Caterpillar Inc. (NYSE:CAT) Shares Sold by Cigna Investments Inc. New

Cigna Investments Inc. New lessened its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 0.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,002 shares of the industrial products company’s stock after selling 30 shares during the quarter. Cigna Investments Inc. New’s holdings in Caterpillar were worth $1,814,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of CAT. FSM Wealth Advisors LLC grew its stake in shares of Caterpillar by 3.8% in the fourth quarter. FSM Wealth Advisors LLC now owns 688 shares of the industrial products company’s stock worth $262,000 after purchasing an additional 25 shares during the last quarter. Smallwood Wealth Investment Management LLC raised its holdings in shares of Caterpillar by 2.6% during the third 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 period. Allen Capital Group LLC raised its holdings in shares of Caterpillar by 0.6% in the 4th quarter. Allen Capital Group LLC now owns 4,247 shares of the industrial products company’s stock worth $1,541,000 after acquiring an additional 26 shares during the last quarter. Wagner Wealth Management LLC raised its holdings in shares of Caterpillar by 4.0% in 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. Finally, First Bank & Trust increased 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 buying an additional 27 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analyst Upgrades and Downgrades

CAT has been the subject of a number of research reports. Evercore ISI raised shares of Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 target price for the company in a research report on Monday, January 13th. Robert W. Baird increased their target price 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. Truist Financial lowered 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. Morgan Stanley decreased their target price on shares of Caterpillar from $330.00 to $300.00 and set an “underweight” rating on the stock in a research report on Friday, January 31st. Finally, Citigroup lifted their target price on shares of Caterpillar from $420.00 to $430.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $383.13.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Anthony D. Fassino sold 6,279 shares of Caterpillar 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 directly owns 33,565 shares in the company, valued at approximately $13,714,323.35. The trade was a 15.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Gerald Johnson bought 100 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was purchased at an average price of $398.57 per share, with a total value of $39,857.00. Following the completion of the purchase, the director now owns 2,953 shares in the company, valued at approximately $1,176,977.21. This trade represents a 3.51 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.29% of the company’s stock.

Caterpillar Price Performance

CAT stock opened at $363.11 on Tuesday. Caterpillar Inc. has a 52 week low of $307.05 and a 52 week high of $418.50. 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 fifty day simple moving average of $376.59 and a two-hundred day simple moving average of $371.73. The firm has a market capitalization of $175.31 billion, a P/E ratio of 16.45, a price-to-earnings-growth ratio of 1.94 and a beta of 1.12.

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

Caterpillar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st will be given a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend is Tuesday, January 21st. Caterpillar’s dividend payout ratio (DPR) is 25.56%.

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.