Coastwise Capital Group LLC Cuts Stock Position in Caterpillar Inc. (NYSE:CAT)

Coastwise Capital Group LLC decreased its stake in Caterpillar Inc. (NYSE:CAT) by 5.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,649 shares of the industrial products company’s stock after selling 100 shares during the quarter. Coastwise Capital Group LLC’s holdings in Caterpillar were worth $598,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Institute for Wealth Management LLC. increased its stake in Caterpillar by 1.6% during the 4th quarter. Institute for Wealth Management LLC. now owns 5,028 shares of the industrial products company’s stock worth $1,824,000 after buying an additional 78 shares in the last quarter. AA Financial Advisors LLC boosted its stake in shares of Caterpillar by 4.0% in the fourth quarter. AA Financial Advisors LLC now owns 3,740 shares of the industrial products company’s stock worth $1,357,000 after acquiring an additional 144 shares during the last quarter. Evernest Financial Advisors LLC increased its position in shares of Caterpillar by 8.2% during the fourth quarter. Evernest Financial Advisors LLC now owns 4,034 shares of the industrial products company’s stock worth $1,463,000 after purchasing an additional 305 shares in the last quarter. Heritage Financial Services LLC raised its stake in Caterpillar by 4.6% in the 4th quarter. Heritage Financial Services LLC now owns 951 shares of the industrial products company’s stock valued at $345,000 after purchasing an additional 42 shares during the last quarter. Finally, Strategic Advocates LLC purchased a new position in Caterpillar in the 4th quarter valued at $222,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CAT. Evercore ISI upgraded shares of Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 target price for the company in a research report on Monday, January 13th. Jefferies Financial Group increased their price objective on shares of Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a report on Friday, December 6th. Citigroup lowered their target price on Caterpillar from $460.00 to $420.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Robert W. Baird increased their price target on Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a report on Thursday, October 31st. Finally, Truist Financial reduced their price objective on Caterpillar from $471.00 to $455.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $382.47.

Caterpillar Stock Performance

NYSE:CAT opened at $375.98 on Friday. The stock has a market capitalization of $181.52 billion, a P/E ratio of 17.43, a PEG ratio of 2.05 and a beta of 1.13. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40. Caterpillar Inc. has a fifty-two week low of $299.93 and a fifty-two week high of $418.50. The company has a 50 day moving average price of $381.68 and a 200 day moving average price of $370.78.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $5.14 earnings per share for the quarter, beating analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. Equities research analysts forecast that Caterpillar Inc. will post 21.71 EPS for the current year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Tuesday, January 21st will be given a dividend of $1.41 per share. The ex-dividend date is Tuesday, January 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.50%. Caterpillar’s dividend payout ratio is presently 26.15%.

Insiders Place Their Bets

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the sale, the chief financial officer now owns 45,182 shares of the company’s stock, valued at approximately $17,173,226.38. This trade represents a 18.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel M. Dickinson sold 1,300 shares of Caterpillar stock in a transaction 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 sale, the director now owns 4,976 shares in the company, valued at $2,079,968. This represents a 20.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,900 shares of company stock worth $13,111,601 in the last quarter. 0.29% of the stock is 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.