Tennessee Valley Asset Management Partners Reduces Stock Position in Caterpillar Inc. (NYSE:CAT)

Tennessee Valley Asset Management Partners trimmed its position in Caterpillar Inc. (NYSE:CAT) by 14.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,246 shares of the industrial products company’s stock after selling 204 shares during the period. Tennessee Valley Asset Management Partners’ holdings in Caterpillar were worth $452,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Retirement Wealth Solutions LLC acquired a new position in shares of Caterpillar in the 4th quarter valued at $34,000. Capital Performance Advisors LLP purchased a new stake in Caterpillar during the third quarter valued at about $36,000. Albion Financial Group UT raised its holdings in shares of Caterpillar by 334.8% in the 4th quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 77 shares during the period. Kimelman & Baird LLC lifted its stake in shares of Caterpillar by 42.9% in the 3rd quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 30 shares in the last quarter. Finally, Trivant Custom Portfolio Group LLC increased its position in Caterpillar by 130.0% during the 4th quarter. Trivant Custom Portfolio Group LLC now owns 115 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 65 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CAT has been the subject of several analyst reports. Citigroup decreased their target price on Caterpillar from $460.00 to $420.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Truist Financial cut their price objective on shares of Caterpillar from $471.00 to $455.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Jefferies Financial Group raised their target price on Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a research note on Friday, December 6th. UBS Group boosted their price target on Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a research note on Monday, November 4th. Finally, Robert W. Baird raised their price objective on Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research note on Thursday, October 31st. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Caterpillar presently has an average rating of “Hold” and an average target price of $380.60.

Insider Buying and Selling at Caterpillar

In other news, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $380.09, for a total value of $3,800,900.00. Following the transaction, the chief financial officer now owns 45,182 shares of the company’s stock, valued at $17,173,226.38. The trade was a 18.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO William E. Schaupp sold 968 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $380.98, for a total transaction of $368,788.64. Following the sale, the chief accounting officer now directly owns 1,686 shares of the company’s stock, valued at approximately $642,332.28. This represents a 36.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,868 shares of company stock valued at $13,480,389. 0.29% of the stock is owned by corporate insiders.

Caterpillar Trading Up 0.4 %

Shares of CAT stock opened at $407.95 on Monday. Caterpillar Inc. has a 1 year low of $293.13 and a 1 year high of $418.50. The firm has a market capitalization of $196.96 billion, a PE ratio of 18.91, a price-to-earnings-growth ratio of 1.97 and a beta of 1.13. The stock has a fifty day moving average of $381.07 and a two-hundred day moving average of $369.50. 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 (NYSE:CAT) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing the consensus estimate of $5.33 by ($0.16). Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The company had revenue of $16.11 billion during the quarter, compared to analyst estimates of $16.37 billion. During the same period in the previous year, the company earned $5.52 EPS. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. As a group, research analysts expect that Caterpillar Inc. will post 21.69 EPS for the current year.

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st will be given a $1.41 dividend. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.38%. Caterpillar’s dividend payout ratio (DPR) is 26.15%.

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.