Caterpillar Inc. (NYSE:CAT) Stake Trimmed by Cullinan Associates Inc.

Cullinan Associates Inc. trimmed its position in Caterpillar Inc. (NYSE:CAT) by 13.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,043 shares of the industrial products company’s stock after selling 5,473 shares during the quarter. Cullinan Associates Inc.’s holdings in Caterpillar were worth $12,712,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in CAT. International Assets Investment Management LLC boosted its holdings 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 acquiring an additional 2,131,276 shares during the period. Zurich Insurance Group Ltd FI increased its holdings in shares of Caterpillar by 4,018.6% during the 3rd quarter. Zurich Insurance Group Ltd FI now owns 255,355 shares of the industrial products company’s stock worth $99,874,000 after purchasing an additional 249,155 shares during the period. Fisher Asset Management LLC lifted its stake in shares of Caterpillar by 2.3% in the third 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 during the period. Caisse DE Depot ET Placement DU Quebec increased its stake in Caterpillar by 34.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 782,133 shares of the industrial products company’s stock valued at $305,908,000 after acquiring an additional 200,210 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Caterpillar by 106.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 317,828 shares of the industrial products company’s stock worth $124,309,000 after purchasing an additional 163,725 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Transactions at Caterpillar

In other news, Director Daniel M. Dickinson sold 1,300 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $418.00, for a total transaction of $543,400.00. Following the completion of the sale, the director now owns 4,976 shares in the company, valued at $2,079,968. The trade was a 20.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Lange Bob De sold 12,657 shares of Caterpillar stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $410.25, for a total value of $5,192,534.25. Following the transaction, the insider now owns 71,107 shares of the company’s stock, valued at $29,171,646.75. This trade represents a 15.11 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,236 shares of company stock worth $12,102,371. Company insiders own 0.29% of the company’s stock.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $361.62 on Tuesday. The firm has a 50 day simple moving average of $380.88 and a 200 day simple moving average of $371.17. The company has a market cap of $174.59 billion, a price-to-earnings ratio of 16.39, a PEG ratio of 1.95 and a beta of 1.12. Caterpillar Inc. has a one year low of $307.05 and a one year high of $418.50. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89.

Caterpillar (NYSE:CAT) last issued its earnings results 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 return on equity of 58.18% and a net margin of 16.65%. Research analysts predict that Caterpillar Inc. will post 21.45 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st will be given a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis 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%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a report on Friday, January 17th. Morgan Stanley dropped their price target on Caterpillar from $330.00 to $300.00 and set an “underweight” rating for the company in a report on Friday. Bank of America cut their price target on Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a report on Friday. Robert W. Baird raised their price target on shares of Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a report on Thursday, October 31st. Finally, Citigroup increased their price objective on Caterpillar from $420.00 to $430.00 and gave the company a “buy” rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Caterpillar presently has an average rating of “Hold” and an average price target of $381.00.

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.