Berkshire Bank lessened its stake in shares of Caterpillar Inc. (NYSE:CAT – Free Report) by 2.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,502 shares of the industrial products company’s stock after selling 160 shares during the period. Berkshire Bank’s holdings in Caterpillar were worth $2,721,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CAT. Retirement Wealth Solutions LLC acquired a new position in Caterpillar in the fourth quarter valued at about $34,000. Capital Performance Advisors LLP acquired a new position in shares of Caterpillar in the 3rd quarter valued at approximately $36,000. Albion Financial Group UT lifted its holdings in shares of Caterpillar by 334.8% during the 4th quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 77 shares during the period. Kimelman & Baird LLC increased its stake in Caterpillar by 42.9% in 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 last quarter. Finally, Trivant Custom Portfolio Group LLC lifted its stake in Caterpillar by 130.0% during the fourth quarter. Trivant Custom Portfolio Group LLC now owns 115 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 65 shares during the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.
Caterpillar Stock Down 3.2 %
Caterpillar stock opened at $394.60 on Tuesday. The firm has a market cap of $190.51 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 1.97 and a beta of 1.13. Caterpillar Inc. has a 52-week low of $297.45 and a 52-week high of $418.50. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40. The firm has a 50 day moving average price of $381.07 and a two-hundred day moving average price of $369.79.
Caterpillar Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st will be paid a $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend is Tuesday, January 21st. Caterpillar’s dividend payout ratio (DPR) is presently 26.15%.
Insiders Place Their Bets
In other Caterpillar news, CAO William E. Schaupp sold 968 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $380.98, for a total value of $368,788.64. Following the completion of the sale, the chief accounting officer now owns 1,686 shares of the company’s stock, valued at approximately $642,332.28. This trade represents a 36.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $380.09, for a total value of $3,800,900.00. Following the transaction, the chief financial officer now directly 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 disclosure for this sale can be found here. In the last three months, insiders have sold 33,868 shares of company stock worth $13,480,389. Corporate insiders own 0.29% of the company’s stock.
Analysts Set New Price Targets
CAT has been the topic of several recent analyst reports. Jefferies Financial Group lifted their price target on Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a research note on Friday, December 6th. UBS Group boosted their target price on Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a research note on Monday, November 4th. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. Bank of America increased their price objective on shares of Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Finally, Robert W. Baird boosted their target price on shares of Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research note on Thursday, October 31st. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $380.60.
Get Our Latest Stock Analysis on Caterpillar
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.
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