Caterpillar Inc. (NYSE:CAT) Shares Sold by Naples Global Advisors LLC

Naples Global Advisors LLC trimmed its stake in Caterpillar Inc. (NYSE:CAT) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,849 shares of the industrial products company’s stock after selling 204 shares during the quarter. Naples Global Advisors LLC’s holdings in Caterpillar were worth $3,573,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Retirement Wealth Solutions LLC acquired a new position in Caterpillar during the fourth quarter valued at approximately $34,000. Capital Performance Advisors LLP purchased a new position in Caterpillar in the 3rd quarter worth approximately $36,000. Albion Financial Group UT raised its stake in shares of Caterpillar by 334.8% during the fourth quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 77 shares during the period. Kimelman & Baird LLC lifted its holdings in Caterpillar by 42.9% in the 3rd quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock worth $39,000 after buying an additional 30 shares in the last quarter. Finally, Trivant Custom Portfolio Group LLC increased its position in shares of Caterpillar by 130.0% in 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 during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Trading Down 2.8 %

NYSE:CAT opened at $352.10 on Thursday. Caterpillar Inc. has a 1-year low of $307.05 and a 1-year high of $418.50. The stock has a fifty day simple moving average of $375.07 and a 200 day simple moving average of $371.95. The firm has a market capitalization of $169.99 billion, a price-to-earnings ratio of 15.95, a price-to-earnings-growth ratio of 1.94 and a beta of 1.12. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $5.14 earnings per share for the quarter, topping the consensus estimate of $4.97 by $0.17. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. Sell-side analysts forecast that Caterpillar Inc. will post 20.05 earnings per share for the current year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Tuesday, January 21st will be given a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date is Tuesday, January 21st. Caterpillar’s dividend payout ratio (DPR) is 25.56%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Evercore ISI raised Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 target price for the company in a report on Monday, January 13th. Truist Financial reduced their price target on Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Morgan Stanley lowered their price target on Caterpillar from $330.00 to $300.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. UBS Group upgraded shares of Caterpillar from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $355.00 to $385.00 in a research note on Monday, February 3rd. Finally, Citigroup raised their target price on shares of Caterpillar from $420.00 to $430.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Caterpillar presently has an average rating of “Hold” and a consensus target price of $383.13.

Insider Buying and Selling

In related news, Director Gerald Johnson purchased 100 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were acquired at an average cost of $398.57 per share, with a total value of $39,857.00. Following the completion of the purchase, the director now owns 2,953 shares of the company’s stock, valued at $1,176,977.21. The trade was a 3.51 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Anthony D. Fassino sold 6,279 shares of Caterpillar stock in a transaction on Friday, November 29th. The shares were sold at an average price of $408.59, for a total value of $2,565,536.61. Following the sale, the insider now directly owns 33,565 shares of the company’s stock, valued at approximately $13,714,323.35. The trade was a 15.76 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by corporate insiders.

About Caterpillar

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.