Los Angeles Capital Management LLC Sells 41,624 Shares of Caterpillar Inc. $CAT

Los Angeles Capital Management LLC cut its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 81.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,727 shares of the industrial products company’s stock after selling 41,624 shares during the period. Los Angeles Capital Management LLC’s holdings in Caterpillar were worth $5,672,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Tradition Wealth Management LLC lifted its holdings in Caterpillar by 1.2% during the fourth quarter. Tradition Wealth Management LLC now owns 2,574 shares of the industrial products company’s stock worth $1,475,000 after acquiring an additional 31 shares in the last quarter. DB&C Advisors LLC bought a new position in Caterpillar during the fourth quarter worth about $2,668,000. XML Financial LLC lifted its holdings in Caterpillar by 0.5% during the fourth quarter. XML Financial LLC now owns 5,077 shares of the industrial products company’s stock worth $2,908,000 after acquiring an additional 26 shares in the last quarter. 111 Capital bought a new position in Caterpillar during the fourth quarter worth about $650,000. Finally, Peachtree Investment Partners LLC lifted its holdings in Caterpillar by 94.7% during the fourth quarter. Peachtree Investment Partners LLC now owns 1,036 shares of the industrial products company’s stock worth $594,000 after acquiring an additional 504 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Stock Performance

CAT opened at $915.27 on Tuesday. The business’s 50-day moving average price is $836.25 and its two-hundred day moving average price is $718.16. Caterpillar Inc. has a 1 year low of $353.92 and a 1 year high of $946.83. The company has a market capitalization of $421.57 billion, a price-to-earnings ratio of 45.56, a P/E/G ratio of 1.78 and a beta of 1.59. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 0.81.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Thursday, April 30th. The industrial products company reported $5.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.65 by $0.89. Caterpillar had a return on equity of 48.21% and a net margin of 13.33%.The firm had revenue of $17.42 billion for the quarter, compared to the consensus estimate of $16.53 billion. During the same quarter last year, the business posted $4.25 EPS. The company’s revenue for the quarter was up 22.2% on a year-over-year basis. Equities analysts expect that Caterpillar Inc. will post 24.68 EPS for the current fiscal year.

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 19th. Investors of record on Monday, April 20th were given a $1.51 dividend. The ex-dividend date of this dividend was Monday, April 20th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 0.7%. Caterpillar’s payout ratio is currently 30.06%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Evercore reiterated an “outperform” rating and set a $1,103.00 target price on shares of Caterpillar in a report on Monday, May 11th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Caterpillar in a report on Friday, May 8th. Bank of America lifted their target price on Caterpillar from $930.00 to $989.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Jefferies Financial Group lifted their price target on Caterpillar from $900.00 to $1,045.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Finally, Truist Financial set a $1,043.00 price target on Caterpillar in a research note on Friday, May 1st. Sixteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $933.27.

Insiders Place Their Bets

In related news, CAO William E. Schaupp sold 360 shares of Caterpillar stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $906.00, for a total value of $326,160.00. Following the sale, the chief accounting officer owned 530 shares of the company’s stock, valued at approximately $480,180. The trade was a 40.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Andrew R. J. Bonfield sold 15,674 shares of Caterpillar stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $918.71, for a total value of $14,399,860.54. Following the completion of the sale, the chief financial officer directly owned 52,935 shares in the company, valued at approximately $48,631,913.85. This represents a 22.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 95,773 shares of company stock valued at $87,642,635 in the last quarter. 0.33% of the stock is currently owned by corporate insiders.

Caterpillar Company Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off?highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.