Spinnaker Trust Decreases Holdings in Caterpillar Inc. (NYSE:CAT)

Spinnaker Trust trimmed its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 8.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,310 shares of the industrial products company’s stock after selling 1,900 shares during the period. Spinnaker Trust’s holdings in Caterpillar were worth $7,730,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new stake in Caterpillar during the 3rd quarter worth about $36,000. Retirement Wealth Solutions LLC purchased a new stake in Caterpillar during the 4th quarter worth about $34,000. Kimelman & Baird LLC lifted its holdings in shares of Caterpillar by 42.9% in the 3rd quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 30 shares during the last quarter. Albion Financial Group UT lifted its holdings in shares of Caterpillar by 334.8% in the 4th quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 77 shares during the last quarter. Finally, Trivant Custom Portfolio Group LLC lifted its holdings in shares of Caterpillar by 130.0% in the 4th quarter. Trivant Custom Portfolio Group LLC now owns 115 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 65 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Gerald Johnson purchased 100 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were acquired at an average price of $398.57 per share, for a total transaction of $39,857.00. Following the acquisition, the director now directly owns 2,953 shares in the company, valued at approximately $1,176,977.21. The trade was a 3.51 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 shares were sold at an average price of $380.09, for a total value of $3,800,900.00. Following the completion of the sale, the chief financial officer now directly owns 45,182 shares in the company, valued at approximately $17,173,226.38. The trade was a 18.12 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

Caterpillar Stock Performance

NYSE CAT opened at $353.31 on Friday. The stock has a market capitalization of $170.58 billion, a price-to-earnings ratio of 16.01, a PEG ratio of 1.94 and a beta of 1.12. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40. The business’s 50 day moving average is $373.30 and its two-hundred day moving average is $371.69. Caterpillar Inc. has a 12-month low of $307.05 and a 12-month high of $418.50.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share for the quarter, topping 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%. Research analysts expect that Caterpillar Inc. will post 20.05 EPS for the current year.

Caterpillar Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Jefferies Financial Group boosted their target price on Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a report on Friday, December 6th. StockNews.com raised Caterpillar from a “hold” rating to a “buy” rating in a report on Tuesday. Evercore ISI raised Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 target price for the company in a report on Monday, January 13th. UBS Group raised Caterpillar from a “sell” rating to a “neutral” rating and boosted their target price for the company from $355.00 to $385.00 in a report on Monday, February 3rd. Finally, Truist Financial dropped their price target on Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $383.13.

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.