Convergence Financial LLC Acquires 239 Shares of Caterpillar Inc. (NYSE:CAT)

Convergence Financial LLC grew its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 29.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 1,060 shares of the industrial products company’s stock after purchasing an additional 239 shares during the period. Convergence Financial LLC’s holdings in Caterpillar were worth $384,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Nordea Investment Management AB grew its position 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 buying an additional 10,212 shares during the last quarter. West Wealth Group LLC bought a new stake in Caterpillar in the fourth quarter valued at approximately $230,000. Citizens Financial Group Inc. RI increased its position in 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 valued at $5,437,000 after purchasing an additional 4,181 shares during the period. Cadinha & Co. LLC bought a new position in Caterpillar during the 4th quarter worth approximately $11,084,000. Finally, Atomi Financial Group Inc. lifted its position in shares of Caterpillar by 3.9% in the 4th quarter. Atomi Financial Group Inc. now owns 23,193 shares of the industrial products company’s stock worth $8,414,000 after purchasing an additional 871 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CAT shares. StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday. Wedbush raised Caterpillar to an “outperform” rating in a research report on Monday, February 3rd. Robert W. Baird upped their target price on Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research report on Thursday, October 31st. Evercore ISI raised their price objective on shares of Caterpillar from $365.00 to $375.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. decreased their target price on Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $383.80.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Anthony D. Fassino sold 6,279 shares of the stock in a transaction dated 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 owns 33,565 shares in the company, valued at $13,714,323.35. This trade represents a 15.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jason Kaiser sold 2,425 shares of Caterpillar stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total transaction of $860,147.50. Following the completion of the transaction, the insider now owns 6,275 shares of the company’s stock, valued at $2,225,742.50. This represents a 27.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,704 shares of company stock worth $7,226,584 over the last three months. 0.29% of the stock is currently owned by insiders.

Caterpillar Stock Performance

NYSE CAT opened at $342.55 on Thursday. Caterpillar Inc. has a 1 year low of $307.05 and a 1 year high of $418.50. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. The company has a fifty day moving average price of $366.82 and a 200-day moving average price of $372.88. The firm has a market cap of $163.72 billion, a price-to-earnings ratio of 15.52, a PEG ratio of 1.87 and a beta of 1.12.

Caterpillar (NYSE:CAT) last announced its earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share for the quarter, topping analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. As a group, equities research analysts predict that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Tuesday, January 21st were given a dividend of $1.41 per share. The ex-dividend date of this dividend was Tuesday, January 21st. This represents a $5.64 annualized dividend and a yield of 1.65%. Caterpillar’s payout ratio is currently 25.56%.

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.