Pathstone Holdings LLC Decreases Holdings in Caterpillar Inc. (NYSE:CAT)

Pathstone Holdings LLC lowered its stake in Caterpillar Inc. (NYSE:CAT) by 1.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 65,139 shares of the industrial products company’s stock after selling 1,041 shares during the period. Pathstone Holdings LLC’s holdings in Caterpillar were worth $23,623,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. West Wealth Group LLC purchased a new position in shares of Caterpillar in the fourth quarter worth $230,000. Cadinha & Co. LLC purchased a new position in Caterpillar during the 4th quarter valued at about $11,084,000. Atomi Financial Group Inc. increased its holdings in Caterpillar by 3.9% during the 4th 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 during the period. Proficio Capital Partners LLC increased its position in Caterpillar by 38.3% during the 4th quarter. Proficio Capital Partners LLC now owns 2,218 shares of the industrial products company’s stock valued at $805,000 after purchasing an additional 614 shares during the period. Finally, Zhang Financial LLC increased its position in Caterpillar by 8.7% during the 4th quarter. Zhang Financial LLC now owns 9,158 shares of the industrial products company’s stock valued at $3,322,000 after purchasing an additional 736 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. UBS Group raised shares of Caterpillar from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $355.00 to $385.00 in a research report on Monday, February 3rd. Truist Financial reiterated a “buy” rating and set a $396.00 target price (up previously from $389.00) on shares of Caterpillar in a report on Thursday, May 1st. JPMorgan Chase & Co. reduced their target price on Caterpillar from $490.00 to $380.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Evercore ISI upped their target price on Caterpillar from $365.00 to $375.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. Finally, Morgan Stanley upgraded Caterpillar from an “underweight” rating to an “equal weight” rating and reduced their target price for the stock from $300.00 to $283.00 in a report on Wednesday, April 16th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $377.83.

Insider Buying and Selling at Caterpillar

In related news, Director David Maclennan purchased 375 shares of the company’s stock in a transaction dated Wednesday, May 7th. The shares were purchased at an average price of $320.70 per share, with a total value of $120,262.50. Following the acquisition, the director now directly owns 6,653 shares in the company, valued at $2,133,617.10. The trade was a 5.97% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jason Kaiser sold 2,425 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total transaction of $860,147.50. Following the sale, the insider now directly owns 6,275 shares in the company, valued at approximately $2,225,742.50. The trade was a 27.87% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

Caterpillar Stock Performance

Shares of CAT stock opened at $349.83 on Thursday. Caterpillar Inc. has a one year low of $267.30 and a one year high of $418.50. The company’s 50-day moving average is $317.05 and its 200 day moving average is $354.61. The company has a market capitalization of $164.78 billion, a price-to-earnings ratio of 15.85, a price-to-earnings-growth ratio of 1.87 and a beta of 1.35. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $4.25 EPS for the quarter, missing the consensus estimate of $4.35 by ($0.10). Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. The firm had revenue of $14.25 billion for the quarter, compared to analysts’ expectations of $14.64 billion. During the same period last year, the company posted $5.60 earnings per share. The business’s revenue for the quarter was down 9.8% compared to the same quarter last year. Sell-side analysts expect that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Monday, April 21st will be paid a dividend of $1.41 per share. The ex-dividend date is Monday, April 21st. This represents a $5.64 annualized dividend and a yield of 1.61%. Caterpillar’s dividend payout ratio is 27.49%.

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.