NBC Securities Inc. Lowers Stake in Caterpillar Inc. (NYSE:CAT)

NBC Securities Inc. lowered its stake in shares of Caterpillar Inc. (NYSE:CATFree Report) by 5.1% in the first quarter, HoldingsChannel.com reports. The firm owned 6,393 shares of the industrial products company’s stock after selling 342 shares during the period. NBC Securities Inc.’s holdings in Caterpillar were worth $2,342,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Waterway Wealth Management LLC purchased a new stake in shares of Caterpillar during the 4th quarter worth $352,000. Farmers Trust Co. grew its position in Caterpillar by 2.7% during the fourth quarter. Farmers Trust Co. now owns 4,490 shares of the industrial products company’s stock worth $1,328,000 after buying an additional 120 shares during the period. Firethorn Wealth Partners LLC grew its position in Caterpillar by 19.4% during the fourth quarter. Firethorn Wealth Partners LLC now owns 1,825 shares of the industrial products company’s stock worth $540,000 after buying an additional 296 shares during the period. Axxcess Wealth Management LLC lifted its holdings in shares of Caterpillar by 20.0% in the fourth quarter. Axxcess Wealth Management LLC now owns 21,343 shares of the industrial products company’s stock valued at $6,310,000 after purchasing an additional 3,558 shares in the last quarter. Finally, Rise Advisors LLC lifted its holdings in shares of Caterpillar by 7.8% in the fourth quarter. Rise Advisors LLC now owns 1,074 shares of the industrial products company’s stock valued at $318,000 after purchasing an additional 78 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on CAT shares. TD Cowen upped their price target on shares of Caterpillar from $338.00 to $340.00 and gave the company a “buy” rating in a report on Friday, April 26th. JPMorgan Chase & Co. upped their price target on shares of Caterpillar from $385.00 to $435.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. Stifel Nicolaus downgraded shares of Caterpillar from a “buy” rating to a “hold” rating and upped their price target for the company from $293.00 to $350.00 in a report on Friday, April 26th. Truist Financial started coverage on shares of Caterpillar in a report on Thursday, March 14th. They issued a “buy” rating and a $390.00 price target on the stock. Finally, StockNews.com downgraded shares of Caterpillar from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $323.35.

Check Out Our Latest Analysis on Caterpillar

Insider Transactions at Caterpillar

In other news, insider Lange Bob De sold 21,847 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $356.90, for a total value of $7,797,194.30. Following the completion of the sale, the insider now owns 71,115 shares of the company’s stock, valued at $25,380,943.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Cheryl H. Johnson sold 1,508 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $340.00, for a total transaction of $512,720.00. Following the completion of the sale, the insider now directly owns 20,023 shares of the company’s stock, valued at approximately $6,807,820. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Lange Bob De sold 21,847 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $356.90, for a total transaction of $7,797,194.30. Following the sale, the insider now directly owns 71,115 shares of the company’s stock, valued at $25,380,943.50. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Caterpillar Trading Up 0.8 %

NYSE:CAT traded up $2.74 during trading hours on Wednesday, reaching $325.14. 3,275,381 shares of the company were exchanged, compared to its average volume of 3,106,831. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.35 and a quick ratio of 0.83. The firm has a market cap of $159.01 billion, a price-to-earnings ratio of 14.68, a PEG ratio of 1.65 and a beta of 1.14. Caterpillar Inc. has a 52-week low of $223.76 and a 52-week high of $382.01. The stock has a 50 day simple moving average of $345.85 and a 200 day simple moving average of $325.57.

Caterpillar (NYSE:CATGet Free Report) last posted its quarterly earnings results on Thursday, April 25th. The industrial products company reported $5.60 earnings per share for the quarter, topping analysts’ consensus estimates of $5.12 by $0.48. The company had revenue of $15.80 billion for the quarter, compared to the consensus estimate of $16.07 billion. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. As a group, analysts predict that Caterpillar Inc. will post 21.81 EPS for the current year.

Caterpillar Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Monday, July 22nd will be given a $1.41 dividend. The ex-dividend date is Monday, July 22nd. This represents a $5.64 annualized dividend and a dividend yield of 1.73%. This is a positive change from Caterpillar’s previous quarterly dividend of $1.30. Caterpillar’s dividend payout ratio is presently 23.48%.

Caterpillar announced that its board has authorized a share buyback plan on Wednesday, June 12th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the industrial products company to repurchase up to 12.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

About Caterpillar

(Free Report)

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.

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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