Slow Capital Inc. Trims Holdings in Caterpillar Inc. (NYSE:CAT)

Slow Capital Inc. reduced its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 9.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,692 shares of the industrial products company’s stock after selling 1,093 shares during the period. Slow Capital Inc.’s holdings in Caterpillar were worth $3,879,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Smallwood Wealth Investment Management LLC grew its stake in shares of Caterpillar by 2.6% in the 3rd 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 grew its stake in shares of Caterpillar by 4.0% in the third quarter. First Bank & Trust now owns 709 shares of the industrial products company’s stock worth $277,000 after acquiring an additional 27 shares during the last quarter. Washington Trust Bank increased its holdings in shares of Caterpillar by 1.2% during the third quarter. Washington Trust Bank now owns 2,349 shares of the industrial products company’s stock valued at $919,000 after acquiring an additional 27 shares in the last quarter. Channel Wealth LLC boosted its stake in Caterpillar by 1.9% in the 4th quarter. Channel Wealth LLC now owns 1,468 shares of the industrial products company’s stock worth $533,000 after purchasing an additional 27 shares in the last quarter. Finally, Pacifica Partners Inc. grew its position in Caterpillar by 1.6% during the 3rd quarter. Pacifica Partners Inc. now owns 1,807 shares of the industrial products company’s stock valued at $707,000 after purchasing an additional 28 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $394.60 on Tuesday. The company has a market capitalization of $190.51 billion, a P/E ratio of 18.29, a P/E/G ratio of 1.97 and a beta of 1.13. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86. The firm’s 50 day simple moving average is $381.07 and its two-hundred day simple moving average is $369.79. Caterpillar Inc. has a 1-year low of $297.45 and a 1-year 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 (EPS) 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 business had revenue of $16.11 billion for the quarter, compared to analysts’ expectations of $16.37 billion. During the same quarter in the prior year, the business posted $5.52 EPS. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. Research analysts expect that Caterpillar Inc. will post 21.69 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Tuesday, January 21st will be given a dividend of $1.41 per share. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.43%. Caterpillar’s payout ratio is 26.15%.

Analysts Set New Price Targets

CAT has been the topic of a number of recent analyst reports. Truist Financial cut their price target 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. Robert W. Baird lifted their target price on Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. increased their price objective on Caterpillar from $500.00 to $515.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. 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, Citigroup decreased their target price on shares of Caterpillar from $460.00 to $420.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Caterpillar has an average rating of “Hold” and a consensus target price of $380.60.

Insider Transactions at Caterpillar

In other news, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the sale, the chief financial officer now directly owns 45,182 shares in the company, valued at approximately $17,173,226.38. This represents a 18.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO William E. Schaupp sold 968 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $380.98, for a total value of $368,788.64. Following the sale, the chief accounting officer now directly owns 1,686 shares in the company, valued at $642,332.28. The trade was a 36.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,868 shares of company stock valued at $13,480,389. 0.29% of the stock is currently owned by 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.