Caterpillar Inc. (NYSE:CAT) Stake Cut by Graypoint LLC

Graypoint LLC trimmed its stake in Caterpillar Inc. (NYSE:CAT) by 1.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 11,015 shares of the industrial products company’s stock after selling 116 shares during the quarter. Graypoint LLC’s holdings in Caterpillar were worth $3,257,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Baystate Wealth Management LLC lifted its stake in Caterpillar by 36.7% in the fourth quarter. Baystate Wealth Management LLC now owns 1,200 shares of the industrial products company’s stock valued at $355,000 after buying an additional 322 shares during the last quarter. MRP Capital Investments LLC acquired a new position in Caterpillar during the fourth quarter worth about $380,000. ORG Partners LLC grew its holdings in Caterpillar by 55.7% during the fourth quarter. ORG Partners LLC now owns 4,488 shares of the industrial products company’s stock worth $1,327,000 after acquiring an additional 1,606 shares during the period. Seascape Capital Management acquired a new position in Caterpillar during the fourth quarter worth about $3,945,000. Finally, Highview Capital Management LLC DE grew its holdings in Caterpillar by 31.3% during the fourth quarter. Highview Capital Management LLC DE now owns 1,260 shares of the industrial products company’s stock worth $373,000 after acquiring an additional 300 shares during the period. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Stock Performance

CAT opened at $365.63 on Friday. The stock has a market cap of $182.60 billion, a PE ratio of 18.15, a P/E/G ratio of 1.63 and a beta of 1.17. The company has a current ratio of 1.35, a quick ratio of 0.87 and a debt-to-equity ratio of 1.25. Caterpillar Inc. has a 1 year low of $204.04 and a 1 year high of $382.01. The stock’s 50 day simple moving average is $342.95 and its 200-day simple moving average is $294.97.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Monday, February 5th. The industrial products company reported $5.23 earnings per share for the quarter, beating analysts’ consensus estimates of $4.76 by $0.47. Caterpillar had a return on equity of 56.99% and a net margin of 15.41%. The firm had revenue of $17.07 billion for the quarter, compared to analysts’ expectations of $17.06 billion. During the same period in the prior year, the business posted $3.86 earnings per share. The business’s revenue was up 2.8% compared to the same quarter last year. Sell-side analysts forecast that Caterpillar Inc. will post 21.33 EPS for the current year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, April 22nd will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date is Friday, April 19th. Caterpillar’s dividend payout ratio (DPR) is 25.82%.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $310.10, for a total value of $3,101,000.00. Following the transaction, the chief financial officer now owns 57,317 shares of the company’s stock, valued at $17,774,001.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Caterpillar news, insider Lange Bob De sold 21,194 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $325.52, for a total value of $6,899,070.88. Following the transaction, the insider now owns 61,092 shares of the company’s stock, valued at $19,886,667.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $310.10, for a total value of $3,101,000.00. Following the completion of the transaction, the chief financial officer now directly owns 57,317 shares in the company, valued at approximately $17,774,001.70. The disclosure for this sale can be found here. Insiders have sold 45,769 shares of company stock worth $14,509,306 over the last three months. Company insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

CAT has been the subject of several research reports. Stifel Nicolaus lifted their price target on Caterpillar from $285.00 to $293.00 and gave the company a “buy” rating in a report on Tuesday, December 19th. TD Cowen boosted their target price on Caterpillar from $300.00 to $338.00 and gave the stock an “outperform” rating in a report on Tuesday, February 6th. Sanford C. Bernstein boosted their target price on Caterpillar from $216.00 to $245.00 and gave the stock a “market perform” rating in a report on Thursday, December 21st. Truist Financial initiated coverage on Caterpillar in a report on Thursday, March 14th. They issued a “buy” rating and a $390.00 target price for the company. Finally, Evercore ISI downgraded Caterpillar from an “outperform” rating to an “in-line” rating and lifted their price target for the stock from $321.00 to $338.00 in a research report on Tuesday, February 20th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $301.94.

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.