Sterling Capital Management LLC Decreases Holdings in Caterpillar Inc. (NYSE:CAT)

Sterling Capital Management LLC cut its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 75.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,216 shares of the industrial products company's stock after selling 12,835 shares during the quarter. Sterling Capital Management LLC's holdings in Caterpillar were worth $1,529,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

CAT has been the subject of several recent research reports. DA Davidson lifted their target price on shares of Caterpillar from $350.00 to $357.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 4th. Raymond James raised shares of Caterpillar from a "market perform" rating to an "outperform" rating in a report on Monday, February 3rd. Truist Financial cut their target price on Caterpillar from $438.00 to $389.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Evercore ISI boosted their price objective on shares of Caterpillar from $365.00 to $375.00 and gave the company an "in-line" rating in a research note on Wednesday, February 19th. Finally, Citigroup lowered their price objective on Caterpillar from $430.00 to $320.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Caterpillar presently has an average rating of "Hold" and a consensus target price of $361.64.

Caterpillar Stock Up 1.3 %

NYSE CAT traded up $3.68 during mid-day trading on Friday, reaching $293.82. The stock had a trading volume of 2,716,340 shares, compared to its average volume of 2,638,071. The stock has a market cap of $140.42 billion, a PE ratio of 13.31, a price-to-earnings-growth ratio of 1.87 and a beta of 1.21. The company has a fifty day moving average price of $328.46 and a 200 day moving average price of $364.66. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $418.50. 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 (NYSE:CAT - Get Free Report) last announced 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 net margin of 16.65% and a return on equity of 58.18%. On average, research analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Announces Dividend

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

Insider Activity at Caterpillar

In other Caterpillar news, 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 sale, the insider now directly owns 6,275 shares of the company's stock, valued at $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 is available through the SEC website. Also, Director Gerald Johnson purchased 100 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was acquired at an average cost of $365.57 per share, for a total transaction of $36,557.00. Following the completion of the acquisition, the director now owns 3,053 shares in the company, valued at $1,116,085.21. This represents a 3.39 % increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by company insiders.

Caterpillar 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.