Concord Wealth Partners Cuts Stock Position in Caterpillar Inc. (NYSE:CAT)

Concord Wealth Partners decreased its stake in shares of Caterpillar Inc. (NYSE:CAT) by 0.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 9,236 shares of the industrial products company’s stock after selling 58 shares during the quarter. Concord Wealth Partners’ holdings in Caterpillar were worth $3,350,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Retirement Wealth Solutions LLC bought a new position in Caterpillar during the 4th quarter valued at about $34,000. Capital Performance Advisors LLP bought a new position in Caterpillar during the third quarter valued at approximately $36,000. Albion Financial Group UT boosted its holdings in Caterpillar by 334.8% in the fourth quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 77 shares during the last quarter. Kimelman & Baird LLC raised its stake in Caterpillar by 42.9% during the 3rd quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock valued at $39,000 after buying an additional 30 shares during the last quarter. Finally, Trivant Custom Portfolio Group LLC lifted its holdings in shares of Caterpillar by 130.0% during the 4th quarter. Trivant Custom Portfolio Group LLC now owns 115 shares of the industrial products company’s stock valued at $42,000 after buying an additional 65 shares during the period. 70.98% of the stock is owned by institutional investors.

Caterpillar Trading Down 0.8 %

CAT opened at $371.88 on Friday. Caterpillar Inc. has a 12 month low of $299.93 and a 12 month high of $418.50. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. The stock has a 50-day moving average of $381.40 and a 200 day moving average of $370.82. The firm has a market cap 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.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. As a group, research analysts forecast that Caterpillar Inc. will post 21.71 EPS for the current year.

Caterpillar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st will be given 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 presently 26.15%.

Analysts Set New Price Targets

CAT has been the subject of a number of research reports. Citigroup upped their price objective on Caterpillar from $420.00 to $430.00 and gave the company a “buy” rating in a research report on Friday. JPMorgan Chase & Co. dropped their price objective on shares of Caterpillar from $515.00 to $490.00 and set an “overweight” rating on the stock in a report on Friday. Truist Financial reduced their target price 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. UBS Group boosted their price objective on shares of Caterpillar from $295.00 to $355.00 and gave the company a “sell” rating in a research report on Tuesday. Finally, Jefferies Financial Group lifted their target price on Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $380.13.

Insider Transactions at Caterpillar

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

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.