Cannell & Co. Has $6.86 Million Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Cannell & Co. decreased its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 18.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,204 shares of the industrial products company’s stock after selling 5,133 shares during the period. Cannell & Co.’s holdings in Caterpillar were worth $6,861,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of CAT. Gilfoyle & Co LLC bought a new stake in shares of Caterpillar in the 4th quarter worth $30,000. Fortitude Family Office LLC bought a new stake in shares of Caterpillar in the 4th quarter worth $39,000. Authentikos Wealth Advisory LLC bought a new stake in shares of Caterpillar in the 3rd quarter worth $41,000. Rational Advisors LLC bought a new position in Caterpillar during the third quarter valued at about $42,000. Finally, Milestone Investment Advisors LLC bought a new position in Caterpillar during the third quarter valued at about $44,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CAT shares. Oppenheimer restated a “market perform” rating on shares of Caterpillar in a research report on Thursday, April 18th. The Goldman Sachs Group increased their price target on shares of Caterpillar from $357.00 to $408.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Stifel Nicolaus lowered shares of Caterpillar from a “buy” rating to a “hold” rating and increased their price target for the company from $293.00 to $350.00 in a research report on Friday, April 26th. HSBC increased their price target on shares of Caterpillar from $330.00 to $360.00 and gave the company a “hold” rating in a research report on Tuesday. Finally, Evercore ISI lowered shares of Caterpillar from an “outperform” rating to an “in-line” rating and increased their price target for the company from $321.00 to $338.00 in a research report on Tuesday, February 20th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $323.35.

Insider Transactions at Caterpillar

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $310.10, for a total value of $3,101,000.00. Following the sale, the chief financial officer now directly owns 57,317 shares of the company’s stock, valued at $17,774,001.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $310.10, for a total value of $3,101,000.00. Following the sale, the chief financial officer now directly owns 57,317 shares of the company’s stock, valued at $17,774,001.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lange Bob De sold 21,194 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $325.52, for a total transaction of $6,899,070.88. Following the completion of the sale, the insider now directly owns 61,092 shares in the company, valued at $19,886,667.84. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,769 shares of company stock valued at $11,508,906. 0.33% of the stock is currently owned by corporate insiders.

Caterpillar Trading Down 1.0 %

Shares of Caterpillar stock opened at $331.07 on Thursday. Caterpillar Inc. has a 12-month low of $205.60 and a 12-month high of $382.01. The company has a market cap of $161.91 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 1.44 and a beta of 1.19. The company has a current ratio of 1.35, a quick ratio of 0.83 and a debt-to-equity ratio of 1.41. The company’s 50-day moving average price is $351.36 and its 200-day moving average price is $302.43.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Thursday, April 25th. The industrial products company reported $5.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.12 by $0.48. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. The firm had revenue of $15.80 billion for the quarter, compared to the consensus estimate of $16.07 billion. On average, equities analysts expect that Caterpillar Inc. will post 21.6 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, April 22nd will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Friday, April 19th. Caterpillar’s payout ratio is 23.48%.

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.