National Pension Service Sells 99,501 Shares of Caterpillar Inc. (NYSE:CAT)

National Pension Service cut its stake in shares of Caterpillar Inc. (NYSE:CAT) by 9.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 922,596 shares of the industrial products company’s stock after selling 99,501 shares during the quarter. National Pension Service’s holdings in Caterpillar were worth $334,681,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in CAT. FSM Wealth Advisors LLC raised its holdings in shares of Caterpillar by 3.8% in 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 during the last quarter. Allen Capital Group LLC raised its position in Caterpillar by 0.6% during the fourth 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 in the last quarter. Wagner Wealth Management LLC grew its position in Caterpillar by 4.0% during the 4th quarter. Wagner Wealth Management LLC now owns 668 shares of the industrial products company’s stock worth $242,000 after acquiring an additional 26 shares during the last quarter. Washington Trust Bank increased its holdings in Caterpillar by 1.2% during the 3rd quarter. Washington Trust Bank now owns 2,349 shares of the industrial products company’s stock valued at $919,000 after purchasing an additional 27 shares during the period. Finally, Channel Wealth LLC grew its stake in Caterpillar by 1.9% in the fourth quarter. Channel Wealth LLC now owns 1,468 shares of the industrial products company’s stock worth $533,000 after purchasing an additional 27 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Citigroup raised their price target on Caterpillar from $420.00 to $430.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Evercore ISI lifted their price target on Caterpillar from $365.00 to $375.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 19th. Truist Financial reduced their price objective on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. DA Davidson upped their price target on shares of Caterpillar from $350.00 to $357.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Finally, Robert W. Baird increased their price target on Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $383.80.

Insider Activity at Caterpillar

In related news, insider Jason Kaiser sold 2,425 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total value of $860,147.50. Following the completion of the sale, the insider now directly owns 6,275 shares in the company, valued at approximately $2,225,742.50. The trade was a 27.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was 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 approximately $17,173,226.38. This trade represents a 18.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,704 shares of company stock valued at $7,226,584. Company insiders own 0.29% of the company’s stock.

Caterpillar Price Performance

CAT opened at $342.37 on Wednesday. Caterpillar Inc. has a 52-week low of $307.05 and a 52-week high of $418.50. The company has a market cap of $163.63 billion, a P/E ratio of 15.51, a P/E/G ratio of 1.87 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. The company has a 50 day moving average of $367.25 and a two-hundred day moving average of $373.10.

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 return on equity of 58.18% and a net margin of 16.65%. On average, analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st were paid a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend was Tuesday, January 21st. Caterpillar’s dividend payout ratio is presently 25.56%.

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.