Spinnaker Trust Sells 1,900 Shares of Caterpillar Inc. (NYSE:CAT)

Spinnaker Trust lowered its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 8.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,310 shares of the industrial products company's stock after selling 1,900 shares during the period. Spinnaker Trust's holdings in Caterpillar were worth $7,730,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nordea Investment Management AB raised its holdings in Caterpillar by 1.6% in the 4th quarter. Nordea Investment Management AB now owns 635,750 shares of the industrial products company's stock worth $231,686,000 after acquiring an additional 10,212 shares during the last quarter. West Wealth Group LLC bought a new position in shares of Caterpillar during the fourth quarter valued at $230,000. Citizens Financial Group Inc. RI boosted its position in shares of Caterpillar by 43.0% during the third quarter. Citizens Financial Group Inc. RI now owns 13,902 shares of the industrial products company's stock valued at $5,437,000 after buying an additional 4,181 shares during the last quarter. Cadinha & Co. LLC bought a new stake in Caterpillar in the 4th quarter worth about $11,084,000. Finally, Atomi Financial Group Inc. lifted its stake in Caterpillar by 3.9% during the 4th quarter. Atomi Financial Group Inc. now owns 23,193 shares of the industrial products company's stock valued at $8,414,000 after acquiring an additional 871 shares during the period. Institutional investors own 70.98% of the company's stock.

Insiders Place Their Bets

In related news, insider Anthony D. Fassino sold 6,279 shares of Caterpillar stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $408.59, for a total transaction of $2,565,536.61. Following the completion of the transaction, the insider now directly owns 33,565 shares of the company's stock, valued at approximately $13,714,323.35. The trade was a 15.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jason Kaiser sold 2,425 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total transaction of $860,147.50. Following the completion of the sale, the insider now directly owns 6,275 shares of the company's stock, valued at approximately $2,225,742.50. The trade was a 27.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,704 shares of company stock valued at $7,226,584 over the last three months. 0.29% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on CAT shares. StockNews.com upgraded shares of Caterpillar from a "hold" rating to a "buy" rating in a research note on Tuesday, February 11th. DA Davidson increased their price target on Caterpillar from $350.00 to $357.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th. Morgan Stanley cut their price objective on Caterpillar from $330.00 to $300.00 and set an "underweight" rating for the company in a report on Friday, January 31st. Jefferies Financial Group raised their target price on Caterpillar from $455.00 to $475.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. Finally, Robert W. Baird upped their price target on shares of Caterpillar from $299.00 to $300.00 and gave the company an "underperform" rating in a research report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $383.80.

Caterpillar Price Performance

Shares of CAT traded down $3.68 during mid-day trading on Wednesday, hitting $350.32. 800,185 shares of the stock were exchanged, compared to its average volume of 2,352,335. The firm has a 50-day moving average of $370.89 and a two-hundred day moving average of $372.54. Caterpillar Inc. has a 52-week low of $307.05 and a 52-week high of $418.50. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42. The company has a market cap of $169.14 billion, a PE ratio of 15.87, a price-to-earnings-growth ratio of 1.88 and a beta of 1.12.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 EPS for the quarter, topping the consensus estimate of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. On average, equities analysts predict that Caterpillar Inc. will post 19.98 earnings per share for the current year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Tuesday, January 21st will be issued a dividend of $1.41 per share. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $5.64 annualized dividend and a yield of 1.61%. 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.