Apexium Financial LP Lowers Holdings in Caterpillar Inc. (NYSE:CAT)

Apexium Financial LP reduced its stake in shares of Caterpillar Inc. (NYSE:CAT) by 9.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 975 shares of the industrial products company’s stock after selling 96 shares during the period. Apexium Financial LP’s holdings in Caterpillar were worth $354,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Retirement Wealth Solutions LLC acquired a new position in shares of Caterpillar in the 4th quarter valued at $34,000. Capital Performance Advisors LLP acquired a new position in Caterpillar in the third quarter valued at $36,000. Albion Financial Group UT increased its stake in Caterpillar by 334.8% during the fourth quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 77 shares during the last quarter. Kimelman & Baird LLC raised its holdings in shares of Caterpillar by 42.9% in the 3rd quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 30 shares during the period. Finally, Trivant Custom Portfolio Group LLC lifted its stake in shares of Caterpillar by 130.0% in the 4th quarter. Trivant Custom Portfolio Group LLC now owns 115 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 65 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $380.09, for a total value of $3,800,900.00. Following the transaction, the chief financial officer now owns 45,182 shares of the company’s stock, valued at $17,173,226.38. This trade represents a 18.12 % 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, insider Lange Bob De sold 12,657 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $410.25, for a total value of $5,192,534.25. Following the transaction, the insider now directly owns 71,107 shares of the company’s stock, valued at $29,171,646.75. This trade represents a 15.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,868 shares of company stock worth $13,480,389. 0.29% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on CAT shares. Evercore ISI upgraded shares of Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 price target on the stock in a report on Monday, January 13th. Truist Financial reduced their target price on shares of Caterpillar from $471.00 to $455.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. UBS Group increased their price target on Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a report on Monday, November 4th. StockNews.com cut Caterpillar from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. Finally, Morgan Stanley lowered Caterpillar from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $349.00 to $332.00 in a research note on Monday, October 14th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Caterpillar presently has an average rating of “Hold” and an average price target of $380.60.

Caterpillar Stock Down 3.2 %

Shares of NYSE:CAT opened at $394.60 on Tuesday. The firm has a market cap of $190.51 billion, a PE ratio of 18.29, a price-to-earnings-growth ratio of 1.97 and a beta of 1.13. The company has a fifty day simple moving average of $381.07 and a 200 day simple moving average of $369.79. 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 $297.45 and a 12-month high of $418.50.

Caterpillar (NYSE:CAT) last released 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 return on equity of 59.09% and a net margin of 16.26%. The company had revenue of $16.11 billion during the quarter, compared to the consensus estimate of $16.37 billion. During the same period in the previous year, the firm posted $5.52 EPS. Caterpillar’s revenue for the quarter was down 4.2% on a year-over-year basis. On average, equities research analysts anticipate that Caterpillar Inc. will post 21.69 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 given a $1.41 dividend. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.43%. Caterpillar’s payout ratio is 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.