City Holding Co. Sells 639 Shares of Caterpillar Inc. (NYSE:CAT)

City Holding Co. decreased its stake in shares of Caterpillar Inc. (NYSE:CAT) by 2.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,566 shares of the industrial products company’s stock after selling 639 shares during the quarter. Caterpillar makes up 1.1% of City Holding Co.’s portfolio, making the stock its 19th largest position. City Holding Co.’s holdings in Caterpillar were worth $7,823,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Client 1ST Advisory Group LLC bought a new stake in shares of Caterpillar in the fourth quarter valued at about $203,000. Brady Martz Wealth Solutions LLC bought a new stake in shares of Caterpillar in the 4th quarter valued at about $235,000. Liberty One Investment Management LLC boosted its stake in shares of Caterpillar by 3.7% during the fourth quarter. Liberty One Investment Management LLC now owns 13,264 shares of the industrial products company’s stock valued at $4,811,000 after purchasing an additional 479 shares in the last quarter. Cadinha & Co. LLC purchased a new position in Caterpillar during the fourth quarter valued at approximately $11,084,000. Finally, Stillwater Capital Advisors LLC lifted its holdings in Caterpillar by 1.5% during the fourth quarter. Stillwater Capital Advisors LLC now owns 41,315 shares of the industrial products company’s stock worth $14,988,000 after buying an additional 594 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CAT has been the subject of several recent research reports. Robert W. Baird boosted their price target on Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research report on Thursday, October 31st. UBS Group increased 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. Morgan Stanley lowered shares of Caterpillar from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $349.00 to $332.00 in a research note on Monday, October 14th. Truist Financial cut their price target on shares of Caterpillar from $471.00 to $455.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Evercore ISI upgraded Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 price objective for the company in a report on Monday, January 13th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Caterpillar presently has a consensus rating of “Hold” and an average target price of $380.60.

Caterpillar Trading Up 1.4 %

CAT opened at $386.03 on Monday. The business’s 50-day simple moving average is $380.09 and its 200-day simple moving average is $367.29. The company has a market cap of $186.38 billion, a P/E ratio of 17.90, a PEG ratio of 1.72 and a beta of 1.13. Caterpillar Inc. has a one year low of $277.66 and a one year high of $418.50. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data 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 return on equity of 59.09% and a net margin of 16.26%. The company had revenue of $16.11 billion for the quarter, compared to analysts’ expectations of $16.37 billion. During the same quarter in the prior year, the firm posted $5.52 EPS. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year. As a group, equities research analysts expect that Caterpillar Inc. will post 21.68 EPS for the current fiscal year.

Caterpillar Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Tuesday, January 21st will be issued a $1.41 dividend. This represents a $5.64 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Tuesday, January 21st. Caterpillar’s payout ratio is currently 26.15%.

Insider Activity at Caterpillar

In related news, insider Lange Bob De sold 12,657 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the transaction, the insider now owns 71,107 shares of the company’s stock, valued at $29,171,646.75. This represents a 15.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO William E. Schaupp sold 968 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $380.98, for a total transaction of $368,788.64. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 33,868 shares of company stock valued at $13,480,389 in the last three months. 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.