Concord Asset Management LLC VA Sells 270 Shares of Caterpillar Inc. (NYSE:CAT)

Concord Asset Management LLC VA trimmed its position in Caterpillar Inc. (NYSE:CAT) by 4.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,089 shares of the industrial products company’s stock after selling 270 shares during the period. Concord Asset Management LLC VA’s holdings in Caterpillar were worth $2,209,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CAT. Geode Capital Management LLC grew its position in Caterpillar by 0.7% during the third quarter. Geode Capital Management LLC now owns 10,213,455 shares of the industrial products company’s stock worth $3,987,206,000 after buying an additional 67,148 shares in the last quarter. Fisher Asset Management LLC grew its stake in Caterpillar by 2.3% in the 3rd quarter. Fisher Asset Management LLC now owns 8,952,632 shares of the industrial products company’s stock worth $3,501,554,000 after buying an additional 205,012 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Caterpillar by 1.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,627,513 shares of the industrial products company’s stock valued at $1,418,793,000 after buying an additional 64,452 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Caterpillar by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,227,378 shares of the industrial products company’s stock valued at $1,262,290,000 after acquiring an additional 8,088 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in Caterpillar by 39,534.0% during the third quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock worth $8,356,930,000 after purchasing an additional 2,131,276 shares during the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CAT has been the subject of a number of recent research reports. Truist Financial lowered their price objective on shares of Caterpillar from $471.00 to $455.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Jefferies Financial Group boosted their price target on shares of Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Morgan Stanley decreased their price objective on Caterpillar from $330.00 to $300.00 and set an “underweight” rating on the stock in a report on Friday. StockNews.com cut Caterpillar from a “buy” rating to a “hold” rating in a report on Friday, January 17th. Finally, Evercore ISI raised Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 price target on the stock in a research note on Monday, January 13th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $380.13.

Caterpillar Stock Performance

Shares of Caterpillar stock opened at $371.88 on Friday. The business has a fifty day simple moving average of $381.40 and a two-hundred day simple moving average of $370.82. The firm has a market capitalization of $179.54 billion, a P/E ratio of 17.24, a P/E/G ratio of 2.05 and a beta of 1.13. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. Caterpillar Inc. has a 12 month low of $299.93 and a 12 month high of $418.50.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $5.14 EPS for the quarter, topping the consensus estimate of $4.97 by $0.17. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. On average, equities analysts forecast that Caterpillar Inc. will post 21.71 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st will be issued a $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 1.52%. The ex-dividend date is Tuesday, January 21st. Caterpillar’s dividend payout ratio (DPR) is 26.15%.

Insider Transactions at Caterpillar

In other Caterpillar news, Director Gerald Johnson acquired 100 shares of Caterpillar stock in a transaction that occurred on Wednesday, December 4th. The stock was bought at an average cost of $398.57 per share, for a total transaction of $39,857.00. Following the acquisition, the director now owns 2,953 shares of the company’s stock, valued at $1,176,977.21. This represents a 3.51 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the transaction, the chief financial officer now owns 45,182 shares in the company, valued at $17,173,226.38. This represents a 18.12 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,900 shares of company stock valued at $13,111,601. Insiders own 0.29% of the company’s stock.

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.