Caterpillar Inc. (NYSE:CAT) Stock Position Reduced by Global Trust Asset Management LLC

Global Trust Asset Management LLC cut its stake in Caterpillar Inc. (NYSE:CAT) by 3.3% during the fourth quarter, HoldingsChannel reports. The fund owned 9,090 shares of the industrial products company’s stock after selling 307 shares during the quarter. Caterpillar comprises approximately 1.3% of Global Trust Asset Management LLC’s holdings, making the stock its 17th biggest position. Global Trust Asset Management LLC’s holdings in Caterpillar were worth $3,298,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new position in Caterpillar during the 3rd quarter valued at $36,000. Retirement Wealth Solutions LLC acquired a new stake in Caterpillar during the fourth quarter worth about $34,000. Kimelman & Baird LLC increased its stake in Caterpillar by 42.9% during the third quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 30 shares during the period. Trivant Custom Portfolio Group LLC raised its holdings in Caterpillar by 130.0% in the 4th quarter. Trivant Custom Portfolio Group LLC now owns 115 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 65 shares in the last quarter. Finally, SOA Wealth Advisors LLC. grew its holdings in shares of Caterpillar by 47.2% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 156 shares of the industrial products company’s stock worth $61,000 after purchasing an additional 50 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Stock Up 3.3 %

NYSE CAT opened at $398.67 on Wednesday. Caterpillar Inc. has a fifty-two week low of $286.10 and a fifty-two week high of $418.50. The business has a fifty day moving average price of $379.88 and a two-hundred day moving average price of $367.68. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86. The stock has a market capitalization of $192.48 billion, a PE ratio of 18.48, a PEG ratio of 1.91 and a beta of 1.13.

Caterpillar (NYSE:CAT) last released its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The business had revenue of $16.11 billion during the quarter, compared to the consensus estimate of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The business’s revenue was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.52 EPS. Equities analysts expect that Caterpillar Inc. will post 21.69 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders 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 dividend yield of 1.41%. The ex-dividend date is Tuesday, January 21st. Caterpillar’s payout ratio is 26.15%.

Insider Activity at Caterpillar

In other news, insider Lange Bob De sold 12,657 shares of the firm’s stock in a transaction 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 transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gerald Johnson bought 100 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were bought at an average cost of $398.57 per share, with a total value of $39,857.00. Following the completion of the transaction, the director now owns 2,953 shares in the company, valued at $1,176,977.21. The trade was a 3.51 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 33,868 shares of company stock valued at $13,480,389 in the last 90 days. 0.29% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CAT shares. Morgan Stanley cut shares of Caterpillar from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $349.00 to $332.00 in a research note on Monday, October 14th. Robert W. Baird upped 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 raised their target price on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Truist Financial dropped their price objective on Caterpillar from $471.00 to $455.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Finally, JPMorgan Chase & Co. lifted their price objective on Caterpillar from $500.00 to $515.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Caterpillar has an average rating of “Hold” and an average target price of $380.60.

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.