Investment Management of Virginia LLC reduced its stake in Caterpillar Inc. (NYSE:CAT) by 4.1% during the fourth quarter, HoldingsChannel reports. The firm owned 21,301 shares of the industrial products company’s stock after selling 909 shares during the period. Investment Management of Virginia LLC’s holdings in Caterpillar were worth $3,357,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CAT. Jennison Associates LLC raised its stake in Caterpillar by 126.5% in the fourth quarter. Jennison Associates LLC now owns 5,951,370 shares of the industrial products company’s stock valued at $937,817,000 after purchasing an additional 3,324,051 shares in the last quarter. Vanguard Group Inc. raised its stake in Caterpillar by 6.1% in the second quarter. Vanguard Group Inc. now owns 41,225,175 shares of the industrial products company’s stock valued at $4,430,058,000 after purchasing an additional 2,377,623 shares in the last quarter. FMR LLC raised its stake in Caterpillar by 11.7% in the second quarter. FMR LLC now owns 19,613,661 shares of the industrial products company’s stock valued at $2,107,684,000 after purchasing an additional 2,052,300 shares in the last quarter. Balyasny Asset Management LLC raised its stake in Caterpillar by 663.8% in the second quarter. Balyasny Asset Management LLC now owns 1,032,853 shares of the industrial products company’s stock valued at $110,990,000 after purchasing an additional 1,216,053 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in Caterpillar by 61.7% in the second quarter. Renaissance Technologies LLC now owns 2,501,100 shares of the industrial products company’s stock valued at $268,768,000 after purchasing an additional 954,200 shares in the last quarter. 69.25% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages recently weighed in on CAT. Citigroup raised their target price on shares of Caterpillar from $145.00 to $160.00 and gave the company a “neutral” rating in a research note on Thursday, December 21st. Vetr raised shares of Caterpillar from a “sell” rating to a “hold” rating and set a $131.05 target price on the stock in a research note on Thursday, October 19th. Argus raised their target price on shares of Caterpillar from $130.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, October 26th. Bank of America reaffirmed a “buy” rating and issued a $189.00 target price (up from $158.00) on shares of Caterpillar in a research note on Friday, January 12th. Finally, Credit Suisse Group increased their price target on shares of Caterpillar from $146.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, October 25th. One analyst has rated the stock with a sell rating, eight have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Caterpillar currently has a consensus rating of “Buy” and an average target price of $167.80.

In related news, insider Thomas A. Pellette sold 24,547 shares of Caterpillar stock in a transaction on Friday, November 17th. The shares were sold at an average price of $135.69, for a total value of $3,330,782.43. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Bradley M. Halverson sold 17,210 shares of Caterpillar stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $137.33, for a total transaction of $2,363,449.30. Following the completion of the sale, the chief financial officer now owns 7,814 shares in the company, valued at approximately $1,073,096.62. The disclosure for this sale can be found here. Insiders sold 143,331 shares of company stock worth $22,107,578 in the last 90 days. Company insiders own 0.14% of the company’s stock.

Caterpillar Inc. (NYSE CAT) opened at $149.21 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.35 and a debt-to-equity ratio of 1.73. Caterpillar Inc. has a fifty-two week low of $90.34 and a fifty-two week high of $173.24. The stock has a market cap of $86,854.37, a P/E ratio of 118.42, a PEG ratio of 1.56 and a beta of 1.23.

Caterpillar (NYSE:CAT) last issued its earnings results on Thursday, January 25th. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.39. Caterpillar had a net margin of 1.66% and a return on equity of 28.69%. The firm had revenue of $12.90 billion for the quarter, compared to analysts’ expectations of $12.01 billion. During the same quarter last year, the business earned $0.83 earnings per share. The business’s revenue was up 34.7% on a year-over-year basis. research analysts forecast that Caterpillar Inc. will post 9.05 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 20th. Stockholders of record on Monday, January 22nd will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.09%. The ex-dividend date is Friday, January 19th. Caterpillar’s dividend payout ratio is 247.62%.

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Caterpillar Company Profile

Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through segments, including Construction Industries, which is engaged in supporting customers using machinery in infrastructure, forestry and building construction; Resource Industries, which is engaged in supporting customers using machinery in mining, quarry, waste and material handling applications; Energy & Transportation, which supports customers in oil and gas, power generation, marine, rail and industrial applications, including Cat machines; Financial Products segment, which provides financing and related services, and All Other operating segments, which includes activities, such as product management and development, and manufacturing of filters and fluids, undercarriage, tires and rims, ground engaging tools, fluid transfer products, and sealing and connecting components for Cat products.

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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