Guardian Investment Management Cuts Position in Caterpillar Inc. (NYSE:CAT)

Guardian Investment Management lessened its position in shares of Caterpillar Inc. (NYSE:CAT) by 5.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,987 shares of the industrial products company’s stock after selling 300 shares during the period. Caterpillar comprises 1.2% of Guardian Investment Management’s investment portfolio, making the stock its 19th biggest holding. Guardian Investment Management’s holdings in Caterpillar were worth $1,809,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Seven Eight Capital LP acquired a new position in Caterpillar in the second quarter valued at approximately $523,000. AE Wealth Management LLC boosted its holdings in shares of Caterpillar by 24.9% in the 2nd quarter. AE Wealth Management LLC now owns 23,025 shares of the industrial products company’s stock valued at $7,670,000 after buying an additional 4,589 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of Caterpillar by 7.7% in the 2nd quarter. Pacer Advisors Inc. now owns 45,106 shares of the industrial products company’s stock valued at $15,025,000 after buying an additional 3,211 shares during the last quarter. Sei Investments Co. raised its stake in Caterpillar by 3.4% during the 2nd quarter. Sei Investments Co. now owns 118,189 shares of the industrial products company’s stock worth $39,372,000 after acquiring an additional 3,852 shares in the last quarter. Finally, Ensign Peak Advisors Inc lifted its position in Caterpillar by 1.8% in the second quarter. Ensign Peak Advisors Inc now owns 208,187 shares of the industrial products company’s stock valued at $69,347,000 after acquiring an additional 3,780 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the completion of the transaction, the chief financial officer now owns 45,182 shares in the company, valued at approximately $17,173,226.38. The trade was a 18.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Cheryl H. Johnson sold 2,664 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $378.84, for a total transaction of $1,009,229.76. Following the completion of the sale, the insider now owns 12,951 shares in the company, valued at $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. Over the last three months, insiders sold 33,868 shares of company stock valued at $13,480,389. Corporate insiders own 0.29% of the company’s stock.

Caterpillar Stock Performance

Shares of CAT stock opened at $386.03 on Monday. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. Caterpillar Inc. has a 12-month low of $277.66 and a 12-month high of $418.50. The company has a market cap of $186.38 billion, a price-to-earnings ratio of 17.90, a price-to-earnings-growth ratio of 1.72 and a beta of 1.13. The stock has a 50 day simple moving average of $380.09 and a 200-day simple moving average of $367.29.

Caterpillar (NYSE:CAT) last released its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The business had revenue of $16.11 billion during the quarter, compared to analyst estimates of $16.37 billion. During the same period last year, the business posted $5.52 EPS. Caterpillar’s revenue was down 4.2% compared to the same quarter last year. On average, equities analysts forecast that Caterpillar Inc. will post 21.68 EPS for the current year.

Caterpillar Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have recently commented on CAT. UBS Group lifted their target price on Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a research report on Monday, November 4th. Jefferies Financial Group lifted their price target on Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Citigroup decreased their price objective on Caterpillar from $460.00 to $420.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Evercore ISI upgraded shares of Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 price target for the company in a research report on Monday, January 13th. Finally, Bank of America raised their price objective on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $380.60.

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.