City Holding Co. Decreases Holdings in Caterpillar Inc. (CAT)

City Holding Co. lowered its position in Caterpillar Inc. (NYSE:CAT) by 2.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 21,124 shares of the industrial products company’s stock after selling 495 shares during the period. Caterpillar accounts for approximately 1.1% of City Holding Co.’s portfolio, making the stock its 22nd biggest holding. City Holding Co.’s holdings in Caterpillar were worth $3,329,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CAT. Beach Investment Management LLC. purchased a new position in shares of Caterpillar during the 2nd quarter worth $231,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Caterpillar by 9.8% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 48,071 shares of the industrial products company’s stock worth $5,995,000 after acquiring an additional 4,291 shares during the period. Wealthsource Partners LLC purchased a new position in shares of Caterpillar during the 2nd quarter worth $316,000. Ladenburg Thalmann Financial Services Inc. raised its holdings in shares of Caterpillar by 18.5% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 152,100 shares of the industrial products company’s stock worth $18,979,000 after acquiring an additional 23,749 shares during the period. Finally, FMR LLC raised its holdings in shares of Caterpillar by 11.7% during the 2nd quarter. FMR LLC now owns 19,613,661 shares of the industrial products company’s stock worth $2,107,684,000 after acquiring an additional 2,052,300 shares during the period. Institutional investors own 68.55% of the company’s stock.

A number of analysts recently issued reports on the company. ValuEngine downgraded Caterpillar from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Wells Fargo & Co set a $150.00 price objective on Caterpillar and gave the stock a “buy” rating in a research report on Monday, October 16th. They noted that the move was a valuation call. BMO Capital Markets reissued a “buy” rating and set a $195.00 price objective (up from $165.00) on shares of Caterpillar in a research report on Thursday, January 4th. JPMorgan Chase & Co. raised Caterpillar from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $161.96 to $200.00 in a research report on Monday, January 8th. Finally, Vetr downgraded Caterpillar from a “sell” rating to a “strong sell” rating and set a $141.37 price objective for the company. in a research report on Thursday, January 4th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $148.24.

In related news, insider Bradley M. Halverson sold 2,600 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $137.67, for a total transaction of $357,942.00. Following the completion of the sale, the insider now owns 5,214 shares in the company, valued at $717,811.38. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Bradley M. Halverson sold 17,210 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $137.33, for a total value of $2,363,449.30. Following the sale, the chief financial officer now owns 7,814 shares of the company’s stock, valued at approximately $1,073,096.62. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,989 shares of company stock valued at $7,235,850. Corporate insiders own 0.14% of the company’s stock.

Shares of Caterpillar Inc. (NYSE CAT) traded up $0.65 during trading on Wednesday, hitting $169.96. The stock had a trading volume of 977,547 shares, compared to its average volume of 4,190,000. Caterpillar Inc. has a 1-year low of $90.34 and a 1-year high of $173.24. The firm has a market capitalization of $101,110.00, a P/E ratio of 118.03, a PEG ratio of 2.10 and a beta of 1.29. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.04 and a current ratio of 1.44.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $1.95 EPS for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.68. Caterpillar had a return on equity of 23.22% and a net margin of 2.09%. The business had revenue of $11.41 billion during the quarter, compared to the consensus estimate of $10.69 billion. During the same period in the previous year, the company posted $0.85 earnings per share. The business’s revenue for the quarter was up 24.6% on a year-over-year basis. analysts forecast that Caterpillar Inc. will post 6.46 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 20th. Stockholders of record on Monday, January 22nd will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date is Friday, January 19th. Caterpillar’s dividend payout ratio is presently 216.67%.

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Caterpillar Profile

Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through segments, including Construction Industries, which is engaged in supporting customers using machinery in infrastructure, forestry and building construction; Resource Industries, which is engaged in supporting customers using machinery in mining, quarry, waste and material handling applications; Energy & Transportation, which supports customers in oil and gas, power generation, marine, rail and industrial applications, including Cat machines; Financial Products segment, which provides financing and related services, and All Other operating segments, which includes activities, such as product management and development, and manufacturing of filters and fluids, undercarriage, tires and rims, ground engaging tools, fluid transfer products, and sealing and connecting components for Cat products.

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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