Ieq Capital LLC Trims Position in Caterpillar Inc. (NYSE:CAT)

Ieq Capital LLC trimmed its stake in Caterpillar Inc. (NYSE:CAT) by 34.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,530 shares of the industrial products company’s stock after selling 9,830 shares during the period. Ieq Capital LLC’s holdings in Caterpillar were worth $6,722,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Activity

In other news, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction 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 sale, the chief financial officer now directly owns 45,182 shares of the company’s stock, valued at $17,173,226.38. This represents a 18.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Anthony D. Fassino sold 6,279 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $408.59, for a total transaction of $2,565,536.61. Following the completion of the sale, the insider now owns 33,565 shares in the company, valued at $13,714,323.35. The trade was a 15.76 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,704 shares of company stock valued at $7,226,584. Company insiders own 0.29% of the company’s stock.

Caterpillar Stock Performance

CAT opened at $348.84 on Friday. The firm’s 50-day moving average price is $370.18 and its 200-day moving average price is $372.40. The company has a market cap of $166.72 billion, a P/E ratio of 15.81, a price-to-earnings-growth ratio of 1.89 and a beta of 1.12. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. Caterpillar Inc. has a 52-week low of $307.05 and a 52-week high of $418.50.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. As a group, equities analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st were paid a dividend of $1.41 per share. The ex-dividend date of this dividend was Tuesday, January 21st. This represents a $5.64 annualized dividend and a yield of 1.62%. Caterpillar’s payout ratio is presently 25.56%.

Analysts Set New Price Targets

A number of research firms have commented on CAT. Bank of America cut their target price on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Jefferies Financial Group lifted their price objective on shares of Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a report on Friday, December 6th. StockNews.com raised Caterpillar from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. Evercore ISI boosted their price target on Caterpillar from $365.00 to $375.00 and gave the stock an “in-line” rating in a research report on Wednesday. Finally, Citigroup upped their price objective on Caterpillar from $420.00 to $430.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $383.80.

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.