Caterpillar Inc. (NYSE:CAT) Shares Sold by Lafayette Investments Inc.

Lafayette Investments Inc. trimmed its stake in shares of Caterpillar Inc. (NYSE:CAT) by 2.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,650 shares of the industrial products company’s stock after selling 50 shares during the quarter. Lafayette Investments Inc.’s holdings in Caterpillar were worth $488,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CAT. Atlas Capital Advisors LLC grew its stake in Caterpillar by 272.4% during the 1st quarter. Atlas Capital Advisors LLC now owns 108 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 79 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Caterpillar by 730.8% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 108 shares of the industrial products company’s stock worth $25,000 after buying an additional 95 shares during the last quarter. Gilfoyle & Co LLC purchased a new stake in Caterpillar during the 4th quarter worth about $30,000. A.P. Gilfoyle & Co. L.P. purchased a new stake in Caterpillar during the 4th quarter worth about $30,000. Finally, First Capital Advisors Group LLC. purchased a new stake in Caterpillar during the 2nd quarter worth about $30,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CAT. Truist Financial began coverage on Caterpillar in a report on Thursday, March 14th. They set a “buy” rating and a $390.00 price target for the company. Oppenheimer reaffirmed a “market perform” rating on shares of Caterpillar in a report on Thursday. Sanford C. Bernstein lifted their price target on Caterpillar from $216.00 to $245.00 and gave the stock a “market perform” rating in a report on Thursday, December 21st. Evercore ISI downgraded Caterpillar from an “outperform” rating to an “in-line” rating and boosted their target price for the company from $321.00 to $338.00 in a report on Tuesday, February 20th. Finally, Wells Fargo & Company boosted their target price on Caterpillar from $290.00 to $325.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $307.56.

Caterpillar Stock Performance

CAT traded up $0.83 on Friday, hitting $357.46. 761,042 shares of the company traded hands, compared to its average volume of 2,411,513. The company has a 50 day moving average of $345.95 and a 200-day moving average of $297.21. The company has a quick ratio of 0.87, a current ratio of 1.35 and a debt-to-equity ratio of 1.25. The stock has a market capitalization of $178.52 billion, a PE ratio of 17.77, a PEG ratio of 1.59 and a beta of 1.17. Caterpillar Inc. has a 12-month low of $204.04 and a 12-month high of $382.01.

Caterpillar (NYSE:CAT) last released its earnings results on Monday, February 5th. The industrial products company reported $5.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.76 by $0.47. Caterpillar had a return on equity of 56.99% and a net margin of 15.41%. The company had revenue of $17.07 billion for the quarter, compared to analysts’ expectations of $17.06 billion. During the same quarter in the previous year, the firm posted $3.86 EPS. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. Sell-side analysts anticipate that Caterpillar Inc. will post 21.4 earnings per share for the current year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, April 22nd will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 1.45%. The ex-dividend date is Friday, April 19th. Caterpillar’s payout ratio is 25.82%.

Insiders Place Their Bets

In other Caterpillar news, insider Anthony D. Fassino sold 4,575 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $329.80, for a total transaction of $1,508,835.00. Following the transaction, the insider now owns 23,474 shares in the company, valued at approximately $7,741,725.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $300.04, for a total value of $3,000,400.00. Following the sale, the chief financial officer now owns 67,317 shares in the company, valued at approximately $20,197,792.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Anthony D. Fassino sold 4,575 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $329.80, for a total value of $1,508,835.00. Following the completion of the sale, the insider now owns 23,474 shares in the company, valued at approximately $7,741,725.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,769 shares of company stock worth $14,509,306. Company insiders own 0.33% of the company’s stock.

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.