Caterpillar Inc. (NYSE:CAT) Shares Sold by Perigon Wealth Management LLC

Perigon Wealth Management LLC lowered its stake in Caterpillar Inc. (NYSE:CAT) by 9.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 20,540 shares of the industrial products company’s stock after selling 2,119 shares during the quarter. Perigon Wealth Management LLC’s holdings in Caterpillar were worth $7,817,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Geode Capital Management LLC grew its stake in shares of Caterpillar by 0.7% in the third quarter. Geode Capital Management LLC now owns 10,213,455 shares of the industrial products company’s stock valued at $3,987,206,000 after buying an additional 67,148 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of Caterpillar by 2.3% in the third quarter. Fisher Asset Management LLC now owns 8,952,632 shares of the industrial products company’s stock valued at $3,501,554,000 after buying an additional 205,012 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Caterpillar by 1.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,627,513 shares of the industrial products company’s stock valued at $1,418,793,000 after buying an additional 64,452 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Caterpillar by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,227,378 shares of the industrial products company’s stock valued at $1,262,290,000 after buying an additional 8,088 shares in the last quarter. Finally, International Assets Investment Management LLC grew its stake in shares of Caterpillar by 39,534.0% in the third quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock valued at $8,356,930,000 after buying an additional 2,131,276 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Activity at Caterpillar

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $380.09, for a total value of $3,800,900.00. Following the sale, the chief financial officer now directly owns 45,182 shares in the company, valued at $17,173,226.38. This trade represents a 18.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Cheryl H. Johnson sold 2,664 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $378.84, for a total value of $1,009,229.76. Following the completion of the sale, the insider now owns 12,951 shares in the company, valued at approximately $4,906,356.84. This represents a 17.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,868 shares of company stock worth $13,480,389 in the last three months. 0.29% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CAT has been the subject of a number of recent analyst reports. Citigroup lowered their price objective on Caterpillar from $460.00 to $420.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Robert W. Baird raised their price objective on Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research note on Thursday, October 31st. Truist Financial lowered their price objective on Caterpillar from $471.00 to $455.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Evercore ISI upgraded Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 price objective for the company in a research note on Monday, January 13th. Finally, Jefferies Financial Group raised their price objective on Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $380.60.

Caterpillar Trading Down 3.2 %

Shares of NYSE CAT opened at $394.60 on Tuesday. The company has a market cap of $190.51 billion, a price-to-earnings ratio of 18.29, a price-to-earnings-growth ratio of 1.97 and a beta of 1.13. Caterpillar Inc. has a 12-month low of $297.45 and a 12-month high of $418.50. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. The stock’s 50 day simple moving average is $381.07 and its 200 day simple moving average is $369.79.

Caterpillar (NYSE:CAT) last announced its quarterly 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). The company had revenue of $16.11 billion during the quarter, compared to the consensus estimate of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period last year, the business posted $5.52 EPS. Equities research analysts expect that Caterpillar Inc. will post 21.69 EPS for the current year.

Caterpillar Announces Dividend

The business also recently declared 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 1.43%. The ex-dividend date is Tuesday, January 21st. Caterpillar’s dividend payout ratio (DPR) is 26.15%.

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.