Caterpillar Inc. (NYSE:CAT) Stake Lifted by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund lifted its stake in Caterpillar Inc. (NYSE:CAT) by 57.0% in the fourth quarter, HoldingsChannel reports. The firm owned 22,535 shares of the industrial products company’s stock after purchasing an additional 8,178 shares during the period. Caterpillar accounts for 0.7% of Kentucky Retirement Systems Insurance Trust Fund’s holdings, making the stock its 27th biggest position. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Caterpillar were worth $8,175,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Retirement Wealth Solutions LLC purchased a new stake in shares of Caterpillar during the 4th quarter worth about $34,000. Capital Performance Advisors LLP acquired a new position in Caterpillar in the third quarter worth approximately $36,000. Albion Financial Group UT raised its position in 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 acquiring an additional 77 shares in the last quarter. Kimelman & Baird LLC lifted its stake in Caterpillar by 42.9% in the third quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 30 shares during the last quarter. Finally, Trivant Custom Portfolio Group LLC grew its position in Caterpillar by 130.0% in the fourth quarter. Trivant Custom Portfolio Group LLC now owns 115 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insiders Place Their Bets

In other news, insider Anthony D. Fassino sold 6,279 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were 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 owns 33,565 shares in the company, valued at $13,714,323.35. This trade represents a 15.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gerald Johnson acquired 100 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was purchased at an average price of $398.57 per share, for a total transaction of $39,857.00. Following 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 disclosure for this purchase can be found here. Insiders own 0.29% of the company’s stock.

Caterpillar Trading Down 0.1 %

NYSE:CAT opened at $353.31 on Tuesday. The firm has a fifty day simple moving average of $372.47 and a two-hundred day simple moving average of $372.14. Caterpillar Inc. has a 12 month low of $307.05 and a 12 month high of $418.50. The stock has a market capitalization of $170.58 billion, a price-to-earnings ratio of 16.01, a PEG ratio of 1.94 and a beta of 1.12. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 EPS for the quarter, beating analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. Analysts expect that Caterpillar Inc. will post 20.05 EPS for the current fiscal year.

Caterpillar Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CAT shares. Bank of America cut their price objective on Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Evercore ISI upgraded shares of Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 price target on the stock in a research note on Monday, January 13th. JPMorgan Chase & Co. dropped their target price on Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a report on Friday, January 31st. UBS Group upgraded shares of Caterpillar from a “sell” rating to a “neutral” rating and lifted their target price for the company from $355.00 to $385.00 in a research note on Monday, February 3rd. Finally, DA Davidson upped their target price on shares of Caterpillar from $350.00 to $357.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $383.13.

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.