Caterpillar Inc. $CAT Shares Sold by Monetary Management Group Inc.

Monetary Management Group Inc. reduced its holdings in Caterpillar Inc. (NYSE:CAT) by 19.7% during the 1st quarter, Holdings Channel reports. The fund owned 8,212 shares of the industrial products company’s stock after selling 2,015 shares during the period. Monetary Management Group Inc.’s holdings in Caterpillar were worth $2,708,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Pacific Point Advisors LLC purchased a new position in shares of Caterpillar during the 4th quarter valued at about $579,000. Brighton Jones LLC grew its holdings in Caterpillar by 51.5% during the fourth quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company’s stock worth $2,688,000 after acquiring an additional 2,519 shares during the period. Adage Capital Partners GP L.L.C. purchased a new position in Caterpillar during the fourth quarter valued at approximately $26,129,000. Evercore Wealth Management LLC lifted its holdings in Caterpillar by 1.9% in the fourth quarter. Evercore Wealth Management LLC now owns 10,167 shares of the industrial products company’s stock valued at $3,688,000 after acquiring an additional 194 shares during the period. Finally, Burling Wealth Partners LLC purchased a new stake in Caterpillar in the 4th quarter worth approximately $352,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Transactions at Caterpillar

In related news, Director Susan C. Schwab sold 2,324 shares of the company’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $410.00, for a total transaction of $952,840.00. Following the completion of the sale, the director owned 6,917 shares of the company’s stock, valued at approximately $2,835,970. This represents a 25.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jason Kaiser sold 2,161 shares of the firm’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $417.70, for a total transaction of $902,649.70. Following the completion of the transaction, the insider directly owned 8,632 shares in the company, valued at $3,605,586.40. This trade represents a 20.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Truist Financial lifted their target price on shares of Caterpillar from $414.00 to $507.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. UBS Group upgraded shares of Caterpillar from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $272.00 to $357.00 in a research report on Friday, May 16th. Sanford C. Bernstein reissued a “market perform” rating on shares of Caterpillar in a research note on Monday, July 14th. DA Davidson lifted their price target on Caterpillar from $331.00 to $388.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. Finally, Melius Research raised Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price target for the company in a report on Wednesday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $450.87.

Caterpillar Price Performance

NYSE:CAT opened at $417.4240 on Friday. The firm has a market cap of $195.55 billion, a P/E ratio of 21.23, a price-to-earnings-growth ratio of 2.51 and a beta of 1.40. The stock has a 50 day moving average of $404.15 and a two-hundred day moving average of $357.31. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $441.15. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.88 by ($0.16). Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The firm had revenue of $16.57 billion during the quarter, compared to analyst estimates of $16.14 billion. During the same period in the prior year, the firm earned $5.99 earnings per share. The business’s revenue was down .7% on a year-over-year basis. On average, analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st were paid a $1.51 dividend. This is an increase from Caterpillar’s previous quarterly dividend of $1.41. This represents a $6.04 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, July 21st. Caterpillar’s payout ratio is 30.72%.

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.