Crossmark Global Holdings Inc. Decreases Stake in Caterpillar Inc. (NYSE:CAT)

Crossmark Global Holdings Inc. trimmed its stake in Caterpillar Inc. (NYSE:CAT) by 2.1% in the 4th quarter, HoldingsChannel reports. The firm owned 46,550 shares of the industrial products company’s stock after selling 1,020 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Caterpillar were worth $16,886,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CAT. Retirement Wealth Solutions LLC purchased a new position in Caterpillar during the fourth quarter valued at $34,000. Fairscale Capital LLC purchased a new position in shares of Caterpillar during the 2nd quarter worth about $36,000. Capital Performance Advisors LLP purchased a new stake in shares of Caterpillar during the third quarter valued at $36,000. Kimelman & Baird LLC raised its position in Caterpillar by 42.9% during the 3rd quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 30 shares in the last quarter. Finally, Trivant Custom Portfolio Group LLC boosted its position in Caterpillar by 130.0% during the 4th quarter. Trivant Custom Portfolio Group LLC now owns 115 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 65 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Stock Up 1.4 %

Shares of CAT stock opened at $386.03 on Tuesday. The firm has a market cap of $186.38 billion, a PE ratio of 17.90, a price-to-earnings-growth ratio of 1.91 and a beta of 1.13. Caterpillar Inc. has a 12 month low of $277.66 and a 12 month high of $418.50. The stock has a 50 day moving average of $380.09 and a 200-day moving average of $367.29. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The business had revenue of $16.11 billion for the quarter, compared to analyst estimates of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The firm’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.52 EPS. On average, equities analysts predict that Caterpillar Inc. will post 21.69 EPS for the current year.

Caterpillar Dividend Announcement

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

Wall Street Analysts Forecast Growth

CAT has been the subject of several analyst reports. StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Friday. Citigroup cut their target price 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 target price on Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research note on Thursday, October 31st. UBS Group upped their price target on Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a research note on Monday, November 4th. Finally, Truist Financial cut their price target on Caterpillar from $471.00 to $455.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Caterpillar has a consensus rating of “Hold” and an average price target of $380.60.

Insider Activity

In other Caterpillar news, insider Cheryl H. Johnson sold 2,664 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $378.84, for a total value of $1,009,229.76. Following the completion of the transaction, the insider now directly owns 12,951 shares in the company, valued at $4,906,356.84. This trade represents a 17.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gerald Johnson bought 100 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was purchased at an average price of $398.57 per share, with a total value of $39,857.00. Following the completion of the purchase, the director now directly owns 2,953 shares in the company, valued at $1,176,977.21. The trade was a 3.51 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 33,868 shares of company stock worth $13,480,389 in the last 90 days. Corporate 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.