Cable Hill Partners LLC Sells 229 Shares of Caterpillar Inc. (NYSE:CAT)

Cable Hill Partners LLC reduced its position in shares of Caterpillar Inc. (NYSE:CAT) by 10.2% during the fourth quarter, Holdings Channel reports. The firm owned 2,025 shares of the industrial products company’s stock after selling 229 shares during the period. Cable Hill Partners LLC’s holdings in Caterpillar were worth $735,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nordea Investment Management AB boosted its stake in shares of Caterpillar by 1.6% in the 4th quarter. Nordea Investment Management AB now owns 635,750 shares of the industrial products company’s stock worth $231,686,000 after buying an additional 10,212 shares during the last quarter. West Wealth Group LLC purchased a new position in Caterpillar in the fourth quarter worth $230,000. Citizens Financial Group Inc. RI grew its stake in Caterpillar by 43.0% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 13,902 shares of the industrial products company’s stock valued at $5,437,000 after purchasing an additional 4,181 shares during the period. Cadinha & Co. LLC purchased a new stake in shares of Caterpillar during the 4th quarter valued at $11,084,000. Finally, Atomi Financial Group Inc. raised its stake in shares of Caterpillar by 3.9% during the 4th quarter. Atomi Financial Group Inc. now owns 23,193 shares of the industrial products company’s stock worth $8,414,000 after purchasing an additional 871 shares during the period. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on CAT. Raymond James upgraded shares of Caterpillar from a “market perform” rating to an “outperform” rating in a report on Monday, February 3rd. Bank of America decreased their price target on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Truist Financial dropped their price objective on Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. JPMorgan Chase & Co. decreased their target price on Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Finally, Wedbush raised Caterpillar to an “outperform” rating in a research report on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $383.80.

Insider Buying and Selling at Caterpillar

In other news, Director Gerald Johnson purchased 100 shares of the stock in a transaction on Wednesday, December 4th. The shares were acquired at an average price of $398.57 per share, for a total transaction of $39,857.00. Following the completion of the transaction, the director now directly owns 2,953 shares of the company’s stock, valued at approximately $1,176,977.21. This trade represents a 3.51 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, insider Jason Kaiser sold 2,425 shares of Caterpillar stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total value of $860,147.50. Following the sale, the insider now directly owns 6,275 shares of the company’s stock, valued at approximately $2,225,742.50. This trade represents a 27.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,704 shares of company stock valued at $7,226,584 in the last 90 days. Corporate insiders own 0.29% of the company’s stock.

Caterpillar Price Performance

CAT stock opened at $342.55 on Thursday. The firm has a 50 day moving average of $366.82 and a 200-day moving average of $372.88. The firm has a market capitalization of $163.72 billion, a P/E ratio of 15.52, a price-to-earnings-growth ratio of 1.87 and a beta of 1.12. Caterpillar Inc. has a 12 month low of $307.05 and a 12 month high of $418.50. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 EPS for the quarter, beating 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%. As a group, sell-side analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st were paid a $1.41 dividend. The ex-dividend date of this dividend was Tuesday, January 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.65%. Caterpillar’s dividend payout ratio is currently 25.56%.

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.