Sage Investment Advisers LLC Decreases Stake in Caterpillar Inc. (NYSE:CAT)

Sage Investment Advisers LLC decreased its position in Caterpillar Inc. (NYSE:CAT) by 7.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,209 shares of the industrial products company’s stock after selling 94 shares during the period. Sage Investment Advisers LLC’s holdings in Caterpillar were worth $357,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fisher Asset Management LLC raised its holdings in shares of Caterpillar by 2.3% in the 4th quarter. Fisher Asset Management LLC now owns 8,145,840 shares of the industrial products company’s stock worth $2,408,481,000 after purchasing an additional 179,908 shares during the period. Northern Trust Corp raised its holdings in Caterpillar by 1.6% during the 3rd quarter. Northern Trust Corp now owns 6,962,809 shares of the industrial products company’s stock valued at $1,900,847,000 after acquiring an additional 111,384 shares during the period. Morgan Stanley raised its holdings in Caterpillar by 0.7% during the 3rd quarter. Morgan Stanley now owns 6,830,849 shares of the industrial products company’s stock valued at $1,864,823,000 after acquiring an additional 47,258 shares during the period. FMR LLC raised its holdings in Caterpillar by 14.9% during the 3rd quarter. FMR LLC now owns 6,038,207 shares of the industrial products company’s stock valued at $1,648,431,000 after acquiring an additional 781,111 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Caterpillar by 19.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,264,635 shares of the industrial products company’s stock valued at $947,875,000 after acquiring an additional 529,420 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insiders Place Their Bets

In other Caterpillar news, Director David Maclennan acquired 350 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were acquired at an average price of $323.37 per share, for a total transaction of $113,179.50. Following the completion of the acquisition, the director now owns 5,238 shares in the company, valued at $1,693,812.06. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director David Maclennan purchased 350 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were purchased at an average price of $323.37 per share, for a total transaction of $113,179.50. Following the completion of the acquisition, the director now directly owns 5,238 shares in the company, valued at approximately $1,693,812.06. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Anthony D. Fassino sold 4,575 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $329.80, for a total transaction of $1,508,835.00. Following the sale, the insider now owns 23,474 shares in the company, valued at approximately $7,741,725.20. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Trading Down 0.1 %

CAT stock traded down $0.50 during trading on Wednesday, reaching $344.50. The company had a trading volume of 2,256,815 shares, compared to its average volume of 2,500,179. Caterpillar Inc. has a 52 week low of $205.60 and a 52 week high of $382.01. The company has a market cap of $168.48 billion, a P/E ratio of 15.53, a PEG ratio of 1.44 and a beta of 1.19. The business has a 50 day moving average of $352.57 and a 200 day moving average of $304.94. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.35 and a quick ratio of 0.83.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Thursday, April 25th. The industrial products company reported $5.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.12 by $0.48. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. The company had revenue of $15.80 billion during the quarter, compared to the consensus estimate of $16.07 billion. As a group, sell-side analysts forecast that Caterpillar Inc. will post 21.79 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, April 22nd will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date is Friday, April 19th. Caterpillar’s dividend payout ratio (DPR) is presently 23.48%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. TD Cowen boosted their target price on shares of Caterpillar from $338.00 to $340.00 and gave the company a “buy” rating in a report on Friday, April 26th. Oppenheimer reissued a “market perform” rating on shares of Caterpillar in a report on Thursday, April 18th. Truist Financial started coverage on shares of Caterpillar in a research report on Thursday, March 14th. They set a “buy” rating and a $390.00 price target for the company. Robert W. Baird upped their target price on shares of Caterpillar from $210.00 to $257.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 6th. Finally, The Goldman Sachs Group upped their target price on shares of Caterpillar from $357.00 to $408.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Caterpillar has an average rating of “Hold” and an average target price of $323.35.

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.