Bank of Hawaii Decreases Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Bank of Hawaii lowered its position in Caterpillar Inc. (NYSE:CAT) by 1.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 14,494 shares of the industrial products company’s stock after selling 204 shares during the period. Bank of Hawaii’s holdings in Caterpillar were worth $5,258,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CAT. FSM Wealth Advisors LLC lifted its stake in Caterpillar by 3.8% during the fourth quarter. FSM Wealth Advisors LLC now owns 688 shares of the industrial products company’s stock worth $262,000 after purchasing an additional 25 shares during the last quarter. Allen Capital Group LLC boosted its position in Caterpillar by 0.6% during the fourth quarter. Allen Capital Group LLC now owns 4,247 shares of the industrial products company’s stock worth $1,541,000 after purchasing an additional 26 shares in the last quarter. Wagner Wealth Management LLC lifted its position in shares of Caterpillar by 4.0% in the fourth quarter. Wagner Wealth Management LLC now owns 668 shares of the industrial products company’s stock valued at $242,000 after acquiring an additional 26 shares in the last quarter. Channel Wealth LLC lifted its position in Caterpillar by 1.9% during the fourth quarter. Channel Wealth LLC now owns 1,468 shares of the industrial products company’s stock worth $533,000 after buying an additional 27 shares during the period. Finally, Total Clarity Wealth Management Inc. raised its holdings in shares of Caterpillar by 0.6% in the 4th quarter. Total Clarity Wealth Management Inc. now owns 4,373 shares of the industrial products company’s stock worth $1,586,000 after purchasing an additional 27 shares during the period. 70.98% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Caterpillar

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $380.09, for a total value of $3,800,900.00. Following the completion of the sale, the chief financial officer now owns 45,182 shares of the company’s stock, valued at $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 available at this link. Also, insider Jason Kaiser sold 2,425 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total value of $860,147.50. Following the sale, the insider now owns 6,275 shares in the company, valued at approximately $2,225,742.50. This trade represents a 27.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by corporate insiders.

Caterpillar Trading Up 10.0 %

NYSE CAT opened at $301.43 on Thursday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $418.50. The company’s fifty day moving average price is $336.81 and its two-hundred day moving average price is $368.44. The company has a market capitalization of $144.06 billion, a price-to-earnings ratio of 13.66, a price-to-earnings-growth ratio of 1.87 and a beta of 1.21.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share 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, research analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Monday, April 21st will be paid a $1.41 dividend. This represents a $5.64 annualized dividend and a dividend yield of 1.87%. Caterpillar’s payout ratio is presently 25.56%.

Wall Street Analyst Weigh In

CAT has been the subject of several research reports. Bank of America decreased their target price on Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a research report on Friday, January 31st. DA Davidson lifted their target price on Caterpillar from $350.00 to $357.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. UBS Group raised Caterpillar from a “sell” rating to a “neutral” rating and lifted their target price for the company from $355.00 to $385.00 in a research note on Monday, February 3rd. Morgan Stanley cut their target price on Caterpillar from $330.00 to $300.00 and set an “underweight” rating on the stock in a research note on Friday, January 31st. Finally, Raymond James raised Caterpillar from a “market perform” rating to an “outperform” rating in a research note on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Caterpillar has an average rating of “Hold” and a consensus price target of $373.20.

About Caterpillar

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.