Caterpillar Inc. (NYSE:CAT) Shares Sold by Wealth Alliance

Wealth Alliance lessened its stake in shares of Caterpillar Inc. (NYSE:CAT) by 11.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,418 shares of the industrial products company’s stock after selling 186 shares during the quarter. Wealth Alliance’s holdings in Caterpillar were worth $419,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of CAT. Atlas Capital Advisors LLC lifted its stake in shares of Caterpillar by 272.4% in the first quarter. Atlas Capital Advisors LLC now owns 108 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 79 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Caterpillar by 730.8% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 108 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 95 shares in the last quarter. Gilfoyle & Co LLC acquired a new position in shares of Caterpillar in the fourth quarter worth about $30,000. A.P. Gilfoyle & Co. L.P. acquired a new stake in Caterpillar during the fourth quarter valued at approximately $30,000. Finally, First Capital Advisors Group LLC. acquired a new stake in Caterpillar during the second quarter valued at approximately $30,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on CAT shares. Wells Fargo & Company upped their price objective on Caterpillar from $290.00 to $325.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. Citigroup upped their price objective on Caterpillar from $255.00 to $340.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. Truist Financial initiated coverage on Caterpillar in a report on Thursday, March 14th. They set a “buy” rating and a $390.00 target price for the company. Morgan Stanley initiated coverage on Caterpillar in a report on Monday, January 8th. They set an “equal weight” rating and a $270.00 target price for the company. Finally, TD Cowen upped their target price on Caterpillar from $300.00 to $338.00 and gave the company an “outperform” rating in a report on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Caterpillar has a consensus rating of “Hold” and an average target price of $307.56.

Insider Activity

In related news, Director David Maclennan acquired 350 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was bought at an average price of $323.37 per share, for a total transaction of $113,179.50. Following the transaction, the director now owns 5,238 shares of the company’s stock, valued at $1,693,812.06. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 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 sale, the insider now owns 23,474 shares in the company, valued at $7,741,725.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Maclennan bought 350 shares of Caterpillar stock in a transaction dated Friday, February 23rd. The stock was acquired at an average price of $323.37 per share, with a total value of $113,179.50. Following the acquisition, the director now directly owns 5,238 shares of the company’s stock, valued at $1,693,812.06. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 45,769 shares of company stock worth $14,509,306. Insiders own 0.33% of the company’s stock.

Caterpillar Stock Performance

Shares of NYSE CAT opened at $358.33 on Thursday. The stock has a fifty day moving average price of $345.24 and a two-hundred day moving average price of $296.78. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.87 and a current ratio of 1.35. The firm has a market cap of $178.95 billion, a P/E ratio of 17.79, a PEG ratio of 1.60 and a beta of 1.17. Caterpillar Inc. has a 1 year low of $204.04 and a 1 year high of $382.01.

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

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.45%. Caterpillar’s dividend payout ratio (DPR) is presently 25.82%.

About Caterpillar

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.