Caterpillar Inc. (NYSE:CAT) Stake Lowered by SVB Wealth LLC

SVB Wealth LLC decreased its position in shares of Caterpillar Inc. (NYSE:CAT) by 1.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,891 shares of the industrial products company’s stock after selling 91 shares during the period. SVB Wealth LLC’s holdings in Caterpillar were worth $2,629,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BCK Partners Inc. bought a new position in Caterpillar during the first quarter valued at approximately $2,580,000. Sei Investments Co. raised its holdings in shares of Caterpillar by 17.3% during the 1st quarter. Sei Investments Co. now owns 65,643 shares of the industrial products company’s stock valued at $14,634,000 after purchasing an additional 9,695 shares in the last quarter. Dakota Wealth Management acquired a new stake in shares of Caterpillar in the 1st quarter valued at $405,000. Mather Group LLC. boosted its holdings in Caterpillar by 6.8% in the first quarter. Mather Group LLC. now owns 2,592 shares of the industrial products company’s stock worth $577,000 after purchasing an additional 165 shares in the last quarter. Finally, NewEdge Advisors LLC increased its position in Caterpillar by 4.4% during the first quarter. NewEdge Advisors LLC now owns 49,705 shares of the industrial products company’s stock worth $11,075,000 after buying an additional 2,076 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Transactions at Caterpillar

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $310.10, for a total transaction of $3,101,000.00. Following the completion of the sale, the chief financial officer now owns 57,317 shares in the company, valued at approximately $17,774,001.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $310.10, for a total value of $3,101,000.00. Following the completion of the sale, the chief financial officer now directly owns 57,317 shares of the company’s stock, valued at approximately $17,774,001.70. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Lange Bob De sold 21,194 shares of Caterpillar stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $325.52, for a total transaction of $6,899,070.88. Following the transaction, the insider now directly owns 61,092 shares in the company, valued at approximately $19,886,667.84. The disclosure for this sale can be found here. Insiders sold a total of 45,769 shares of company stock worth $14,509,306 in the last quarter. 0.33% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. TD Cowen upped their price target on Caterpillar from $300.00 to $338.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 6th. Truist Financial assumed coverage on Caterpillar in a report on Thursday, March 14th. They set a “buy” rating and a $390.00 price target on the stock. Evercore ISI cut shares of Caterpillar from an “outperform” rating to an “in-line” rating and boosted their price objective for the stock from $321.00 to $338.00 in a research note on Tuesday, February 20th. JPMorgan Chase & Co. raised their target price on shares of Caterpillar from $385.00 to $435.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, StockNews.com cut shares of Caterpillar from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Caterpillar currently has a consensus rating of “Hold” and an average target price of $307.56.

Caterpillar Trading Down 0.4 %

Shares of Caterpillar stock opened at $358.33 on Thursday. The company’s fifty day moving average price is $345.24 and its two-hundred day moving average price is $296.78. The firm has a market capitalization of $178.95 billion, a PE ratio of 17.79, a price-to-earnings-growth ratio of 1.60 and a beta of 1.17. Caterpillar Inc. has a 52-week low of $204.04 and a 52-week high of $382.01. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.35 and a quick ratio of 0.87.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Monday, February 5th. The industrial products company reported $5.23 EPS for the quarter, topping analysts’ consensus estimates of $4.76 by $0.47. Caterpillar had a net margin of 15.41% and a return on equity of 56.99%. The firm had revenue of $17.07 billion during the quarter, compared to analysts’ expectations of $17.06 billion. During the same quarter last year, the company earned $3.86 earnings per share. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, analysts expect that Caterpillar Inc. will post 21.33 EPS for the current year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, April 22nd will be issued 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 payout ratio is presently 25.82%.

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.