Summit Investment Advisors Inc. Trims Position in Caterpillar Inc. (NYSE:CAT)

Summit Investment Advisors Inc. lowered its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 9.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,916 shares of the industrial products company's stock after selling 1,249 shares during the quarter. Summit Investment Advisors Inc.'s holdings in Caterpillar were worth $4,323,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. FSM Wealth Advisors LLC raised its stake in Caterpillar by 3.8% during the 4th quarter. FSM Wealth Advisors LLC now owns 688 shares of the industrial products company's stock valued at $262,000 after acquiring an additional 25 shares during the last quarter. Allen Capital Group LLC lifted its holdings in shares of Caterpillar by 0.6% during the fourth quarter. Allen Capital Group LLC now owns 4,247 shares of the industrial products company's stock worth $1,541,000 after purchasing an additional 26 shares during the period. Wagner Wealth Management LLC increased its stake in Caterpillar by 4.0% in the 4th quarter. Wagner Wealth Management LLC now owns 668 shares of the industrial products company's stock valued at $242,000 after buying an additional 26 shares during the period. Channel Wealth LLC lifted its stake in shares of Caterpillar by 1.9% in the 4th quarter. Channel Wealth LLC now owns 1,468 shares of the industrial products company's stock worth $533,000 after acquiring an additional 27 shares during the period. Finally, Total Clarity Wealth Management Inc. increased its stake in shares of Caterpillar by 0.6% during the fourth quarter. Total Clarity Wealth Management Inc. now owns 4,373 shares of the industrial products company's stock worth $1,586,000 after acquiring an additional 27 shares during the period. Institutional investors and hedge funds own 70.98% of the company's stock.

Remove Ads

Analyst Ratings Changes

A number of brokerages have issued reports on CAT. Bank of America dropped their target price on shares of Caterpillar from $452.00 to $414.00 and set a "buy" rating for the company in a report on Friday, January 31st. JPMorgan Chase & Co. lowered their price objective on shares of Caterpillar from $490.00 to $380.00 and set an "overweight" rating for the company in a research note on Monday. Raymond James upgraded Caterpillar from a "market perform" rating to an "outperform" rating in a report on Monday, February 3rd. Evercore ISI lifted their target price on shares of Caterpillar from $365.00 to $375.00 and gave the company an "in-line" rating in a report on Wednesday, February 19th. Finally, Wedbush raised Caterpillar to an "outperform" rating in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $365.87.

Insider Buying and Selling

In other Caterpillar news, insider Jason Kaiser sold 2,425 shares of Caterpillar stock in a transaction on 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 $2,225,742.50. The trade was a 27.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 45,182 shares of the company's stock, valued at $17,173,226.38. The trade was a 18.12 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by company insiders.

Caterpillar Trading Up 1.1 %

Shares of NYSE CAT traded up $3.39 during trading on Tuesday, reaching $301.51. The company had a trading volume of 274,021 shares, compared to its average volume of 2,620,356. 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 12 month low of $267.30 and a 12 month high of $418.50. The company's fifty day moving average price is $332.75 and its 200-day moving average price is $366.35. The stock has a market cap of $144.10 billion, a P/E ratio of 13.63, a PEG ratio of 1.87 and a beta of 1.21.

Caterpillar (NYSE:CAT - Get Free Report) last released its earnings results 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 return on equity of 58.18% and a net margin of 16.65%. As a group, research analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Dividend Announcement

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 issued a $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 1.87%. The ex-dividend date is Monday, April 21st. Caterpillar's dividend payout ratio is currently 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.