Raleigh Capital Management Inc. Lowers Holdings in Caterpillar Inc. (NYSE:CAT)

Raleigh Capital Management Inc. reduced its stake in shares of Caterpillar Inc. (NYSE:CAT) by 8.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,191 shares of the industrial products company’s stock after selling 299 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Caterpillar were worth $1,158,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Nordea Investment Management AB lifted its stake in shares of Caterpillar by 1.6% in the 4th quarter. Nordea Investment Management AB now owns 635,750 shares of the industrial products company’s stock valued at $231,686,000 after purchasing an additional 10,212 shares during the period. Alpha Cubed Investments LLC raised its position in shares of Caterpillar by 5.6% in the third quarter. Alpha Cubed Investments LLC now owns 116,566 shares of the industrial products company’s stock worth $45,591,000 after acquiring an additional 6,212 shares during the period. Citizens Financial Group Inc. RI boosted its stake in shares of Caterpillar by 43.0% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 13,902 shares of the industrial products company’s stock worth $5,437,000 after acquiring an additional 4,181 shares in the last quarter. Cadinha & Co. LLC acquired a new stake in shares of Caterpillar during the 4th quarter valued at about $11,084,000. Finally, First Affirmative Financial Network purchased a new position in shares of Caterpillar in the 3rd quarter valued at about $204,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on CAT. Jefferies Financial Group boosted their price objective on Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a research report on Friday, December 6th. UBS Group upped their price objective on shares of Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a research report on Monday, November 4th. StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. JPMorgan Chase & Co. upped 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. Finally, Truist Financial cut their price objective on Caterpillar from $471.00 to $455.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. 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 company’s stock. According to data from MarketBeat, Caterpillar has an average rating of “Hold” and an average target price of $380.60.

Caterpillar Stock Down 0.2 %

NYSE CAT opened at $397.68 on Thursday. 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 52 week low of $287.52 and a 52 week high of $418.50. The business’s fifty day simple moving average is $379.99 and its 200-day simple moving average is $368.17. The firm has a market cap of $192.00 billion, a PE ratio of 18.44, a P/E/G ratio of 1.97 and a beta of 1.13.

Caterpillar (NYSE:CAT) last posted 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 net margin of 16.26% and a return on equity of 59.09%. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.52 earnings per share. As a group, equities analysts anticipate that Caterpillar Inc. will post 21.69 earnings per share for the current year.

Caterpillar Dividend Announcement

The firm 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 $1.41 dividend. This represents a $5.64 annualized dividend and a dividend yield of 1.42%. The ex-dividend date is Tuesday, January 21st. Caterpillar’s dividend payout ratio (DPR) is presently 26.15%.

Insider Transactions at Caterpillar

In other news, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The shares were 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 directly owns 45,182 shares in the company, valued at approximately $17,173,226.38. This represents a 18.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Lange Bob De sold 12,657 shares of Caterpillar stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the completion of the sale, the insider now owns 71,107 shares of the company’s stock, valued at $29,171,646.75. This trade represents a 15.11 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,868 shares of company stock worth $13,480,389. 0.29% of the stock is currently owned by company insiders.

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.