Retirement Systems of Alabama Cuts Stock Position in Caterpillar Inc. (NYSE:CAT)

Retirement Systems of Alabama lowered its holdings in Caterpillar Inc. (NYSE:CAT) by 0.5% during the 4th quarter, Holdings Channel reports. The firm owned 242,593 shares of the industrial products company’s stock after selling 1,180 shares during the period. Retirement Systems of Alabama’s holdings in Caterpillar were worth $88,003,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of CAT. Retirement Wealth Solutions LLC purchased a new position in shares of Caterpillar during the 4th quarter valued at $34,000. Capital Performance Advisors LLP purchased a new position in shares of Caterpillar during the 3rd quarter valued at $36,000. Albion Financial Group UT lifted its position in shares of Caterpillar by 334.8% during the 4th quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock valued at $36,000 after buying an additional 77 shares during the last quarter. Kimelman & Baird LLC lifted its position in shares of 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 position 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 last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Activity at Caterpillar

In other Caterpillar news, insider Lange Bob De sold 12,657 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $410.25, for a total value of $5,192,534.25. Following the completion of the sale, the insider now owns 71,107 shares in the company, valued at approximately $29,171,646.75. This trade represents a 15.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was 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 of the company’s stock, valued at approximately $17,173,226.38. This trade represents a 18.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,936 shares of company stock worth $11,558,971 in the last ninety days. 0.29% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Jefferies Financial Group boosted their price objective on Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Evercore ISI upgraded Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 price objective on the stock in a research note on Monday, January 13th. Robert W. Baird boosted their price objective on Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research note on Thursday, October 31st. Bank of America decreased their price objective on Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Finally, Morgan Stanley decreased their price objective on Caterpillar from $330.00 to $300.00 and set an “underweight” rating on the stock in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $379.50.

Caterpillar Price Performance

Shares of Caterpillar stock opened at $362.21 on Wednesday. The firm has a market capitalization of $174.88 billion, a PE ratio of 16.41, a price-to-earnings-growth ratio of 1.95 and a beta of 1.12. Caterpillar Inc. has a 12 month low of $307.05 and a 12 month high of $418.50. The business’s 50-day moving average price is $380.00 and its 200-day moving average price is $371.21. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40.

Caterpillar (NYSE:CAT) last issued its earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share for the quarter, beating the consensus estimate of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. Sell-side analysts forecast that Caterpillar Inc. will post 21.45 EPS for the current fiscal year.

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Tuesday, January 21st will be issued a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend is Tuesday, January 21st. Caterpillar’s dividend payout ratio is presently 25.56%.

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.