Caterpillar Inc. (NYSE:CAT) Shares Sold by Avity Investment Management Inc.

Avity Investment Management Inc. lessened its stake in shares of Caterpillar Inc. (NYSE:CAT) by 4.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,125 shares of the industrial products company’s stock after selling 50 shares during the quarter. Avity Investment Management Inc.’s holdings in Caterpillar were worth $408,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quantbot Technologies LP bought a new position in Caterpillar during the second quarter valued at about $2,733,000. One Capital Management LLC lifted its holdings in Caterpillar by 173.0% in the 2nd quarter. One Capital Management LLC now owns 1,665 shares of the industrial products company’s stock valued at $555,000 after acquiring an additional 1,055 shares during the last quarter. Citizens Financial Group Inc. RI boosted its position in shares of Caterpillar by 50.2% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 9,721 shares of the industrial products company’s stock valued at $3,238,000 after purchasing an additional 3,251 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Caterpillar by 38.5% in the 2nd quarter. Renaissance Technologies LLC now owns 314,312 shares of the industrial products company’s stock worth $104,698,000 after purchasing an additional 87,312 shares during the last quarter. Finally, Luts & Greenleigh Group Inc. bought a new stake in shares of Caterpillar in the 2nd quarter worth approximately $279,000. Institutional investors own 70.98% of the company’s stock.

Caterpillar Trading Up 2.3 %

Shares of NYSE:CAT opened at $370.79 on Wednesday. Caterpillar Inc. has a 12-month low of $276.94 and a 12-month high of $418.50. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. The firm has a market capitalization of $179.02 billion, a P/E ratio of 17.19, a price-to-earnings-growth ratio of 1.88 and a beta of 1.13. The firm has a fifty day moving average of $381.63 and a two-hundred day moving average of $366.20.

Caterpillar (NYSE:CAT) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing the consensus estimate of $5.33 by ($0.16). The firm had revenue of $16.11 billion during 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 business’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period in the previous year, the company earned $5.52 earnings per share. On average, equities analysts expect that Caterpillar Inc. will post 21.68 EPS for the current fiscal year.

Caterpillar Dividend Announcement

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 annualized dividend and a yield of 1.52%. The ex-dividend date is Tuesday, January 21st. Caterpillar’s payout ratio is 26.15%.

Insider Transactions at Caterpillar

In other Caterpillar news, CAO William E. Schaupp sold 968 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $380.98, for a total transaction of $368,788.64. Following the completion of the sale, the chief accounting officer now owns 1,686 shares of the company’s stock, valued at $642,332.28. This represents a 36.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction, the insider now directly owns 33,565 shares in the company, valued at approximately $13,714,323.35. This represents a 15.76 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,868 shares of company stock worth $9,679,489. 0.29% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have issued reports on CAT. JPMorgan Chase & Co. lifted their price target on shares of Caterpillar from $500.00 to $515.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. StockNews.com cut Caterpillar from a “buy” rating to a “hold” rating in a report on Thursday, January 9th. Citigroup reduced their target price on Caterpillar from $460.00 to $420.00 and set a “buy” rating for the company in a report on Tuesday. Robert W. Baird increased their price target on Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research report on Thursday, October 31st. Finally, Bank of America boosted their price objective on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Caterpillar has an average rating of “Hold” and a consensus target price of $381.67.

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.