00. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $418.50. The firm has a market cap of $144.17 billion, a P/E ratio of 13.67, a P/E/G ratio of 1.87 and a beta of 1.21. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40.

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Caterpillar (NYSE:CAT - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.97 by $0.17. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. Sell-side analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

The company also recently announced 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. The ex-dividend date is Monday, April 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.87%. Caterpillar's dividend payout ratio (DPR) is presently 25.56%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. JPMorgan Chase & Co. dropped their target price on Caterpillar from $515.00 to $490.00 and set an "overweight" rating on the stock in a research report on Friday, January 31st. Truist Financial decreased their price target on shares of Caterpillar from $438.00 to $389.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Bank of America cut their price objective on shares of Caterpillar from $452.00 to $414.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. StockNews.com cut Caterpillar from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Finally, DA Davidson upped their target price on Caterpillar from $350.00 to $357.00 and gave the company a "neutral" rating in a research report on Tuesday, February 4th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, Caterpillar presently has a consensus rating of "Hold" and an average target price of $373.20.

Insider Transactions at Caterpillar

In related news, insider Jason Kaiser sold 2,425 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were 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 approximately $2,225,742.50. The trade was a 27.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $380.09, for a total transaction 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 approximately $17,173,226.38. The trade was a 18.12 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company's stock.

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.