Caterpillar Inc. (NYSE:CAT) Shares Sold by Palisade Asset Management LLC

Palisade Asset Management LLC lowered its position in shares of Caterpillar Inc. (NYSE:CAT) by 0.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 9,472 shares of the industrial products company’s stock after selling 48 shares during the quarter. Palisade Asset Management LLC’s holdings in Caterpillar were worth $2,801,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the stock. Simmons Bank lifted its position in Caterpillar by 3.3% in the 4th quarter. Simmons Bank now owns 37,687 shares of the industrial products company’s stock valued at $11,143,000 after purchasing an additional 1,196 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Caterpillar by 19.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,264,635 shares of the industrial products company’s stock valued at $947,875,000 after purchasing an additional 529,420 shares in the last quarter. Northern Financial Advisors Inc grew its position in Caterpillar by 6.5% in the 4th quarter. Northern Financial Advisors Inc now owns 5,196 shares of the industrial products company’s stock valued at $1,536,000 after buying an additional 319 shares in the last quarter. Apollon Wealth Management LLC lifted its stake in shares of Caterpillar by 53.6% in the 4th quarter. Apollon Wealth Management LLC now owns 21,674 shares of the industrial products company’s stock worth $6,408,000 after acquiring an additional 7,565 shares during the period. Finally, Lincoln National Corp grew its position in Caterpillar by 1.0% during the 4th quarter. Lincoln National Corp now owns 15,370 shares of the industrial products company’s stock worth $4,544,000 after purchasing an additional 145 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Stock Performance

Caterpillar stock traded down $0.50 during midday trading on Wednesday, hitting $344.50. The company’s stock had a trading volume of 2,238,352 shares, compared to its average volume of 2,490,448. The company has a 50-day moving average price of $352.57 and a two-hundred day moving average price of $304.94. Caterpillar Inc. has a 1-year low of $205.60 and a 1-year high of $382.01. The company has a market cap of $168.48 billion, a price-to-earnings ratio of 15.53, a PEG ratio of 1.44 and a beta of 1.19. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.35 and a quick ratio of 0.83.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data 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. The firm had revenue of $15.80 billion for the quarter, compared to the consensus estimate of $16.07 billion. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. As a group, sell-side analysts predict that Caterpillar Inc. will post 21.79 earnings per share for the current year.

Caterpillar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, April 22nd will be given a dividend of $1.30 per share. The ex-dividend date is Friday, April 19th. This represents a $5.20 annualized dividend and a dividend yield of 1.51%. Caterpillar’s dividend payout ratio is currently 23.48%.

Analysts Set New Price Targets

CAT has been the topic of several recent analyst reports. The Goldman Sachs Group upped their price target on Caterpillar from $357.00 to $408.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Robert W. Baird raised their target price on Caterpillar from $210.00 to $257.00 and gave the company an “underperform” rating in a report on Tuesday, February 6th. JPMorgan Chase & Co. lifted their price target on shares of Caterpillar from $385.00 to $435.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. Stifel Nicolaus cut Caterpillar from a “buy” rating to a “hold” rating and increased their target price for the stock from $293.00 to $350.00 in a report on Friday, April 26th. Finally, HSBC upped their price target on shares of Caterpillar from $330.00 to $360.00 and gave the stock a “hold” rating in a research report on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $323.35.

Insider Activity at Caterpillar

In other news, insider Anthony D. Fassino sold 4,575 shares of the stock in a transaction 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 transaction, the insider now directly owns 23,474 shares in the company, valued at approximately $7,741,725.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Caterpillar news, Director David Maclennan acquired 500 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were purchased at an average cost of $337.39 per share, with a total value of $168,695.00. Following the completion of the purchase, the director now owns 5,738 shares of the company’s stock, valued at $1,935,943.82. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Anthony D. Fassino sold 4,575 shares of Caterpillar stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $329.80, for a total value of $1,508,835.00. Following the transaction, the insider now directly owns 23,474 shares in the company, valued at approximately $7,741,725.20. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by insiders.

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.