Manchester Capital Management LLC Has $365,000 Position in Caterpillar Inc. (NYSE:CAT)

Manchester Capital Management LLC lessened its stake in shares of Caterpillar Inc. (NYSE:CAT) by 69.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,005 shares of the industrial products company’s stock after selling 2,300 shares during the quarter. Manchester Capital Management LLC’s holdings in Caterpillar were worth $365,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of CAT. FSM Wealth Advisors LLC grew its position in Caterpillar by 3.8% during the fourth quarter. FSM Wealth Advisors LLC now owns 688 shares of the industrial products company’s stock valued at $262,000 after acquiring an additional 25 shares during the last quarter. Smallwood Wealth Investment Management LLC lifted its position in Caterpillar by 2.6% during the third quarter. Smallwood Wealth Investment Management LLC now owns 1,037 shares of the industrial products company’s stock valued at $405,000 after buying an additional 26 shares during the period. Allen Capital Group LLC lifted its position in Caterpillar by 0.6% during the fourth quarter. Allen Capital Group LLC now owns 4,247 shares of the industrial products company’s stock valued at $1,541,000 after buying an additional 26 shares during the period. Wagner Wealth Management LLC lifted its position in Caterpillar by 4.0% during the fourth quarter. Wagner Wealth Management LLC now owns 668 shares of the industrial products company’s stock valued at $242,000 after buying an additional 26 shares during the period. Finally, First Bank & Trust raised its position in shares of Caterpillar by 4.0% in the 3rd quarter. First Bank & Trust now owns 709 shares of the industrial products company’s stock worth $277,000 after purchasing an additional 27 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Stock Down 0.1 %

Shares of NYSE CAT opened at $353.31 on Friday. The stock has a market cap of $170.58 billion, a PE ratio of 16.01, a price-to-earnings-growth ratio of 1.94 and a beta of 1.12. 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 business has a 50-day moving average price of $373.30 and a 200 day moving average price of $371.69.

Caterpillar (NYSE:CAT) last announced its earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts forecast that Caterpillar Inc. will post 20.05 earnings per share for the current year.

Caterpillar Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Tuesday, January 21st will be paid a $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 1.60%. The ex-dividend date is Tuesday, January 21st. Caterpillar’s payout ratio is currently 25.56%.

Wall Street Analysts Forecast Growth

CAT has been the subject of several research analyst reports. DA Davidson lifted their price objective on Caterpillar from $350.00 to $357.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. StockNews.com raised Caterpillar from a “hold” rating to a “buy” rating in a research report on Tuesday. Evercore ISI upgraded Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 price target for the company in a research note on Monday, January 13th. Jefferies Financial Group increased their target price on Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, Truist Financial lowered their target price on Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Caterpillar presently has an average rating of “Hold” and a consensus target price of $383.13.

Insider Activity at Caterpillar

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the transaction, the chief financial officer now owns 45,182 shares in the company, valued at $17,173,226.38. The trade was a 18.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Anthony D. Fassino sold 6,279 shares of Caterpillar stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $408.59, for a total value of $2,565,536.61. Following the sale, the insider now directly owns 33,565 shares in the company, valued at approximately $13,714,323.35. The trade was a 15.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by company insiders.

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.