Procyon Advisors LLC Reduces Position in Caterpillar Inc. (NYSE:CAT)

Procyon Advisors LLC trimmed its holdings in Caterpillar Inc. (NYSE:CAT) by 1.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,469 shares of the industrial products company’s stock after selling 190 shares during the quarter. Procyon Advisors LLC’s holdings in Caterpillar were worth $4,161,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP acquired a new stake in shares of Caterpillar during the 3rd quarter worth approximately $36,000. Fairscale Capital LLC acquired a new stake in Caterpillar during the second quarter worth $36,000. Kimelman & Baird LLC raised its position in Caterpillar by 42.9% in the third quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 30 shares during the period. SOA Wealth Advisors LLC. lifted its stake in shares of Caterpillar by 47.2% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 156 shares of the industrial products company’s stock valued at $61,000 after purchasing an additional 50 shares during the last quarter. Finally, HWG Holdings LP purchased a new position in shares of Caterpillar during the 2nd quarter worth $54,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insiders Place Their Bets

In other Caterpillar news, Director Gerald Johnson bought 100 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was purchased at an average cost of $398.57 per share, for a total transaction of $39,857.00. Following the completion of the purchase, the director now owns 2,953 shares of the company’s stock, valued at $1,176,977.21. This trade represents a 3.51 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO William E. Schaupp sold 968 shares of the firm’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 directly owns 1,686 shares in the company, valued at $642,332.28. This represents a 36.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,868 shares of company stock valued at $9,679,489. Corporate insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CAT shares. UBS Group lifted their price target on shares of Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a research report on Monday, November 4th. Citigroup decreased their price target on Caterpillar from $460.00 to $420.00 and set a “buy” rating on the stock in a research note on Tuesday. Robert W. Baird lifted their price objective on shares of Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a report on Thursday, October 31st. Jefferies Financial Group boosted their target price on Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, Truist Financial reduced their price objective on shares of Caterpillar from $471.00 to $455.00 and set a “buy” rating on the stock in a report on Thursday. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $380.60.

Caterpillar Stock Performance

NYSE CAT opened at $380.85 on Friday. The stock has a market capitalization of $183.87 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 1.72 and a beta of 1.13. The company has a current ratio of 1.40, a quick ratio of 0.86 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 business’s 50 day moving average is $380.24 and its two-hundred day moving average is $366.36.

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). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The business had revenue of $16.11 billion for the quarter, compared to analysts’ expectations of $16.37 billion. During the same quarter last year, the business posted $5.52 earnings per share. The business’s revenue was down 4.2% compared to the same quarter last year. Research analysts expect that Caterpillar Inc. will post 21.68 EPS for the current year.

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Tuesday, January 21st will be paid a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date is Tuesday, January 21st. Caterpillar’s payout ratio is currently 26.15%.

About Caterpillar

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.