CANADA LIFE ASSURANCE Co Has $104.30 Million Position in Caterpillar Inc. (NYSE:CAT)

CANADA LIFE ASSURANCE Co cut its holdings in Caterpillar Inc. (NYSE:CAT) by 7.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 287,489 shares of the industrial products company’s stock after selling 23,665 shares during the quarter. CANADA LIFE ASSURANCE Co’s holdings in Caterpillar were worth $104,301,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in 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 worth $231,686,000 after acquiring an additional 10,212 shares during the last quarter. West Wealth Group LLC bought a new position in Caterpillar in the 4th quarter valued at $230,000. Cadinha & Co. LLC bought a new stake in shares of Caterpillar during the fourth quarter worth $11,084,000. Atomi Financial Group Inc. lifted its stake in shares of Caterpillar by 3.9% during the fourth quarter. Atomi Financial Group Inc. now owns 23,193 shares of the industrial products company’s stock valued at $8,414,000 after acquiring an additional 871 shares during the period. Finally, Copley Financial Group Inc. bought a new position in Caterpillar in the third quarter valued at about $800,000. 70.98% of the stock is owned by institutional investors.

Insider Activity at Caterpillar

In other news, Director Gerald Johnson bought 100 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was acquired at an average cost of $365.57 per share, for a total transaction of $36,557.00. Following the purchase, the director now owns 3,053 shares of the company’s stock, valued at approximately $1,116,085.21. This trade represents a 3.39 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 transaction, the insider now directly owns 6,275 shares in the company, valued at approximately $2,225,742.50. This trade represents a 27.87 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Truist Financial dropped their price objective on Caterpillar from $438.00 to $389.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Wedbush raised shares of Caterpillar to an “outperform” rating in a report on Monday, February 3rd. Raymond James raised Caterpillar from a “market perform” rating to an “outperform” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. reduced their target price on Caterpillar from $490.00 to $380.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Evercore ISI lifted their price objective on shares of Caterpillar from $365.00 to $375.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $361.64.

Caterpillar Stock Down 1.0 %

Shares of Caterpillar stock opened at $290.60 on Thursday. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $418.50. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42. The business’s 50 day simple moving average is $329.84 and its 200 day simple moving average is $365.33. The firm has a market cap of $138.89 billion, a PE ratio of 13.17, a P/E/G ratio of 1.87 and a beta of 1.21.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data 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%. On average, analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Monday, April 21st will be issued a dividend of $1.41 per share. The ex-dividend date of this dividend is Monday, April 21st. This represents a $5.64 annualized dividend and a yield of 1.94%. Caterpillar’s 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.