Meridian Wealth Management LLC Decreases Stock Position in Caterpillar Inc. $CAT

Meridian Wealth Management LLC lessened its position in Caterpillar Inc. (NYSE:CAT) by 4.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,278 shares of the industrial products company’s stock after selling 1,685 shares during the quarter. Caterpillar comprises 0.7% of Meridian Wealth Management LLC’s holdings, making the stock its 25th largest position. Meridian Wealth Management LLC’s holdings in Caterpillar were worth $20,783,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Washington Trust Bank lifted its position in shares of Caterpillar by 4.8% in the fourth quarter. Washington Trust Bank now owns 997 shares of the industrial products company’s stock valued at $571,000 after acquiring an additional 46 shares in the last quarter. Bailard Inc. lifted its position in shares of Caterpillar by 2.0% in the fourth quarter. Bailard Inc. now owns 19,655 shares of the industrial products company’s stock valued at $11,260,000 after acquiring an additional 379 shares in the last quarter. Tsfg LLC lifted its position in shares of Caterpillar by 15.0% in the fourth quarter. Tsfg LLC now owns 292 shares of the industrial products company’s stock valued at $167,000 after acquiring an additional 38 shares in the last quarter. HORAN Wealth LLC increased its holdings in shares of Caterpillar by 37.3% in the fourth quarter. HORAN Wealth LLC now owns 1,405 shares of the industrial products company’s stock valued at $805,000 after purchasing an additional 382 shares during the last quarter. Finally, KLCM Advisors Inc. increased its holdings in shares of Caterpillar by 188.5% in the fourth quarter. KLCM Advisors Inc. now owns 8,125 shares of the industrial products company’s stock valued at $4,655,000 after purchasing an additional 5,309 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CAT shares. Argus increased their price target on Caterpillar from $820.00 to $990.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Robert W. Baird increased their price target on Caterpillar from $940.00 to $1,165.00 and gave the company an “outperform” rating in a report on Friday, May 1st. Truist Financial set a $1,043.00 price target on Caterpillar in a report on Friday, May 1st. Citigroup increased their price target on Caterpillar from $905.00 to $1,020.00 and gave the company a “buy” rating in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. increased their price target on Caterpillar from $860.00 to $1,125.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Sixteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $911.77.

Insider Buying and Selling at Caterpillar

In other news, insider Lange Bob De sold 24,222 shares of the firm’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $922.92, for a total transaction of $22,354,968.24. Following the completion of the transaction, the insider directly owned 86,029 shares in the company, valued at $79,397,884.68. This trade represents a 21.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jason Kaiser sold 5,642 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $883.03, for a total value of $4,982,055.26. Following the transaction, the insider owned 9,594 shares of the company’s stock, valued at approximately $8,471,789.82. This represents a 37.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 75,734 shares of company stock valued at $67,054,613. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Trading Up 3.1%

CAT opened at $925.54 on Tuesday. Caterpillar Inc. has a 52 week low of $336.24 and a 52 week high of $931.35. The business has a fifty day simple moving average of $761.80 and a 200-day simple moving average of $670.30. The firm has a market cap of $426.30 billion, a P/E ratio of 46.07, a P/E/G ratio of 1.80 and a beta of 1.63. The company has a quick ratio of 0.81, a current ratio of 1.35 and a debt-to-equity ratio of 1.64.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Thursday, April 30th. The industrial products company reported $5.54 EPS for the quarter, topping 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 business had revenue of $17.42 billion during the quarter, compared to analyst estimates of $16.53 billion. During the same period last year, the business posted $4.25 earnings per share. The company’s quarterly revenue was up 22.2% on a year-over-year basis. On average, equities analysts expect that Caterpillar Inc. will post 24.21 earnings per share for the current year.

Caterpillar Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 19th. Stockholders of record on Monday, April 20th will be given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Monday, April 20th. Caterpillar’s dividend payout ratio (DPR) is currently 30.06%.

About Caterpillar

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.