CCM Investment Advisers LLC Lowers Stock Position in Caterpillar Inc. (NYSE:CAT)

CCM Investment Advisers LLC trimmed its position in shares of Caterpillar Inc. (NYSE:CAT) by 4.9% during the fourth quarter, Holdings Channel reports. The firm owned 56,776 shares of the industrial products company’s stock after selling 2,930 shares during the quarter. Caterpillar makes up approximately 2.3% of CCM Investment Advisers LLC’s portfolio, making the stock its 13th biggest holding. CCM Investment Advisers LLC’s holdings in Caterpillar were worth $20,596,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC boosted its position in Caterpillar by 39,534.0% in the 3rd quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock valued at $8,356,930,000 after buying an additional 2,131,276 shares during the period. Altshuler Shaham Ltd grew its stake in Caterpillar by 3,319.7% during the 2nd quarter. Altshuler Shaham Ltd now owns 275,011 shares of the industrial products company’s stock worth $91,606,000 after purchasing an additional 266,969 shares in the last quarter. Zurich Insurance Group Ltd FI increased its holdings in Caterpillar by 4,018.6% during the 3rd quarter. Zurich Insurance Group Ltd FI now owns 255,355 shares of the industrial products company’s stock worth $99,874,000 after purchasing an additional 249,155 shares during the period. Fisher Asset Management LLC raised its position in Caterpillar by 2.3% in the 3rd quarter. Fisher Asset Management LLC now owns 8,952,632 shares of the industrial products company’s stock valued at $3,501,554,000 after purchasing an additional 205,012 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Caterpillar by 34.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 782,133 shares of the industrial products company’s stock valued at $305,908,000 after buying an additional 200,210 shares during the period. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Stock Performance

NYSE:CAT traded down $10.35 during midday trading on Friday, reaching $350.72. The stock had a trading volume of 1,045,783 shares, compared to its average volume of 1,528,154. The stock has a market cap of $169.33 billion, a P/E ratio of 16.26, a P/E/G ratio of 1.92 and a beta of 1.13. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. Caterpillar Inc. has a 12-month low of $276.94 and a 12-month high of $418.50. The firm has a fifty day simple moving average of $382.73 and a two-hundred day simple moving average of $365.00.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The firm had revenue of $16.11 billion for the quarter, compared to analyst estimates of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The company’s revenue was down 4.2% compared to the same quarter last year. During the same quarter last year, the firm earned $5.52 earnings per share. On average, equities analysts expect that Caterpillar Inc. will post 21.68 EPS for the current year.

Caterpillar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Tuesday, January 21st will be paid a dividend of $1.41 per share. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.61%. Caterpillar’s dividend payout ratio (DPR) is presently 26.15%.

Wall Street Analyst Weigh In

CAT has been the topic of several analyst reports. Citigroup raised their target price on shares of Caterpillar from $435.00 to $460.00 and gave the company a “buy” rating in a report on Monday, December 9th. Truist Financial lifted their price objective on shares of Caterpillar from $454.00 to $471.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. increased their target price on Caterpillar from $500.00 to $515.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Bank of America upped their price objective on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Finally, Evercore ISI lowered Caterpillar from an “in-line” rating to an “underperform” rating and raised their target price for the stock from $321.00 to $365.00 in a research report on Wednesday, November 13th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $384.33.

Insider Buying and Selling at Caterpillar

In related news, insider Cheryl H. Johnson sold 2,664 shares of Caterpillar stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $378.84, for a total transaction of $1,009,229.76. Following the completion of the transaction, the insider now directly owns 12,951 shares in the company, valued at $4,906,356.84. The trade was a 17.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gerald Johnson purchased 100 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 2,953 shares of the company’s stock, valued at $1,176,977.21. This represents a 3.51 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders sold 23,868 shares of company stock valued at $9,679,489. Corporate insiders own 0.29% of the company’s stock.

Caterpillar Company 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.