Diversify Advisory Services LLC Reduces Position in Caterpillar Inc. (NYSE:CAT)

Diversify Advisory Services LLC trimmed its position in Caterpillar Inc. (NYSE:CAT) by 14.7% in the 4th quarter, HoldingsChannel reports. The firm owned 2,543 shares of the industrial products company’s stock after selling 437 shares during the quarter. Diversify Advisory Services LLC’s holdings in Caterpillar were worth $893,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of CAT. Smallwood Wealth Investment Management LLC increased its stake in shares of Caterpillar by 2.6% in the third quarter. Smallwood Wealth Investment Management LLC now owns 1,037 shares of the industrial products company’s stock worth $405,000 after acquiring an additional 26 shares during the period. First Bank & Trust boosted its holdings in Caterpillar by 4.0% in the third quarter. First Bank & Trust now owns 709 shares of the industrial products company’s stock valued at $277,000 after purchasing an additional 27 shares during the last quarter. Washington Trust Bank grew its position in Caterpillar by 1.2% during the 3rd quarter. Washington Trust Bank now owns 2,349 shares of the industrial products company’s stock worth $919,000 after purchasing an additional 27 shares during the period. Channel Wealth LLC lifted its holdings in shares of Caterpillar by 1.9% in the 4th quarter. Channel Wealth LLC now owns 1,468 shares of the industrial products company’s stock valued at $533,000 after buying an additional 27 shares during the period. Finally, Pacifica Partners Inc. boosted its stake in shares of Caterpillar by 1.6% in the third quarter. Pacifica Partners Inc. now owns 1,807 shares of the industrial products company’s stock worth $707,000 after buying an additional 28 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

CAT has been the subject of a number of analyst reports. StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a report on Friday. JPMorgan Chase & Co. increased their price target on shares of Caterpillar from $500.00 to $515.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Evercore ISI raised shares of Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 price objective for the company in a report on Monday, January 13th. Truist Financial lowered their target price on shares of Caterpillar from $471.00 to $455.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Finally, Morgan Stanley downgraded Caterpillar from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $349.00 to $332.00 in a research report on Monday, October 14th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Caterpillar currently has an average rating of “Hold” and a consensus price target of $380.60.

Caterpillar Trading Up 1.4 %

Shares of Caterpillar stock opened at $386.03 on Tuesday. Caterpillar Inc. has a 1-year low of $277.66 and a 1-year high of $418.50. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86. The stock has a market cap of $186.38 billion, a P/E ratio of 17.90, a P/E/G ratio of 1.72 and a beta of 1.13. The stock’s 50 day simple moving average is $380.09 and its 200-day simple moving average is $367.29.

Caterpillar (NYSE:CAT) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.33 by ($0.16). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The company had revenue of $16.11 billion during the quarter, compared to analysts’ expectations of $16.37 billion. During the same quarter in the previous year, the company earned $5.52 earnings per share. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year. Analysts predict that Caterpillar Inc. will post 21.68 EPS for the current fiscal year.

Caterpillar Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st will be issued a $1.41 dividend. The ex-dividend date is Tuesday, January 21st. This represents a $5.64 annualized dividend and a yield of 1.46%. Caterpillar’s payout ratio is 26.15%.

Insider Transactions at Caterpillar

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the completion of the sale, the chief financial officer now directly owns 45,182 shares of the company’s stock, valued at approximately $17,173,226.38. This trade represents a 18.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO William E. Schaupp sold 968 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $380.98, for a total transaction of $368,788.64. Following the completion of the transaction, the chief accounting officer now directly owns 1,686 shares in the company, valued at $642,332.28. The trade was a 36.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,868 shares of company stock worth $13,480,389 in the last 90 days. Insiders own 0.29% of the company’s stock.

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.