Caterpillar Inc. (NYSE:CAT) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC lowered its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 2.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 109,655 shares of the industrial products company's stock after selling 3,120 shares during the quarter. Gabelli Funds LLC's holdings in Caterpillar were worth $39,778,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CAT. Flagship Wealth Advisors LLC acquired a new stake in shares of Caterpillar in the fourth quarter valued at about $26,000. Halbert Hargrove Global Advisors LLC acquired a new stake in Caterpillar in the 4th quarter worth about $27,000. Cyrus J. Lawrence LLC acquired a new position in shares of Caterpillar during the fourth quarter valued at approximately $27,000. Noble Wealth Management PBC purchased a new position in shares of Caterpillar in the fourth quarter valued at approximately $31,000. Finally, Retirement Wealth Solutions LLC acquired a new stake in shares of Caterpillar in the fourth quarter worth approximately $34,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CAT has been the topic of a number of research reports. Morgan Stanley upgraded Caterpillar from an "underweight" rating to an "equal weight" rating and decreased their price objective for the company from $300.00 to $283.00 in a report on Wednesday. StockNews.com lowered shares of Caterpillar from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. UBS Group upgraded shares of Caterpillar from a "sell" rating to a "neutral" rating and increased their price objective for the company from $355.00 to $385.00 in a report on Monday, February 3rd. DA Davidson boosted their target price on Caterpillar from $350.00 to $357.00 and gave the stock a "neutral" rating in a report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. dropped their price target on Caterpillar from $490.00 to $380.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $361.64.

Caterpillar Trading Up 1.3 %

Shares of NYSE:CAT traded up $3.68 during mid-day trading on Friday, reaching $293.82. 2,716,340 shares of the company were exchanged, compared to its average volume of 2,639,101. The firm's 50-day simple moving average is $327.08 and its 200 day simple moving average is $363.98. The firm has a market cap of $140.42 billion, a price-to-earnings ratio of 13.31, a P/E/G ratio of 1.87 and a beta of 1.21. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $418.50.

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

Caterpillar Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Monday, April 21st will be paid a dividend of $1.41 per share. The ex-dividend date is Monday, April 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.92%. Caterpillar's payout ratio is currently 25.56%.

Insiders Place Their Bets

In other Caterpillar news, insider Jason Kaiser sold 2,425 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total value of $860,147.50. Following the completion of the sale, the insider now owns 6,275 shares of the company's stock, valued at approximately $2,225,742.50. This trade represents a 27.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gerald Johnson purchased 100 shares of the stock in a transaction dated Tuesday, February 4th. The shares were bought at an average cost of $365.57 per share, for a total transaction of $36,557.00. Following the completion of the purchase, the director now owns 3,053 shares in the company, valued at approximately $1,116,085.21. This trade represents a 3.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 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.