Sumitomo Life Insurance Co. Sells 149 Shares of Caterpillar Inc. (NYSE:CAT)

Sumitomo Life Insurance Co. lessened its stake in Caterpillar Inc. (NYSE:CAT) by 2.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,117 shares of the industrial products company’s stock after selling 149 shares during the period. Sumitomo Life Insurance Co.’s holdings in Caterpillar were worth $2,582,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of CAT. Retirement Wealth Solutions LLC purchased a new position in shares of Caterpillar in the fourth quarter worth $34,000. Capital Performance Advisors LLP purchased a new stake in Caterpillar in the 3rd quarter worth approximately $36,000. Albion Financial Group UT lifted its stake in Caterpillar by 334.8% in the fourth quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 77 shares during the period. Kimelman & Baird LLC boosted its holdings in Caterpillar by 42.9% in the third quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 30 shares in the last quarter. Finally, Trivant Custom Portfolio Group LLC raised its holdings in Caterpillar by 130.0% in the 4th quarter. Trivant Custom Portfolio Group LLC now owns 115 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 65 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related 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 transaction, 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 document filed with the SEC, which is accessible through this hyperlink. Also, insider Lange Bob De sold 12,657 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the completion of the sale, the insider now directly owns 71,107 shares of the company’s stock, valued at approximately $29,171,646.75. The trade was a 15.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,868 shares of company stock valued at $13,480,389 in the last quarter. 0.29% of the stock is currently owned by insiders.

Caterpillar Trading Down 1.2 %

CAT stock opened at $390.29 on Wednesday. The company has a market capitalization of $188.43 billion, a price-to-earnings ratio of 18.09, a PEG 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. Caterpillar Inc. has a 1-year low of $297.45 and a 1-year high of $418.50. The business has a 50 day simple moving average of $381.27 and a two-hundred day simple moving average of $370.23.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 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 for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.52 EPS. Research analysts anticipate that Caterpillar Inc. will post 21.69 EPS for the current fiscal year.

Caterpillar Announces Dividend

The company 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 dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Tuesday, January 21st. Caterpillar’s payout ratio is presently 26.15%.

Wall Street Analysts Forecast Growth

CAT has been the subject of several research analyst reports. Truist Financial lowered their price objective on shares of Caterpillar from $471.00 to $455.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Evercore ISI raised Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 target price for the company in a report on Monday, January 13th. Jefferies Financial Group increased their price objective on Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a research report on Friday, December 6th. UBS Group upped their target price on shares of Caterpillar from $295.00 to $355.00 and gave the company a “sell” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. lifted their price target on shares of Caterpillar from $500.00 to $515.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. 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 stock. According to data from MarketBeat.com, Caterpillar presently has an average rating of “Hold” and a consensus price target of $384.60.

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.