Accel Wealth Management Lowers Holdings in Caterpillar Inc. (NYSE:CAT)

Accel Wealth Management lowered its position in shares of Caterpillar Inc. (NYSE:CAT) by 4.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,021 shares of the industrial products company’s stock after selling 46 shares during the period. Accel Wealth Management’s holdings in Caterpillar were worth $371,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Nordea Investment Management AB raised its holdings in shares of Caterpillar by 1.6% in the 4th quarter. Nordea Investment Management AB now owns 635,750 shares of the industrial products company’s stock valued at $231,686,000 after purchasing an additional 10,212 shares in the last quarter. Alpha Cubed Investments LLC increased its holdings in Caterpillar by 5.6% during the third quarter. Alpha Cubed Investments LLC now owns 116,566 shares of the industrial products company’s stock valued at $45,591,000 after buying an additional 6,212 shares during the period. Citizens Financial Group Inc. RI lifted its holdings in Caterpillar by 43.0% during the third quarter. Citizens Financial Group Inc. RI now owns 13,902 shares of the industrial products company’s stock worth $5,437,000 after buying an additional 4,181 shares during the period. Cadinha & Co. LLC bought a new stake in Caterpillar during the 4th quarter valued at $11,084,000. Finally, First Affirmative Financial Network purchased a new position in shares of Caterpillar in the 3rd quarter valued at $204,000. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Stock Up 0.4 %

Shares of CAT stock opened at $407.95 on Friday. Caterpillar Inc. has a fifty-two week low of $293.13 and a fifty-two week high of $418.50. The firm has a market capitalization of $196.96 billion, a PE ratio of 18.91, a P/E/G ratio of 1.97 and a beta of 1.13. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40. The stock’s 50-day simple moving average is $380.59 and its 200-day simple moving average is $368.65.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing the consensus estimate 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 net margin of 16.26% and a return on equity of 59.09%. The business’s revenue was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.52 earnings per share. Equities analysts expect that Caterpillar Inc. will post 21.69 earnings per share for the current year.

Caterpillar Dividend Announcement

The business also recently declared 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. This represents a $5.64 annualized dividend and a yield of 1.38%. The ex-dividend date is Tuesday, January 21st. Caterpillar’s dividend payout ratio is currently 26.15%.

Insider Activity

In related news, CAO William E. Schaupp sold 968 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $380.98, for a total value of $368,788.64. Following the completion of the transaction, the chief accounting officer now directly owns 1,686 shares in the company, valued at $642,332.28. The trade was a 36.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction on 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 sale, the chief financial officer now owns 45,182 shares in the company, valued at approximately $17,173,226.38. This represents a 18.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,868 shares of company stock valued at $13,480,389 in the last quarter. 0.29% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Jefferies Financial Group upped their price objective on Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Truist Financial decreased their price target on shares of Caterpillar from $471.00 to $455.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. UBS Group lifted their price objective on shares of Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a research report on Monday, November 4th. Robert W. Baird increased their target price on shares of Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research report on Thursday, October 31st. Finally, Citigroup cut their price target on shares of Caterpillar from $460.00 to $420.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Caterpillar presently has a consensus rating of “Hold” and a consensus target price 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.