Caterpillar Inc. (NYSE:CAT) Stake Reduced by Mission Wealth Management LP

Mission Wealth Management LP trimmed its stake in Caterpillar Inc. (NYSE:CAT) by 1.1% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 8,019 shares of the industrial products company’s stock after selling 93 shares during the quarter. Mission Wealth Management LP’s holdings in Caterpillar were worth $2,909,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Harbor Capital Advisors Inc. raised its holdings in shares of Caterpillar by 0.7% during the third quarter. Harbor Capital Advisors Inc. now owns 10,606 shares of the industrial products company’s stock valued at $4,148,000 after buying an additional 78 shares during the last quarter. Van ECK Associates Corp increased its position in Caterpillar by 11.0% in the 3rd quarter. Van ECK Associates Corp now owns 101,500 shares of the industrial products company’s stock valued at $39,152,000 after acquiring an additional 10,065 shares during the period. KG&L Capital Management LLC boosted its position in Caterpillar by 10.3% during the 3rd quarter. KG&L Capital Management LLC now owns 3,585 shares of the industrial products company’s stock worth $1,389,000 after acquiring an additional 335 shares during the period. Northeast Investment Management grew its stake in shares of Caterpillar by 0.9% in the third quarter. Northeast Investment Management now owns 19,258 shares of the industrial products company’s stock worth $7,532,000 after purchasing an additional 165 shares in the last quarter. Finally, Cortland Associates Inc. MO increased its holdings in shares of Caterpillar by 89.0% during the third quarter. Cortland Associates Inc. MO now owns 2,544 shares of the industrial products company’s stock valued at $995,000 after purchasing an additional 1,198 shares during the period. Institutional investors own 70.98% of the company’s stock.

Insider Buying and Selling

In related news, Director Gerald Johnson acquired 100 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were purchased at an average price of $398.57 per share, for a total transaction of $39,857.00. Following the purchase, the director now owns 2,953 shares in the company, valued at $1,176,977.21. This represents a 3.51 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the sale, the chief financial officer now directly owns 45,182 shares of the company’s stock, valued at $17,173,226.38. This trade represents a 18.12 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

Caterpillar Trading Down 3.5 %

Shares of CAT opened at $331.75 on Tuesday. The business’s 50-day moving average price is $365.31 and its 200 day moving average price is $373.10. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40. The stock has a market capitalization of $158.55 billion, a P/E ratio of 15.03, a P/E/G ratio of 1.87 and a beta of 1.12. Caterpillar Inc. has a 1-year low of $307.05 and a 1-year high of $418.50.

Caterpillar (NYSE:CAT) last released its earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share for the quarter, topping 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 expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Dividend Announcement

The firm 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. This represents a $5.64 annualized dividend and a yield of 1.70%. The ex-dividend date was Tuesday, January 21st. Caterpillar’s payout ratio is 25.56%.

Analyst Ratings Changes

CAT has been the subject of several research analyst reports. Jefferies Financial Group upped their price objective on shares of Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Citigroup increased their price objective on shares of Caterpillar from $420.00 to $430.00 and gave the company a “buy” rating in a report on Friday, January 31st. UBS Group raised Caterpillar from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $355.00 to $385.00 in a report on Monday, February 3rd. Evercore ISI increased their price target on Caterpillar from $365.00 to $375.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. Finally, StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $383.80.

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.