Caterpillar Inc. (NYSE:CAT) Shares Sold by Argyle Capital Management Inc.

Argyle Capital Management Inc. decreased its position in shares of Caterpillar Inc. (NYSE:CAT) by 14.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 14,767 shares of the industrial products company’s stock after selling 2,573 shares during the quarter. Caterpillar comprises 1.8% of Argyle Capital Management Inc.’s holdings, making the stock its 13th biggest position. Argyle Capital Management Inc.’s holdings in Caterpillar were worth $4,366,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Gilfoyle & Co LLC acquired a new stake in Caterpillar during the 4th quarter valued at $30,000. Fortitude Family Office LLC bought a new position in Caterpillar in the 4th quarter valued at about $39,000. Authentikos Wealth Advisory LLC bought a new position in Caterpillar in the 3rd quarter valued at about $41,000. Rational Advisors LLC bought a new position in Caterpillar in the 3rd quarter valued at about $42,000. Finally, Milestone Investment Advisors LLC bought a new position in shares of Caterpillar during the 3rd quarter valued at about $44,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Buying and Selling at Caterpillar

In related news, Director David Maclennan bought 350 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were bought at an average price of $323.37 per share, with a total value of $113,179.50. Following the completion of the transaction, the director now directly owns 5,238 shares in the company, valued at $1,693,812.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director David Maclennan bought 350 shares of the stock in a transaction on Friday, February 23rd. The shares were purchased at an average cost of $323.37 per share, for a total transaction of $113,179.50. Following the completion of the purchase, the director now directly owns 5,238 shares in the company, valued at approximately $1,693,812.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Anthony D. Fassino sold 4,575 shares of Caterpillar stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $329.80, for a total value of $1,508,835.00. Following the completion of the transaction, the insider now owns 23,474 shares of the company’s stock, valued at $7,741,725.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,769 shares of company stock valued at $11,508,906. Company insiders own 0.33% of the company’s stock.

Caterpillar Price Performance

Shares of CAT traded up $5.38 during trading hours on Friday, hitting $343.38. 3,324,630 shares of the company were exchanged, compared to its average volume of 2,414,735. The company has a market cap of $171.48 billion, a price-to-earnings ratio of 15.50, a P/E/G ratio of 1.53 and a beta of 1.17. Caterpillar Inc. has a fifty-two week low of $204.04 and a fifty-two week high of $382.01. The company has a quick ratio of 0.87, a current ratio of 1.35 and a debt-to-equity ratio of 1.41. The firm’s fifty day moving average is $350.10 and its 200 day moving average is $301.19.

Caterpillar (NYSE:CAT) last posted its earnings results on Thursday, April 25th. The industrial products company reported $5.60 EPS for the quarter, beating the consensus estimate of $5.12 by $0.48. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. The firm had revenue of $15.80 billion during the quarter, compared to the consensus estimate of $16.07 billion. On average, equities analysts anticipate that Caterpillar Inc. will post 21.44 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, April 22nd will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Friday, April 19th. This represents a $5.20 annualized dividend and a yield of 1.51%. Caterpillar’s dividend payout ratio is currently 23.48%.

Analyst Upgrades and Downgrades

A number of analysts have commented on CAT shares. Evercore ISI lowered shares of Caterpillar from an “outperform” rating to an “in-line” rating and upped their price objective for the company from $321.00 to $338.00 in a research note on Tuesday, February 20th. JPMorgan Chase & Co. increased their price target on shares of Caterpillar from $385.00 to $435.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. The Goldman Sachs Group raised their price objective on shares of Caterpillar from $357.00 to $408.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Morgan Stanley started coverage on shares of Caterpillar in a research report on Monday, January 8th. They set an “equal weight” rating and a $270.00 price objective on the stock. Finally, TD Cowen increased their price target on Caterpillar from $338.00 to $340.00 and gave the company a “buy” rating in a report on Friday. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $310.83.

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.