Caterpillar Inc. (NYSE:CAT) Stake Lowered by New York State Teachers Retirement System

New York State Teachers Retirement System cut its holdings in Caterpillar Inc. (NYSE:CAT) by 5.7% in the fourth quarter, HoldingsChannel reports. The firm owned 446,910 shares of the industrial products company’s stock after selling 27,131 shares during the period. New York State Teachers Retirement System’s holdings in Caterpillar were worth $162,121,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. FSM Wealth Advisors LLC boosted its position in shares of Caterpillar by 3.8% during the 4th quarter. FSM Wealth Advisors LLC now owns 688 shares of the industrial products company’s stock worth $262,000 after acquiring an additional 25 shares in the last quarter. Smallwood Wealth Investment Management LLC lifted its stake in Caterpillar by 2.6% in the 3rd quarter. Smallwood Wealth Investment Management LLC now owns 1,037 shares of the industrial products company’s stock valued at $405,000 after purchasing an additional 26 shares during the last quarter. Allen Capital Group LLC lifted its stake in Caterpillar by 0.6% in the 4th quarter. Allen Capital Group LLC now owns 4,247 shares of the industrial products company’s stock valued at $1,541,000 after purchasing an additional 26 shares during the last quarter. Wagner Wealth Management LLC lifted its stake in Caterpillar by 4.0% in the 4th quarter. Wagner Wealth Management LLC now owns 668 shares of the industrial products company’s stock valued at $242,000 after purchasing an additional 26 shares during the last quarter. Finally, First Bank & Trust lifted its stake in Caterpillar by 4.0% in the 3rd quarter. First Bank & Trust now owns 709 shares of the industrial products company’s stock valued at $277,000 after purchasing an additional 27 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Trading Up 0.5 %

NYSE:CAT opened at $353.97 on Friday. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40. The stock has a market capitalization of $170.90 billion, a price-to-earnings ratio of 16.04, a PEG ratio of 1.94 and a beta of 1.12. The firm has a fifty day simple moving average of $374.12 and a two-hundred day simple moving average of $371.81. Caterpillar Inc. has a 12 month low of $307.05 and a 12 month high of $418.50.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 EPS for the quarter, topping 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Tuesday, January 21st will be issued a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date is Tuesday, January 21st. Caterpillar’s dividend payout ratio is currently 25.56%.

Insider Activity

In other news, Director Gerald Johnson purchased 100 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were bought at an average cost of $398.57 per share, with a total value of $39,857.00. Following the completion of the transaction, the director now directly owns 2,953 shares of the company’s stock, valued at approximately $1,176,977.21. This trade represents a 3.51 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 45,182 shares in the company, 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. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

CAT has been the subject of several research reports. Citigroup increased their price objective 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. Robert W. Baird raised their price target on shares of Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research note on Thursday, October 31st. Bank of America dropped their price target on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Truist Financial dropped their price target on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. dropped their price target on shares of Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $383.13.

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.