Van ECK Associates Corp Reduces Holdings in Caterpillar Inc. (NYSE:CAT)

Van ECK Associates Corp lowered its stake in shares of Caterpillar Inc. (NYSE:CAT) by 1.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 99,677 shares of the industrial products company’s stock after selling 1,823 shares during the quarter. Van ECK Associates Corp’s holdings in Caterpillar were worth $36,159,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Nordea Investment Management AB grew its holdings in shares of Caterpillar by 1.6% during the 4th quarter. Nordea Investment Management AB now owns 635,750 shares of the industrial products company’s stock worth $231,686,000 after acquiring an additional 10,212 shares during the period. West Wealth Group LLC purchased a new stake in Caterpillar in the fourth quarter worth $230,000. Citizens Financial Group Inc. RI raised its holdings 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 worth $5,437,000 after purchasing an additional 4,181 shares in the last quarter. Cadinha & Co. LLC purchased a new position in Caterpillar during the fourth quarter valued at $11,084,000. Finally, Atomi Financial Group Inc. boosted its holdings in shares of 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 buying an additional 871 shares in the last quarter. 70.98% of the stock is owned by institutional investors.

Caterpillar Price Performance

CAT opened at $353.97 on Friday. The company’s 50-day simple moving average is $374.12 and its two-hundred day simple moving average is $371.81. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42. The stock 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 52-week low of $307.05 and a 52-week high of $418.50.

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 net margin of 16.65% and a return on equity of 58.18%. As a group, analysts predict that Caterpillar Inc. will post 20.05 EPS for the current year.

Caterpillar Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 1.59%. The ex-dividend date is Tuesday, January 21st. Caterpillar’s payout ratio is currently 25.56%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CAT shares. Citigroup increased their price target on shares of Caterpillar from $420.00 to $430.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. DA Davidson lifted their target price on shares of Caterpillar from $350.00 to $357.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Jefferies Financial Group upped their price target on Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Bank of America lowered their price objective on Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Finally, Truist Financial cut their target price on Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $383.13.

Insider Buying and Selling at Caterpillar

In related news, insider Anthony D. Fassino sold 6,279 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $408.59, for a total value of $2,565,536.61. Following the completion of the transaction, the insider now owns 33,565 shares of the company’s stock, valued at approximately $13,714,323.35. This represents a 15.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Gerald Johnson purchased 100 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was acquired at an average price of $398.57 per share, with a total value 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. 0.29% of the stock is owned by corporate insiders.

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.