Pallas Capital Advisors LLC Sells 391 Shares of Caterpillar Inc. (NYSE:CAT)

Pallas Capital Advisors LLC trimmed its stake in Caterpillar Inc. (NYSE:CAT) by 2.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,921 shares of the industrial products company’s stock after selling 391 shares during the period. Pallas Capital Advisors LLC’s holdings in Caterpillar were worth $5,775,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new stake in Caterpillar in the 3rd quarter valued at $36,000. Fairscale Capital LLC acquired a new stake in Caterpillar in the second quarter valued at $36,000. Kimelman & Baird LLC raised its position in shares of Caterpillar by 42.9% during the 3rd quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 30 shares in the last quarter. SOA Wealth Advisors LLC. raised its holdings in Caterpillar by 47.2% during the third quarter. SOA Wealth Advisors LLC. now owns 156 shares of the industrial products company’s stock worth $61,000 after purchasing an additional 50 shares in the last quarter. Finally, HWG Holdings LP purchased a new stake in Caterpillar in the second quarter valued at approximately $54,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Price Performance

Shares of NYSE:CAT traded up $11.82 during trading on Monday, hitting $362.82. 2,744,519 shares of the stock were exchanged, compared to its average volume of 1,944,909. The company has a market cap of $175.17 billion, a PE ratio of 16.82, a P/E/G ratio of 1.92 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. The company has a fifty day moving average price of $382.16 and a two-hundred day moving average price of $365.69. Caterpillar Inc. has a 12-month low of $276.94 and a 12-month high of $418.50.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The firm had revenue of $16.11 billion for the quarter, compared to analysts’ expectations of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. Caterpillar’s revenue was down 4.2% on a year-over-year basis. During the same period last year, the firm posted $5.52 EPS. On average, analysts forecast that Caterpillar Inc. will post 21.68 EPS for the current year.

Caterpillar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st will be given a dividend of $1.41 per share. The ex-dividend date is Tuesday, January 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.55%. Caterpillar’s dividend payout ratio (DPR) is 26.15%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CAT shares. Evercore ISI upgraded Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 price target on the stock in a research report on Monday. Jefferies Financial Group increased their target price on Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. increased their price objective on Caterpillar from $500.00 to $515.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Morgan Stanley downgraded shares of Caterpillar from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $349.00 to $332.00 in a report on Monday, October 14th. Finally, Bank of America increased their target price on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $384.33.

Insider Buying and Selling at Caterpillar

In other news, Director Daniel M. Dickinson sold 1,300 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $418.00, for a total transaction of $543,400.00. Following the transaction, the director now directly owns 4,976 shares in the company, valued at approximately $2,079,968. This represents a 20.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lange Bob De sold 12,657 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $410.25, for a total value of $5,192,534.25. Following the completion of the transaction, the insider now owns 71,107 shares in the company, valued at $29,171,646.75. This represents a 15.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,868 shares of company stock valued at $9,679,489. 0.29% of the stock is currently owned by corporate insiders.

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.