Accel Wealth Management trimmed its stake in shares of Caterpillar Inc. (NYSE:CAT – Free Report) by 4.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,021 shares of the industrial products company’s stock after selling 46 shares during the period. Accel Wealth Management’s holdings in Caterpillar were worth $371,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. AQR Capital Management LLC increased its position in Caterpillar by 39.1% during the second quarter. AQR Capital Management LLC now owns 255,605 shares of the industrial products company’s stock valued at $84,976,000 after acquiring an additional 71,788 shares during the last quarter. Deerfield Management Company L.P. Series C bought a new stake in shares of Caterpillar during the 2nd quarter valued at about $651,000. MBB Public Markets I LLC increased its position in shares of Caterpillar by 2,195.1% during the 2nd quarter. MBB Public Markets I LLC now owns 35,368 shares of the industrial products company’s stock valued at $11,781,000 after purchasing an additional 33,827 shares during the last quarter. Mackenzie Financial Corp lifted its stake in shares of Caterpillar by 2.6% in the 2nd quarter. Mackenzie Financial Corp now owns 178,960 shares of the industrial products company’s stock worth $59,612,000 after purchasing an additional 4,465 shares during the period. Finally, Legal & General Group Plc boosted its holdings in shares of Caterpillar by 2.0% in the second quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company’s stock worth $1,286,582,000 after buying an additional 75,973 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.
Caterpillar Stock Up 0.4 %
NYSE CAT opened at $407.95 on Friday. The stock has a 50 day moving average price of $380.59 and a 200-day moving average price of $368.65. Caterpillar Inc. has a one year low of $293.13 and a one year high of $418.50. The company has a market capitalization of $196.96 billion, a P/E ratio of 18.91, a P/E/G ratio of 1.97 and a beta of 1.13. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40.
Caterpillar Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Tuesday, January 21st will be paid a $1.41 dividend. This represents a $5.64 annualized dividend and a dividend yield of 1.38%. The ex-dividend date is Tuesday, January 21st. Caterpillar’s dividend payout ratio is currently 26.15%.
Analyst Upgrades and Downgrades
CAT has been the subject of a number of research reports. Jefferies Financial Group increased their price target on shares of Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. increased their target price on shares of Caterpillar from $500.00 to $515.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Truist Financial decreased their target price on shares of Caterpillar from $471.00 to $455.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. Finally, Morgan Stanley cut shares of Caterpillar from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $349.00 to $332.00 in a research note on Monday, October 14th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Caterpillar presently has an average rating of “Hold” and a consensus price target of $380.60.
Get Our Latest Research Report on CAT
Insider Transactions at Caterpillar
In other news, insider Anthony D. Fassino sold 6,279 shares of Caterpillar stock in a transaction on Friday, November 29th. The stock was sold at an average price of $408.59, for a total transaction of $2,565,536.61. Following the completion of the sale, the insider now directly owns 33,565 shares in the company, valued at approximately $13,714,323.35. This trade represents a 15.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the completion of the transaction, the chief financial officer now owns 45,182 shares in the company, valued at approximately $17,173,226.38. The trade was a 18.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,868 shares of company stock worth $13,480,389. 0.29% of the stock is currently owned by insiders.
Caterpillar 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.
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