Western Wealth Management LLC Trims Stake in Caterpillar Inc. (NYSE:CAT)

Western Wealth Management LLC cut its stake in shares of Caterpillar Inc. (NYSE:CAT) by 2.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,626 shares of the industrial products company’s stock after selling 184 shares during the period. Western Wealth Management LLC’s holdings in Caterpillar were worth $1,959,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Gray Wealth Management Inc. increased its position in Caterpillar by 2.1% during the 4th quarter. Gray Wealth Management Inc. now owns 3,136 shares of the industrial products company’s stock worth $927,000 after purchasing an additional 65 shares during the period. AIA Group Ltd increased its position in Caterpillar by 25.9% during the 4th quarter. AIA Group Ltd now owns 29,837 shares of the industrial products company’s stock worth $8,822,000 after purchasing an additional 6,146 shares during the period. Investors Asset Management of Georgia Inc. GA ADV increased its position in Caterpillar by 8.6% during the 4th quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 8,493 shares of the industrial products company’s stock worth $2,504,000 after purchasing an additional 675 shares during the period. Federated Hermes Inc. increased its position in Caterpillar by 4.8% during the 4th quarter. Federated Hermes Inc. now owns 175,426 shares of the industrial products company’s stock worth $51,868,000 after purchasing an additional 8,102 shares during the period. Finally, Wright Investors Service Inc. grew its holdings in shares of Caterpillar by 22.0% in the 4th quarter. Wright Investors Service Inc. now owns 14,135 shares of the industrial products company’s stock worth $4,179,000 after acquiring an additional 2,553 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Lange Bob De sold 21,194 shares of Caterpillar stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $325.52, for a total transaction of $6,899,070.88. Following the sale, the insider now owns 61,092 shares of the company’s stock, valued at $19,886,667.84. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $310.10, for a total transaction of $3,101,000.00. Following the transaction, the chief financial officer now owns 57,317 shares in the company, valued at $17,774,001.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Lange Bob De sold 21,194 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $325.52, for a total transaction of $6,899,070.88. Following the transaction, the insider now owns 61,092 shares in the company, valued at approximately $19,886,667.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,769 shares of company stock valued at $14,509,306. Insiders own 0.33% of the company’s stock.

Caterpillar Stock Up 0.2 %

Shares of Caterpillar stock traded up $0.77 during trading hours on Friday, hitting $357.40. 607,557 shares of the company’s stock traded hands, compared to its average volume of 2,407,422. The stock has a 50 day simple moving average of $345.95 and a 200-day simple moving average of $297.21. The company has a quick ratio of 0.87, a current ratio of 1.35 and a debt-to-equity ratio of 1.25. The company has a market cap of $178.49 billion, a PE ratio of 17.77, a PEG ratio of 1.59 and a beta of 1.17. Caterpillar Inc. has a twelve month low of $204.04 and a twelve month high of $382.01.

Caterpillar (NYSE:CAT) last announced its earnings results on Monday, February 5th. The industrial products company reported $5.23 earnings per share for the quarter, beating the consensus estimate of $4.76 by $0.47. The company had revenue of $17.07 billion during the quarter, compared to the consensus estimate of $17.06 billion. Caterpillar had a return on equity of 56.99% and a net margin of 15.41%. The company’s revenue was up 2.8% on a year-over-year basis. During the same period last year, the firm earned $3.86 earnings per share. Equities research analysts anticipate that Caterpillar Inc. will post 21.4 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, April 22nd will be issued a dividend of $1.30 per share. The ex-dividend date is Friday, April 19th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 1.45%. Caterpillar’s dividend payout ratio (DPR) is presently 25.82%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CAT. Truist Financial began coverage on Caterpillar in a report on Thursday, March 14th. They issued a “buy” rating and a $390.00 price target on the stock. StockNews.com cut Caterpillar from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 20th. Citigroup upped their price target on Caterpillar from $255.00 to $340.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. TD Cowen upped their price target on Caterpillar from $300.00 to $338.00 and gave the stock an “outperform” rating in a report on Tuesday, February 6th. Finally, Evercore ISI lowered Caterpillar from an “outperform” rating to an “in-line” rating and upped their target price for the company from $321.00 to $338.00 in a research note on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $307.56.

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.