High Net Worth Advisory Group LLC Cuts Stock Position in Caterpillar Inc. (NYSE:CAT)

High Net Worth Advisory Group LLC lessened its position in Caterpillar Inc. (NYSE:CAT) by 19.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,138 shares of the industrial products company’s stock after selling 764 shares during the period. High Net Worth Advisory Group LLC’s holdings in Caterpillar were worth $1,139,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Smallwood Wealth Investment Management LLC lifted its position in shares of Caterpillar by 2.6% in the third quarter. Smallwood Wealth Investment Management LLC now owns 1,037 shares of the industrial products company’s stock worth $405,000 after buying an additional 26 shares during the last quarter. First Bank & Trust boosted its position in shares of Caterpillar by 4.0% during the 3rd quarter. First Bank & Trust now owns 709 shares of the industrial products company’s stock valued at $277,000 after acquiring an additional 27 shares in the last quarter. Washington Trust Bank grew its stake in shares of Caterpillar by 1.2% in the 3rd quarter. Washington Trust Bank now owns 2,349 shares of the industrial products company’s stock valued at $919,000 after purchasing an additional 27 shares during the period. Channel Wealth LLC raised its stake in Caterpillar by 1.9% during the fourth quarter. Channel Wealth LLC now owns 1,468 shares of the industrial products company’s stock worth $533,000 after acquiring an additional 27 shares in the last quarter. Finally, Pacifica Partners Inc. grew its stake in Caterpillar by 1.6% during the third quarter. Pacifica Partners Inc. now owns 1,807 shares of the industrial products company’s stock worth $707,000 after buying an additional 28 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Up 0.4 %

Shares of NYSE CAT opened at $407.95 on Monday. The business has a 50-day simple moving average of $381.07 and a two-hundred day simple moving average of $369.50. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. Caterpillar Inc. has a 52 week low of $293.13 and a 52 week high of $418.50. The company has a market cap of $196.96 billion, a P/E ratio of 18.91, a P/E/G ratio of 1.97 and a beta of 1.13.

Caterpillar (NYSE:CAT) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.33 by ($0.16). The company had revenue of $16.11 billion during the quarter, compared to analysts’ expectations of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The firm’s revenue was down 4.2% on a year-over-year basis. During the same quarter last year, the firm posted $5.52 earnings per share. Research analysts anticipate that Caterpillar Inc. will post 21.69 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Investors 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 yield of 1.38%. The ex-dividend date is Tuesday, January 21st. Caterpillar’s payout ratio is 26.15%.

Insider Activity

In other Caterpillar news, CAO William E. Schaupp sold 968 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $380.98, for a total transaction of $368,788.64. Following the sale, the chief accounting officer now directly owns 1,686 shares in the company, valued at approximately $642,332.28. This trade represents a 36.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Lange Bob De sold 12,657 shares of the business’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 transaction 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. The trade was a 15.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,868 shares of company stock valued at $13,480,389. Corporate insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Bank of America increased their price target on shares of Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research note on Monday, September 30th. UBS Group upped their target price on shares of Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a research note on Monday, November 4th. StockNews.com lowered Caterpillar from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. JPMorgan Chase & Co. boosted their price target on Caterpillar from $500.00 to $515.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Finally, Evercore ISI raised shares of Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 target price for the company in a research report on Monday, January 13th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $380.60.

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.