Choreo LLC decreased its holdings in shares of Caterpillar Inc. (NYSE:CAT – Free Report) by 0.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 27,164 shares of the industrial products company’s stock after selling 252 shares during the period. Choreo LLC’s holdings in Caterpillar were worth $9,857,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of CAT. Nordea Investment Management AB raised its stake in shares of Caterpillar by 1.6% in the fourth quarter. Nordea Investment Management AB now owns 635,750 shares of the industrial products company’s stock valued at $231,686,000 after acquiring an additional 10,212 shares during the period. West Wealth Group LLC purchased a new stake in shares of Caterpillar in the fourth quarter valued at $230,000. Alpha Cubed Investments LLC raised its stake in shares of Caterpillar by 5.6% in the third quarter. Alpha Cubed Investments LLC now owns 116,566 shares of the industrial products company’s stock valued at $45,591,000 after acquiring an additional 6,212 shares during the period. Citizens Financial Group Inc. RI raised its stake in shares of Caterpillar by 43.0% in the third quarter. Citizens Financial Group Inc. RI now owns 13,902 shares of the industrial products company’s stock valued at $5,437,000 after acquiring an additional 4,181 shares during the period. Finally, Cadinha & Co. LLC purchased a new stake in shares of Caterpillar in the fourth quarter valued at $11,084,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.
Insider Activity at Caterpillar
In related news, insider Lange Bob De sold 12,657 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $410.25, for a total value of $5,192,534.25. Following the completion of the transaction, the insider now directly owns 71,107 shares of the company’s stock, valued at $29,171,646.75. This trade represents a 15.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were 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 directly owns 45,182 shares of the company’s stock, valued at $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. Insiders sold 28,936 shares of company stock valued at $11,558,971 in the last three months. 0.29% of the stock is owned by insiders.
Caterpillar Stock Up 0.2 %
Caterpillar (NYSE:CAT – Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share 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%. On average, equities analysts anticipate that Caterpillar Inc. will post 21.45 earnings per share for the current fiscal year.
Caterpillar Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Tuesday, January 21st will be issued a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Tuesday, January 21st. Caterpillar’s dividend payout ratio is currently 25.56%.
Analyst Ratings Changes
Several brokerages have recently weighed in on CAT. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. Citigroup raised their price target on shares of Caterpillar from $420.00 to $430.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. UBS Group raised shares of Caterpillar from a “sell” rating to a “neutral” rating and raised their price target for the stock from $355.00 to $385.00 in a research note on Monday. Morgan Stanley reduced their price target on shares of Caterpillar from $330.00 to $300.00 and set an “underweight” rating on the stock in a research note on Friday, January 31st. Finally, Robert W. Baird raised their price target on shares of Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Caterpillar currently has an average rating of “Hold” and a consensus price target of $379.50.
Read Our Latest Stock Report on CAT
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.
See Also
- Five stocks we like better than Caterpillar
- How to Plot Fibonacci Price Inflection Levels
- Market Volatility Creates Opportunity in These 3 Value Stocks
- What is Insider Trading? What You Can Learn from Insider Trading
- Visa and Mastercard Remain Strong Plays as Consumers Keep Swiping
- The Most Important Warren Buffett Stock for Investors: His Own
- 2 High-Yield Consumer Staples Stocks Ready to Deliver Big Returns
Want to see what other hedge funds are holding CAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Caterpillar Inc. (NYSE:CAT – Free Report).
Receive News & Ratings for Caterpillar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar and related companies with MarketBeat.com's FREE daily email newsletter.