Ascent Wealth Partners LLC Reduces Stock Position in Caterpillar Inc. (NYSE:CAT)

Ascent Wealth Partners LLC lessened its position in Caterpillar Inc. (NYSE:CAT) by 1.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,137 shares of the industrial products company’s stock after selling 187 shares during the quarter. Ascent Wealth Partners LLC’s holdings in Caterpillar were worth $5,854,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Retirement Wealth Solutions LLC bought a new stake in shares of Caterpillar in the 4th quarter worth about $34,000. Capital Performance Advisors LLP bought a new stake in shares of Caterpillar in the 3rd quarter worth about $36,000. Albion Financial Group UT lifted 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. Kimelman & Baird LLC lifted its holdings in shares of Caterpillar by 42.9% in the 3rd quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 30 shares during the last quarter. Finally, Trivant Custom Portfolio Group LLC lifted its holdings in 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 in the last quarter. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Down 2.7 %

Shares of Caterpillar stock opened at $339.84 on Friday. The firm’s 50 day moving average price is $368.73 and its 200-day moving average price is $372.40. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. Caterpillar Inc. has a 52-week low of $307.05 and a 52-week high of $418.50. The company has a market cap of $162.42 billion, a P/E ratio of 15.40, a PEG ratio of 1.87 and a beta of 1.12.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data 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 net margin of 16.65% and a return on equity of 58.18%. On average, sell-side analysts predict that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st were given a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend was Tuesday, January 21st. Caterpillar’s dividend payout ratio is presently 25.56%.

Insiders Place Their Bets

In other Caterpillar news, insider Jason Kaiser sold 2,425 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total transaction of $860,147.50. Following the sale, 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 available at this link. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction that occurred on 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 sale, the chief financial officer now owns 45,182 shares of the company’s stock, valued at approximately $17,173,226.38. The trade was a 18.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,704 shares of company stock valued at $7,226,584. Insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. StockNews.com upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. JPMorgan Chase & Co. decreased their price objective on shares of Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Evercore ISI lifted their price objective on shares of Caterpillar from $365.00 to $375.00 and gave the company an “in-line” rating in a report on Wednesday. Citigroup lifted their price objective on shares of Caterpillar from $420.00 to $430.00 and gave the company a “buy” rating in a report on Friday, January 31st. Finally, Truist Financial decreased their price objective on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $383.80.

Caterpillar Company 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.