Caterpillar Inc. (NYSE:CAT) Stock Position Lowered by Simplicity Wealth LLC

Simplicity Wealth LLC trimmed its stake in Caterpillar Inc. (NYSE:CAT) by 6.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,199 shares of the industrial products company’s stock after selling 158 shares during the quarter. Simplicity Wealth LLC’s holdings in Caterpillar were worth $798,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Halbert Hargrove Global Advisors LLC acquired a new position in shares of Caterpillar in the 4th quarter worth $27,000. Noble Wealth Management PBC acquired a new position in shares of Caterpillar in the 4th quarter worth $31,000. Retirement Wealth Solutions LLC acquired a new position in shares of Caterpillar in the 4th quarter worth $34,000. Capital Performance Advisors LLP acquired a new position in shares of Caterpillar in the 3rd quarter worth $36,000. Finally, Albion Financial Group UT grew its holdings in shares of Caterpillar by 334.8% in the 4th quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 77 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $350.97 on Monday. Caterpillar Inc. has a fifty-two week low of $307.05 and a fifty-two week high of $418.50. The business has a 50-day moving average of $363.11 and a two-hundred day moving average of $372.98. The stock has a market capitalization of $167.74 billion, a P/E ratio of 15.90, a P/E/G ratio of 1.87 and a beta of 1.15. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share for the quarter, topping analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. On average, equities research analysts predict that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Tuesday, January 21st were given a dividend of $1.41 per share. The ex-dividend date of this dividend was Tuesday, January 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.61%. Caterpillar’s dividend payout ratio is presently 25.56%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Wedbush upgraded Caterpillar to an “outperform” rating in a report on Monday, February 3rd. DA Davidson lifted their price target on Caterpillar from $350.00 to $357.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. JPMorgan Chase & Co. lowered their price target on Caterpillar from $515.00 to $490.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Morgan Stanley lowered their price target on Caterpillar from $330.00 to $300.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. Finally, Bank of America lowered their price target on Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $383.80.

Insider Buying and Selling

In related news, insider Jason Kaiser sold 2,425 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total transaction of $860,147.50. Following the completion of the transaction, the insider now owns 6,275 shares of the company’s stock, valued at approximately $2,225,742.50. The trade was a 27.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gerald Johnson acquired 100 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were acquired at an average cost of $365.57 per share, with a total value of $36,557.00. Following the transaction, the director now directly owns 3,053 shares in the company, valued at $1,116,085.21. The trade was a 3.39 % increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is owned by insiders.

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.