CGN Advisors LLC Reduces Holdings in Caterpillar Inc. (NYSE:CAT)

CGN Advisors LLC lowered its stake in Caterpillar Inc. (NYSE:CAT) by 12.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 6,415 shares of the industrial products company’s stock after selling 892 shares during the quarter. CGN Advisors LLC’s holdings in Caterpillar were worth $2,327,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CAT. International Assets Investment Management LLC boosted its position in Caterpillar by 39,534.0% during the 3rd quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock valued at $8,356,930,000 after buying an additional 2,131,276 shares during the period. Altshuler Shaham Ltd raised its stake in shares of Caterpillar by 3,319.7% during the second quarter. Altshuler Shaham Ltd now owns 275,011 shares of the industrial products company’s stock valued at $91,606,000 after acquiring an additional 266,969 shares during the last quarter. Zurich Insurance Group Ltd FI boosted its holdings in shares of Caterpillar by 4,018.6% during the third quarter. Zurich Insurance Group Ltd FI now owns 255,355 shares of the industrial products company’s stock worth $99,874,000 after purchasing an additional 249,155 shares during the period. Fisher Asset Management LLC grew its stake in shares of Caterpillar by 2.3% in the third quarter. Fisher Asset Management LLC now owns 8,952,632 shares of the industrial products company’s stock worth $3,501,554,000 after purchasing an additional 205,012 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its holdings in Caterpillar by 34.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 782,133 shares of the industrial products company’s stock valued at $305,908,000 after purchasing an additional 200,210 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Price Performance

NYSE CAT opened at $386.03 on Friday. The business’s fifty day moving average is $380.09 and its 200 day moving average is $366.76. The company has a market capitalization of $186.38 billion, a PE ratio of 17.90, a price-to-earnings-growth ratio of 1.72 and a beta of 1.13. 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 Inc. has a fifty-two week low of $277.66 and a fifty-two week high of $418.50.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data 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). Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The firm had revenue of $16.11 billion during the quarter, compared to analysts’ expectations of $16.37 billion. During the same period last year, the company earned $5.52 earnings per share. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. Sell-side analysts predict that Caterpillar Inc. will post 21.68 earnings per share for the current year.

Caterpillar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Tuesday, January 21st will be paid a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend is Tuesday, January 21st. Caterpillar’s dividend payout ratio (DPR) is 26.15%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CAT shares. Truist Financial cut their price objective on Caterpillar from $471.00 to $455.00 and set a “buy” rating on the stock in a research report on Thursday. Citigroup reduced their price objective on shares of Caterpillar from $460.00 to $420.00 and set a “buy” rating on the stock in a research report on Tuesday. Evercore ISI raised Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 price objective on the stock in a research report on Monday, January 13th. Jefferies Financial Group increased their price objective on shares of Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, UBS Group upped their target price on shares of Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a research note on Monday, November 4th. Three investment 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $380.60.

Insider Buying and Selling

In other news, insider Anthony D. Fassino sold 6,279 shares of Caterpillar stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $408.59, for a total value of $2,565,536.61. Following the sale, the insider now directly owns 33,565 shares of the company’s stock, valued at approximately $13,714,323.35. The trade was a 15.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction that occurred on 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 directly owns 45,182 shares of the company’s stock, valued at approximately $17,173,226.38. The trade was a 18.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,868 shares of company stock worth $13,480,389. 0.29% of the stock is 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.