Byrne Asset Management LLC Trims Holdings in Caterpillar Inc. (NYSE:CAT)

Byrne Asset Management LLC reduced its holdings in Caterpillar Inc. (NYSE:CAT) by 0.8% during the 4th quarter, Holdings Channel reports. The fund owned 4,135 shares of the industrial products company’s stock after selling 34 shares during the period. Caterpillar makes up about 1.1% of Byrne Asset Management LLC’s holdings, making the stock its 21st largest holding. Byrne Asset Management LLC’s holdings in Caterpillar were worth $1,500,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Vest Financial LLC grew its stake in shares of Caterpillar by 1.1% during the 4th quarter. Vest Financial LLC now owns 150,834 shares of the industrial products company’s stock worth $54,717,000 after purchasing an additional 1,662 shares during the period. Clientfirst Wealth Management LLC acquired a new position in shares of Caterpillar during the 4th quarter worth about $300,000. Shepherd Financial Partners LLC lifted its position in shares of Caterpillar by 1.9% in the fourth quarter. Shepherd Financial Partners LLC now owns 5,894 shares of the industrial products company’s stock valued at $2,138,000 after acquiring an additional 110 shares in the last quarter. SOA Wealth Advisors LLC. boosted its stake in Caterpillar by 49.4% during the 4th quarter. SOA Wealth Advisors LLC. now owns 233 shares of the industrial products company’s stock worth $85,000 after purchasing an additional 77 shares during the last quarter. Finally, Slocum Gordon & Co LLP boosted its position in Caterpillar by 400.0% during the fourth quarter. Slocum Gordon & Co LLP now owns 2,500 shares of the industrial products company’s stock worth $907,000 after acquiring an additional 2,000 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Jefferies Financial Group lifted their price target on Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Bank of America lowered their price target on Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a report on Friday, January 31st. Truist Financial decreased their target price on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Evercore ISI upgraded shares of Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 price target for the company in a research report on Monday, January 13th. Finally, JPMorgan Chase & Co. decreased 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, January 31st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $383.13.

Insiders Place Their Bets

In related news, Director Gerald Johnson acquired 100 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was bought at an average price of $365.57 per share, for a total transaction of $36,557.00. Following the completion of the purchase, the director now directly owns 3,053 shares of the company’s stock, valued at approximately $1,116,085.21. The trade was a 3.39 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction dated 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 sale, the chief financial officer now owns 45,182 shares in the company, valued at $17,173,226.38. This trade represents a 18.12 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is owned by company insiders.

Caterpillar Stock Performance

Shares of CAT opened at $363.84 on Friday. Caterpillar Inc. has a 1 year low of $307.05 and a 1 year high of $418.50. The stock has a market capitalization of $175.66 billion, a PE ratio of 16.49, a PEG ratio of 1.95 and a beta of 1.12. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42. The stock has a 50-day simple moving average of $377.44 and a 200-day simple moving average of $371.18.

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

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st will be paid a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Tuesday, January 21st. Caterpillar’s dividend payout ratio is presently 25.56%.

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.