Victory Capital Management Inc. Reduces Position in Caterpillar Inc. (NYSE:CAT)

Victory Capital Management Inc. decreased its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 25.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 482,895 shares of the industrial products company's stock after selling 167,586 shares during the period. Victory Capital Management Inc. owned about 0.10% of Caterpillar worth $175,175,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Nordea Investment Management AB lifted its stake in Caterpillar by 1.6% during 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 in the last quarter. West Wealth Group LLC acquired a new position in Caterpillar during the 4th quarter worth about $230,000. Citizens Financial Group Inc. RI lifted its stake in Caterpillar by 43.0% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 13,902 shares of the industrial products company's stock worth $5,437,000 after acquiring an additional 4,181 shares in the last quarter. Cadinha & Co. LLC acquired a new position in Caterpillar during 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 worth $8,414,000 after acquiring an additional 871 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

Caterpillar Stock Performance

NYSE:CAT traded up $9.96 during mid-day trading on Friday, reaching $350.97. 3,061,142 shares of the stock were exchanged, compared to its average volume of 2,503,377. The company has a 50 day simple moving average of $363.11 and a 200-day simple moving average of $372.57. The stock has a market capitalization of $167.74 billion, a P/E ratio of 15.90, a P/E/G ratio of 1.87 and a beta of 1.15. 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 1 year low of $307.05 and a 1 year high of $418.50.

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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 for the quarter, topping 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%. Analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st were given a dividend of $1.41 per share. The ex-dividend date of this dividend was Tuesday, January 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.61%. Caterpillar's payout ratio is 25.56%.

Analyst Upgrades and Downgrades

CAT has been the topic of several recent research reports. Raymond James upgraded Caterpillar from a "market perform" rating to an "outperform" rating in a report on Monday, February 3rd. Jefferies Financial Group upped their price target on Caterpillar from $455.00 to $475.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Bank of America cut their price target on Caterpillar from $452.00 to $414.00 and set a "buy" rating on the stock in a report on Friday, January 31st. StockNews.com downgraded Caterpillar from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Finally, DA Davidson increased their price objective on Caterpillar from $350.00 to $357.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Caterpillar has a consensus rating of "Hold" and a consensus target price of $383.80.

Insiders Place Their Bets

In other news, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $380.09, for a total value of $3,800,900.00. Following the completion of the sale, the chief financial officer now directly owns 45,182 shares of the company's stock, valued at $17,173,226.38. This trade represents a 18.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jason Kaiser sold 2,425 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were 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 directly owns 6,275 shares of the company's stock, valued at $2,225,742.50. This represents a 27.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is owned by 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.