Kanawha Capital Management LLC Sells 250 Shares of Caterpillar Inc. (NYSE:CAT)

Kanawha Capital Management LLC cut its position in shares of Caterpillar Inc. (NYSE:CAT) by 0.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 28,038 shares of the industrial products company’s stock after selling 250 shares during the period. Kanawha Capital Management LLC’s holdings in Caterpillar were worth $10,171,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Nordea Investment Management AB grew its stake in Caterpillar by 1.6% in the fourth quarter. Nordea Investment Management AB now owns 635,750 shares of the industrial products company’s stock valued at $231,686,000 after purchasing an additional 10,212 shares in the last quarter. West Wealth Group LLC bought a new position in Caterpillar in the fourth quarter valued at approximately $230,000. Citizens Financial Group Inc. RI grew its stake in Caterpillar by 43.0% in the third quarter. Citizens Financial Group Inc. RI now owns 13,902 shares of the industrial products company’s stock valued at $5,437,000 after purchasing an additional 4,181 shares in the last quarter. Cadinha & Co. LLC bought a new position in Caterpillar in the fourth quarter valued at approximately $11,084,000. Finally, Atomi Financial Group Inc. grew its stake in Caterpillar by 3.9% in the fourth quarter. Atomi Financial Group Inc. now owns 23,193 shares of the industrial products company’s stock valued at $8,414,000 after purchasing an additional 871 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. UBS Group upgraded Caterpillar from a “sell” rating to a “neutral” rating and raised their price target for the company from $355.00 to $385.00 in a research note on Monday, February 3rd. Bank of America cut their price objective on Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Truist Financial cut their price objective on Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. DA Davidson lifted their price target on Caterpillar from $350.00 to $357.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Finally, Citigroup lifted their price objective on Caterpillar from $420.00 to $430.00 and gave the company a “buy” rating in a report on Friday, January 31st. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $383.13.

Caterpillar Trading Up 0.5 %

Shares of CAT stock opened at $353.97 on Friday. The firm has a market capitalization of $170.90 billion, a P/E ratio of 16.04, a P/E/G ratio of 1.94 and a beta of 1.12. Caterpillar Inc. has a twelve month low of $307.05 and a twelve month high of $418.50. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. The stock’s fifty day simple moving average is $374.12 and its 200 day simple moving average is $371.81.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 EPS for the quarter, beating 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%. As a group, sell-side analysts predict that Caterpillar Inc. will post 20.05 EPS for the current fiscal year.

Caterpillar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st will be given a $1.41 dividend. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.59%. Caterpillar’s dividend payout ratio (DPR) is presently 25.56%.

Insider Buying and Selling at Caterpillar

In other news, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $17,173,226.38. The trade was a 18.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gerald Johnson acquired 100 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was acquired at an average cost of $398.57 per share, for a total transaction of $39,857.00. Following the completion of the purchase, the director now directly owns 2,953 shares in the company, valued at $1,176,977.21. This trade represents a 3.51 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.29% of the company’s stock.

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.