SteelPeak Wealth LLC Decreases Stake in Caterpillar Inc. (NYSE:CAT)

SteelPeak Wealth LLC lessened its position in shares of Caterpillar Inc. (NYSE:CAT) by 15.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,913 shares of the industrial products company’s stock after selling 2,824 shares during the quarter. SteelPeak Wealth LLC’s holdings in Caterpillar were worth $5,410,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Geode Capital Management LLC raised its stake 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 valued at $3,987,206,000 after purchasing an additional 67,148 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of Caterpillar by 2.3% during the 3rd quarter. Fisher Asset Management LLC now owns 8,952,632 shares of the industrial products company’s stock valued at $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 lifted its holdings in shares of Caterpillar by 1.8% in 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 acquiring an additional 64,452 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position 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 worth $1,262,290,000 after acquiring an additional 8,088 shares in the last quarter. Finally, International Assets Investment Management LLC raised its position 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 valued at $8,356,930,000 after purchasing an additional 2,131,276 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Stock Performance

CAT stock opened at $390.29 on Wednesday. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86. Caterpillar Inc. has a 1-year low of $297.45 and a 1-year high of $418.50. The business has a 50-day moving average price of $381.27 and a 200 day moving average price of $370.23. The company has a market capitalization of $188.43 billion, a P/E ratio of 18.09, a PEG ratio of 1.97 and a beta of 1.13.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.33 by ($0.16). The business had revenue of $16.11 billion for the quarter, compared to analysts’ expectations of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the business earned $5.52 earnings per share. As a group, equities research analysts forecast that Caterpillar Inc. will post 21.69 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Tuesday, January 21st will be given a $1.41 dividend. This represents a $5.64 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend is Tuesday, January 21st. Caterpillar’s payout ratio is 26.15%.

Insider Buying and Selling

In other news, Director Gerald Johnson acquired 100 shares of Caterpillar stock in a transaction that occurred on Wednesday, December 4th. The stock was purchased at an average price of $398.57 per share, for a total transaction of $39,857.00. Following the purchase, the director now directly owns 2,953 shares in the company, valued at $1,176,977.21. The trade was a 3.51 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Lange Bob De sold 12,657 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the completion of the sale, the insider now owns 71,107 shares of the company’s stock, valued at approximately $29,171,646.75. This trade represents a 15.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,868 shares of company stock worth $13,480,389 in the last three months. 0.29% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. UBS Group boosted their target price on Caterpillar from $295.00 to $355.00 and gave the company a “sell” rating in a research report on Tuesday. Truist Financial lowered 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. Morgan Stanley downgraded shares of Caterpillar from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $349.00 to $332.00 in a report on Monday, October 14th. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. Finally, Citigroup cut their target price on Caterpillar from $460.00 to $420.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $384.60.

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.