Empowered Funds LLC Has $10.59 Million Position in Caterpillar Inc. (NYSE:CAT)

Empowered Funds LLC trimmed its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 43.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,189 shares of the industrial products company’s stock after selling 22,126 shares during the period. Empowered Funds LLC’s holdings in Caterpillar were worth $10,589,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Retirement Wealth Solutions LLC acquired a new position in shares of Caterpillar during the 4th quarter worth approximately $34,000. Capital Performance Advisors LLP acquired a new position in Caterpillar during the third quarter worth $36,000. Albion Financial Group UT raised its position in Caterpillar by 334.8% during the fourth quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 77 shares in the last quarter. Kimelman & Baird LLC lifted its stake in Caterpillar by 42.9% in the third quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 30 shares during the last quarter. Finally, Trivant Custom Portfolio Group LLC increased its stake in shares of Caterpillar by 130.0% during the 4th quarter. Trivant Custom Portfolio Group LLC now owns 115 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 65 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CAT shares. DA Davidson raised their target price on shares of Caterpillar from $350.00 to $357.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. UBS Group upgraded Caterpillar from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $355.00 to $385.00 in a research note on Monday, February 3rd. Jefferies Financial Group increased their price target on Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a research note on Friday, December 6th. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Friday, January 17th. Finally, Morgan Stanley cut their target price on shares of Caterpillar from $330.00 to $300.00 and set an “underweight” rating for the company in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $383.13.

Insider Buying and Selling at Caterpillar

In other news, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $380.09, for a total value of $3,800,900.00. Following the sale, the chief financial officer now directly owns 45,182 shares in the company, valued at approximately $17,173,226.38. This trade represents a 18.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Anthony D. Fassino sold 6,279 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $408.59, for a total transaction of $2,565,536.61. Following the transaction, the insider now owns 33,565 shares of the company’s stock, valued at approximately $13,714,323.35. This represents a 15.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

Caterpillar Price Performance

Shares of NYSE CAT opened at $363.84 on Monday. The stock has a market capitalization of $175.66 billion, a PE ratio of 16.49, a P/E/G ratio of 1.94 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 current ratio of 1.42 and a quick ratio of 0.89. The business has a fifty day moving average price of $376.59 and a two-hundred day moving average price of $371.48.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data 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, equities analysts predict that Caterpillar Inc. will post 20.05 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently disclosed 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 1.55%. Caterpillar’s dividend payout ratio is currently 25.56%.

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.