Caterpillar Inc. (NYSE:CAT) Stake Reduced by Raymond James & Associates

Raymond James & Associates trimmed its holdings in Caterpillar Inc. (NYSE:CAT) by 5.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 604,691 shares of the industrial products company’s stock after selling 36,719 shares during the quarter. Raymond James & Associates owned 0.12% of Caterpillar worth $221,577,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Norges Bank purchased a new position in Caterpillar in the 4th quarter worth about $1,660,560,000. International Assets Investment Management LLC increased its position in shares of Caterpillar by 28,603.5% in the fourth quarter. International Assets Investment Management LLC now owns 1,494,018 shares of the industrial products company’s stock worth $4,417,360,000 after acquiring an additional 1,488,813 shares in the last quarter. Capital Wealth Planning LLC raised its holdings in shares of Caterpillar by 27,495.2% during the fourth quarter. Capital Wealth Planning LLC now owns 1,182,453 shares of the industrial products company’s stock valued at $349,616,000 after acquiring an additional 1,178,168 shares during the period. Winslow Capital Management LLC lifted its position in shares of Caterpillar by 2,265.3% in the 3rd quarter. Winslow Capital Management LLC now owns 1,117,830 shares of the industrial products company’s stock valued at $305,168,000 after acquiring an additional 1,070,570 shares in the last quarter. Finally, FMR LLC boosted its stake in Caterpillar by 14.9% in the 3rd quarter. FMR LLC now owns 6,038,207 shares of the industrial products company’s stock worth $1,648,431,000 after purchasing an additional 781,111 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Activity

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $310.10, for a total transaction of $3,101,000.00. Following the completion of the transaction, the chief financial officer now owns 57,317 shares of the company’s stock, valued at approximately $17,774,001.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Anthony D. Fassino sold 4,575 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $329.80, for a total transaction of $1,508,835.00. Following the transaction, the insider now owns 23,474 shares in the company, valued at approximately $7,741,725.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $310.10, for a total transaction of $3,101,000.00. Following the completion of the sale, the chief financial officer now owns 57,317 shares of the company’s stock, valued at approximately $17,774,001.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,769 shares of company stock valued at $11,508,906. 0.33% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on CAT shares. JPMorgan Chase & Co. boosted their target price on shares of Caterpillar from $385.00 to $435.00 and gave the company an “overweight” rating in a research note on Tuesday, April 16th. TD Cowen increased their price objective on Caterpillar from $338.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday. Stifel Nicolaus cut Caterpillar from a “buy” rating to a “hold” rating and lifted their target price for the company from $293.00 to $350.00 in a research note on Friday. Truist Financial initiated coverage on Caterpillar in a report on Thursday, March 14th. They issued a “buy” rating and a $390.00 target price on the stock. Finally, Evercore ISI cut shares of Caterpillar from an “outperform” rating to an “in-line” rating and raised their price target for the stock from $321.00 to $338.00 in a report on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $310.83.

Caterpillar Stock Performance

Shares of CAT stock traded up $5.38 during trading on Friday, reaching $343.38. The company had a trading volume of 3,324,630 shares, compared to its average volume of 2,414,735. The company has a market capitalization of $171.48 billion, a PE ratio of 15.50, a PEG ratio of 1.51 and a beta of 1.17. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.35 and a quick ratio of 0.87. The firm’s 50 day simple moving average is $350.10 and its two-hundred day simple moving average is $300.80. Caterpillar Inc. has a one year low of $204.04 and a one year high of $382.01.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Thursday, April 25th. The industrial products company reported $5.60 EPS for the quarter, beating analysts’ consensus estimates of $5.12 by $0.48. The company had revenue of $15.80 billion for the quarter, compared to analyst estimates of $16.07 billion. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. Sell-side analysts forecast that Caterpillar Inc. will post 21.3 earnings per share for the current year.

Caterpillar Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, April 22nd will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend is Friday, April 19th. Caterpillar’s dividend payout ratio (DPR) is 23.48%.

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.