New Mexico Educational Retirement Board Has $8.38 Million Stock Position in Caterpillar Inc. (NYSE:CAT)

New Mexico Educational Retirement Board cut its stake in Caterpillar Inc. (NYSE:CAT) by 3.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,102 shares of the industrial products company’s stock after selling 800 shares during the period. New Mexico Educational Retirement Board’s holdings in Caterpillar were worth $8,380,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Retirement Wealth Solutions LLC acquired a new position in shares of Caterpillar in the 4th quarter worth approximately $34,000. Capital Performance Advisors LLP acquired a new position in shares of Caterpillar in the 3rd quarter worth approximately $36,000. Albion Financial Group UT raised its holdings in shares of Caterpillar by 334.8% in the 4th quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock worth $36,000 after buying an additional 77 shares in the last quarter. Kimelman & Baird LLC raised its holdings in shares of Caterpillar by 42.9% in the 3rd quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock worth $39,000 after buying an additional 30 shares in the last quarter. Finally, Trivant Custom Portfolio Group LLC raised its holdings in shares of 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 buying an additional 65 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CAT shares. Jefferies Financial Group increased their target price on Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Robert W. Baird raised their price target on Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a report on Thursday, October 31st. Truist Financial dropped their price target on Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Evercore ISI raised Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 price target for the company in a report on Monday, January 13th. Finally, StockNews.com raised Caterpillar from a “hold” rating to a “buy” rating in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $383.13.

Insider Transactions at Caterpillar

In related news, Director Gerald Johnson purchased 100 shares of Caterpillar stock in a transaction dated Tuesday, February 4th. The shares were acquired at an average cost of $365.57 per share, for a total transaction of $36,557.00. Following the transaction, the director now directly owns 3,053 shares of the company’s stock, valued at approximately $1,116,085.21. This trade represents a 3.39 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $380.09, for a total value of $3,800,900.00. Following the sale, the chief financial officer now directly owns 45,182 shares in the company, valued at $17,173,226.38. The trade was a 18.12 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is owned by corporate insiders.

Caterpillar Stock Down 0.1 %

Shares of CAT opened at $353.31 on Friday. Caterpillar Inc. has a 52 week low of $307.05 and a 52 week high of $418.50. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42. The firm has a market capitalization of $170.58 billion, a price-to-earnings ratio of 16.01, a PEG ratio of 1.94 and a beta of 1.12. The business’s fifty day moving average price is $373.30 and its two-hundred day moving average price is $371.69.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. On average, analysts predict that Caterpillar Inc. will post 20.05 earnings per share for the current year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Tuesday, January 21st will be given a $1.41 dividend. The ex-dividend date is Tuesday, January 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.60%. Caterpillar’s dividend payout ratio is currently 25.56%.

Caterpillar Company 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.