Cullinan Associates Inc. Sells 5,473 Shares of Caterpillar Inc. (NYSE:CAT)

Cullinan Associates Inc. reduced its position in Caterpillar Inc. (NYSE:CAT) by 13.5% during the fourth quarter, HoldingsChannel reports. The fund owned 35,043 shares of the industrial products company’s stock after selling 5,473 shares during the quarter. Cullinan Associates Inc.’s holdings in Caterpillar were worth $12,712,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its stake in Caterpillar by 39,534.0% in the 3rd 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. Zurich Insurance Group Ltd FI lifted its stake in Caterpillar by 4,018.6% in the 3rd quarter. Zurich Insurance Group Ltd FI now owns 255,355 shares of the industrial products company’s stock worth $99,874,000 after purchasing an additional 249,155 shares in the last quarter. Fisher Asset Management LLC boosted its stake in Caterpillar by 2.3% during 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 during the period. Caisse DE Depot ET Placement DU Quebec increased its stake in Caterpillar by 34.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 782,133 shares of the industrial products company’s stock worth $305,908,000 after acquiring an additional 200,210 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of Caterpillar by 106.2% in the third quarter. Assenagon Asset Management S.A. now owns 317,828 shares of the industrial products company’s stock worth $124,309,000 after purchasing an additional 163,725 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Down 2.6 %

CAT stock opened at $361.62 on Tuesday. The business’s 50-day moving average is $380.88 and its two-hundred day moving average is $371.17. The company has a market cap of $174.59 billion, a price-to-earnings ratio of 16.39, a P/E/G ratio of 1.95 and a beta of 1.12. Caterpillar Inc. has a fifty-two week low of $307.05 and a fifty-two week high of $418.50. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share for the quarter, topping the consensus estimate 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 forecast that Caterpillar Inc. will post 21.45 earnings per share for the current year.

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders 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 1.56%. The ex-dividend date of this dividend is Tuesday, January 21st. Caterpillar’s dividend payout ratio (DPR) is presently 25.56%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Truist Financial cut their target price on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a research report on Monday. Morgan Stanley decreased their price objective on Caterpillar from $330.00 to $300.00 and set an “underweight” rating on the stock in a report on Friday. Citigroup raised their price target on Caterpillar from $420.00 to $430.00 and gave the stock a “buy” rating in a research report on Friday. Evercore ISI raised 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, StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $381.00.

Insider Buying and Selling at Caterpillar

In related news, Director Daniel M. Dickinson sold 1,300 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $418.00, for a total transaction of $543,400.00. Following the completion of the sale, the director now directly owns 4,976 shares of the company’s stock, valued at approximately $2,079,968. This trade represents a 20.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lange Bob De sold 12,657 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the transaction, the insider now directly owns 71,107 shares in the company, valued at approximately $29,171,646.75. This trade represents a 15.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,236 shares of company stock valued at $12,102,371 in the last 90 days. Insiders own 0.29% of the company’s stock.

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.