Townsend Asset Management Corp NC ADV Sells 145 Shares of Caterpillar Inc. (NYSE:CAT)

Townsend Asset Management Corp NC ADV decreased its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 6.7% in the fourth quarter, HoldingsChannel reports. The fund owned 2,016 shares of the industrial products company’s stock after selling 145 shares during the quarter. Townsend Asset Management Corp NC ADV’s holdings in Caterpillar were worth $731,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Halbert Hargrove Global Advisors LLC bought a new stake in Caterpillar during the fourth quarter valued at about $27,000. Noble Wealth Management PBC bought a new position in shares of Caterpillar during the 4th quarter valued at approximately $31,000. Capital Performance Advisors LLP purchased a new stake in Caterpillar in the 3rd quarter worth approximately $36,000. Retirement Wealth Solutions LLC bought a new stake in Caterpillar during the 4th quarter worth approximately $34,000. Finally, Whipplewood Advisors LLC purchased a new position in Caterpillar during the fourth quarter valued at approximately $36,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Raymond James upgraded shares of Caterpillar from a “market perform” rating to an “outperform” rating in a research report on Monday, February 3rd. Jefferies Financial Group raised their price target on Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a report on Friday, December 6th. UBS Group upgraded Caterpillar from a “sell” rating to a “neutral” rating and increased their target price for the stock from $355.00 to $385.00 in a research report on Monday, February 3rd. Truist Financial lowered their price target on Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Caterpillar from $515.00 to $490.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $383.80.

Insider Activity at Caterpillar

In related news, insider Jason Kaiser sold 2,425 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was 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 in the company, valued at $2,225,742.50. The trade was a 27.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $380.09, for a total value of $3,800,900.00. Following the completion of the sale, the chief financial officer now owns 45,182 shares in the company, valued at approximately $17,173,226.38. The trade was a 18.12 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by insiders.

Caterpillar Trading Up 3.7 %

Shares of NYSE CAT opened at $338.74 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 business’s 50 day moving average is $363.91 and its two-hundred day moving average is $372.74. The stock has a market capitalization of $161.89 billion, a P/E ratio of 15.35, a PEG ratio of 1.87 and a beta of 1.12.

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, beating the consensus estimate 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, research analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Tuesday, January 21st were paid a dividend of $1.41 per share. The ex-dividend date of this dividend was Tuesday, January 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.67%. Caterpillar’s dividend payout ratio is presently 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.