Caterpillar Inc. (NYSE:CAT) Shares Sold by NewEdge Wealth LLC

NewEdge Wealth LLC decreased its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 18.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,272 shares of the industrial products company’s stock after selling 279 shares during the quarter. NewEdge Wealth LLC’s holdings in Caterpillar were worth $376,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. BCK Partners Inc. purchased a new stake in shares of Caterpillar in the first quarter worth about $2,580,000. Sei Investments Co. lifted its position in Caterpillar by 17.3% during the 1st quarter. Sei Investments Co. now owns 65,643 shares of the industrial products company’s stock worth $14,634,000 after acquiring an additional 9,695 shares in the last quarter. Dakota Wealth Management purchased a new position in Caterpillar in the 1st quarter worth approximately $405,000. Mather Group LLC. grew its position in Caterpillar by 6.8% in the first quarter. Mather Group LLC. now owns 2,592 shares of the industrial products company’s stock valued at $577,000 after acquiring an additional 165 shares in the last quarter. Finally, NewEdge Advisors LLC raised its stake in shares of Caterpillar by 4.4% during the first quarter. NewEdge Advisors LLC now owns 49,705 shares of the industrial products company’s stock valued at $11,075,000 after purchasing an additional 2,076 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $300.04, for a total transaction of $3,000,400.00. Following the sale, the chief financial officer now directly owns 67,317 shares in the company, valued at $20,197,792.68. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Caterpillar news, insider Anthony D. Fassino sold 4,575 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $329.80, for a total value of $1,508,835.00. Following the completion of the sale, the insider now directly owns 23,474 shares of the company’s stock, valued at approximately $7,741,725.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $300.04, for a total transaction of $3,000,400.00. Following the transaction, the chief financial officer now owns 67,317 shares of the company’s stock, valued at approximately $20,197,792.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,769 shares of company stock worth $14,509,306. 0.33% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Sanford C. Bernstein raised their price target on shares of Caterpillar from $216.00 to $245.00 and gave the company a “market perform” rating in a report on Thursday, December 21st. Truist Financial began coverage on Caterpillar in a research report on Thursday, March 14th. They set a “buy” rating and a $390.00 target price on the stock. StockNews.com downgraded Caterpillar from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 20th. Wells Fargo & Company lifted their price objective on Caterpillar from $290.00 to $325.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. Finally, JPMorgan Chase & Co. increased their target price on Caterpillar from $385.00 to $435.00 and gave the company an “overweight” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Caterpillar presently has a consensus rating of “Hold” and an average target price of $307.56.

Caterpillar Stock Performance

Shares of CAT opened at $358.33 on Thursday. The firm has a fifty day moving average of $345.24 and a 200-day moving average of $296.78. The company has a market cap of $178.95 billion, a price-to-earnings ratio of 17.79, a price-to-earnings-growth ratio of 1.62 and a beta of 1.17. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.87 and a current ratio of 1.35. Caterpillar Inc. has a 1 year low of $204.04 and a 1 year high of $382.01.

Caterpillar (NYSE:CAT) last posted its earnings results on Monday, February 5th. The industrial products company reported $5.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.76 by $0.47. Caterpillar had a net margin of 15.41% and a return on equity of 56.99%. The firm had revenue of $17.07 billion during the quarter, compared to analyst estimates of $17.06 billion. During the same period in the previous year, the business posted $3.86 EPS. Caterpillar’s revenue was up 2.8% on a year-over-year basis. As a group, equities analysts anticipate that Caterpillar Inc. will post 21.33 earnings per share for the current year.

Caterpillar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, April 22nd will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend is Friday, April 19th. Caterpillar’s payout ratio is currently 25.82%.

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.