Curated Wealth Partners LLC Sells 379 Shares of Caterpillar Inc. (NYSE:CAT)

Curated Wealth Partners LLC lessened its stake in shares of Caterpillar Inc. (NYSE:CAT) by 13.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,418 shares of the industrial products company’s stock after selling 379 shares during the quarter. Curated Wealth Partners LLC’s holdings in Caterpillar were worth $877,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. International Assets Investment Management LLC increased its stake in Caterpillar by 39,534.0% in the third quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock valued at $8,356,930,000 after acquiring an additional 2,131,276 shares during the last quarter. Zurich Insurance Group Ltd FI increased its position in shares of Caterpillar by 4,018.6% during the 3rd quarter. Zurich Insurance Group Ltd FI now owns 255,355 shares of the industrial products company’s stock valued at $99,874,000 after purchasing an additional 249,155 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of Caterpillar by 2.3% during the 3rd quarter. Fisher Asset Management LLC now owns 8,952,632 shares of the industrial products company’s stock valued at $3,501,554,000 after buying an additional 205,012 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in Caterpillar by 34.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 782,133 shares of the industrial products company’s stock worth $305,908,000 after buying an additional 200,210 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Caterpillar by 106.2% during the third quarter. Assenagon Asset Management S.A. now owns 317,828 shares of the industrial products company’s stock valued at $124,309,000 after acquiring an additional 163,725 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Bank of America upped their price objective on shares of Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Jefferies Financial Group lifted their price objective on Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a report on Friday, December 6th. UBS Group increased their target price on Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a report on Monday, November 4th. Robert W. Baird lifted their price target on Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. increased their price objective on Caterpillar from $500.00 to $515.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Caterpillar has a consensus rating of “Hold” and an average price target of $380.60.

Insider Buying and Selling

In other Caterpillar news, insider Cheryl H. Johnson sold 2,664 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $378.84, for a total transaction of $1,009,229.76. Following the completion of the sale, the insider now directly owns 12,951 shares in the company, valued at approximately $4,906,356.84. The trade was a 17.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lange Bob De sold 12,657 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the sale, the insider now directly owns 71,107 shares of the company’s stock, valued at $29,171,646.75. The trade was a 15.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,868 shares of company stock valued at $13,480,389 over the last quarter. Corporate insiders own 0.29% of the company’s stock.

Caterpillar Price Performance

CAT stock opened at $407.95 on Friday. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86. Caterpillar Inc. has a 1 year low of $293.13 and a 1 year high of $418.50. The firm has a 50-day moving average of $380.59 and a 200 day moving average of $368.65. The company has a market cap of $196.96 billion, a P/E ratio of 18.91, a PEG ratio of 1.97 and a beta of 1.13.

Caterpillar (NYSE:CAT) last released its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The firm had revenue of $16.11 billion during the quarter, compared to analysts’ expectations of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.52 EPS. On average, sell-side analysts forecast that Caterpillar Inc. will post 21.69 EPS for the current year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Tuesday, January 21st will be paid a $1.41 dividend. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.38%. Caterpillar’s payout ratio is 26.15%.

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.