Pinnacle Wealth Planning Services Inc. Cuts Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Pinnacle Wealth Planning Services Inc. reduced its position in shares of Caterpillar Inc. (NYSE:CAT) by 17.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,825 shares of the industrial products company’s stock after selling 615 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in Caterpillar were worth $1,025,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Halbert Hargrove Global Advisors LLC purchased a new position in Caterpillar in the fourth quarter valued at about $27,000. Noble Wealth Management PBC purchased a new position in Caterpillar in the fourth quarter valued at about $31,000. Capital Performance Advisors LLP purchased a new position in Caterpillar in the third quarter valued at about $36,000. Retirement Wealth Solutions LLC purchased a new position in Caterpillar in the fourth quarter valued at about $34,000. Finally, Whipplewood Advisors LLC purchased a new position in Caterpillar in the fourth quarter valued at about $36,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Gerald Johnson purchased 100 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were bought at an average price of $365.57 per share, with a total value of $36,557.00. Following the completion of the purchase, the director now directly owns 3,053 shares in the company, valued at approximately $1,116,085.21. This trade represents a 3.39 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jason Kaiser sold 2,425 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total transaction of $860,147.50. Following the transaction, the insider now directly owns 6,275 shares in the company, valued at approximately $2,225,742.50. This represents a 27.87 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by insiders.

Caterpillar Stock Up 3.7 %

Shares of NYSE CAT opened at $338.74 on Thursday. Caterpillar Inc. has a 1 year low of $307.05 and a 1 year high of $418.50. The firm’s 50 day moving average price is $363.91 and its 200 day moving average price is $372.74. The firm has a market cap of $161.89 billion, a P/E ratio of 15.35, a price-to-earnings-growth ratio of 1.87 and a beta of 1.12. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42.

Caterpillar (NYSE:CAT) last announced its earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, sell-side analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st were paid a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date was Tuesday, January 21st. Caterpillar’s dividend payout ratio is currently 25.56%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Truist Financial dropped their target price on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Citigroup increased their price target on shares of Caterpillar from $420.00 to $430.00 and gave the company a “buy” rating in a research report on Friday, January 31st. DA Davidson increased their price target on shares of Caterpillar from $350.00 to $357.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Bank of America lowered their price target on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Finally, Evercore ISI increased their price target on shares of Caterpillar from $365.00 to $375.00 and gave the company an “in-line” rating in a research report on Wednesday, February 19th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $383.80.

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.