DT Investment Partners LLC Lowers Holdings in Caterpillar Inc. (NYSE:CAT)

DT Investment Partners LLC trimmed its holdings in Caterpillar Inc. (NYSE:CAT) by 1.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,474 shares of the industrial products company’s stock after selling 180 shares during the period. DT Investment Partners LLC’s holdings in Caterpillar were worth $4,525,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in CAT. Creative Planning lifted its position in shares of Caterpillar by 1.7% in the third quarter. Creative Planning now owns 227,915 shares of the industrial products company’s stock worth $89,142,000 after buying an additional 3,772 shares in the last quarter. ERn Financial LLC purchased a new stake in shares of Caterpillar in the third quarter worth about $220,000. AAFMAA Wealth Management & Trust LLC lifted its position in shares of Caterpillar by 1.6% in the third quarter. AAFMAA Wealth Management & Trust LLC now owns 7,308 shares of the industrial products company’s stock worth $2,858,000 after buying an additional 116 shares in the last quarter. Bfsg LLC lifted its position in shares of Caterpillar by 15.3% in the third quarter. Bfsg LLC now owns 317 shares of the industrial products company’s stock worth $124,000 after buying an additional 42 shares in the last quarter. Finally, Cornerstone Wealth Management LLC increased its stake in Caterpillar by 3.3% during the third quarter. Cornerstone Wealth Management LLC now owns 3,903 shares of the industrial products company’s stock worth $1,527,000 after acquiring an additional 126 shares during the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Caterpillar

In other Caterpillar news, insider Anthony D. Fassino sold 6,279 shares of Caterpillar stock in a transaction dated 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 of the company’s stock, valued at approximately $13,714,323.35. The trade was a 15.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction dated 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 of the company’s stock, valued at approximately $17,173,226.38. This represents a 18.12 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

Caterpillar Stock Up 0.5 %

Caterpillar stock opened at $353.97 on Friday. The business has a fifty day moving average of $374.12 and a two-hundred day moving average of $371.81. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. The firm has a market cap of $170.90 billion, a P/E ratio of 16.04, a P/E/G ratio of 1.94 and a beta of 1.12. Caterpillar Inc. has a twelve month low of $307.05 and a twelve month high of $418.50.

Caterpillar (NYSE:CAT) last posted its earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share for the quarter, topping analysts’ consensus estimates 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 forecast that Caterpillar Inc. will post 20.05 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The firm 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 $1.41 dividend. 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 1.59%. Caterpillar’s payout ratio is 25.56%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CAT. Jefferies Financial Group boosted their price objective on Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. UBS Group raised Caterpillar from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $355.00 to $385.00 in a research note on Monday, February 3rd. Robert W. Baird boosted their price objective on Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research note on Thursday, October 31st. Truist Financial cut their target price on Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Finally, Bank of America dropped their price objective on Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $383.13.

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.