Global Assets Advisory LLC Sells 110 Shares of Caterpillar Inc. (NYSE:CAT)

Global Assets Advisory LLC lessened its stake in shares of Caterpillar Inc. (NYSE:CAT) by 14.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 650 shares of the industrial products company’s stock after selling 110 shares during the quarter. Global Assets Advisory LLC’s holdings in Caterpillar were worth $234,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in CAT. Vanguard Group Inc. lifted its position in shares of Caterpillar by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 46,809,540 shares of the industrial products company’s stock valued at $16,980,629,000 after buying an additional 284,366 shares during the last quarter. Geode Capital Management LLC lifted its position in Caterpillar by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 10,449,770 shares of the industrial products company’s stock valued at $3,790,841,000 after acquiring an additional 236,315 shares during the last quarter. Fisher Asset Management LLC boosted its stake in Caterpillar by 1.4% in the fourth quarter. Fisher Asset Management LLC now owns 9,081,775 shares of the industrial products company’s stock valued at $3,294,505,000 after acquiring an additional 129,143 shares in the last quarter. Northern Trust Corp grew its holdings in Caterpillar by 11.8% in the fourth quarter. Northern Trust Corp now owns 6,847,330 shares of the industrial products company’s stock worth $2,483,937,000 after purchasing an additional 724,477 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Caterpillar during the fourth quarter worth $2,184,364,000. 70.98% of the stock is owned by institutional investors.

Insider Transactions at Caterpillar

In other Caterpillar news, Director David Maclennan purchased 375 shares of the stock in a transaction on Wednesday, May 7th. The shares were bought at an average price of $320.70 per share, for a total transaction of $120,262.50. Following the completion of the transaction, the director now owns 6,653 shares of the company’s stock, valued at $2,133,617.10. This trade represents a 5.97 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jason Kaiser sold 2,425 shares of the firm’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 completion of the sale, the insider now directly owns 6,275 shares in the company, valued at approximately $2,225,742.50. The trade was a 27.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Bank of America dropped their target price on Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Robert W. Baird raised shares of Caterpillar from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $300.00 to $309.00 in a research report on Thursday, May 1st. UBS Group raised shares of Caterpillar from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $355.00 to $385.00 in a research report on Monday, February 3rd. JPMorgan Chase & Co. decreased their price target on shares of Caterpillar from $490.00 to $380.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Finally, Truist Financial reissued a “buy” rating and set a $396.00 price objective (up from $389.00) on shares of Caterpillar in a report on Thursday, May 1st. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $370.67.

Caterpillar Stock Performance

Shares of CAT stock opened at $325.47 on Friday. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $418.50. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. The stock has a market cap of $155.55 billion, a PE ratio of 14.75, a price-to-earnings-growth ratio of 1.87 and a beta of 1.35. The business has a 50-day simple moving average of $316.76 and a 200-day simple moving average of $355.39.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.35 by ($0.10). The company had revenue of $14.25 billion during the quarter, compared to analyst estimates of $14.64 billion. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. The company’s revenue was down 9.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.60 earnings per share. On average, equities analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Monday, April 21st will be issued a $1.41 dividend. The ex-dividend date of this dividend is Monday, April 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.73%. Caterpillar’s payout ratio is 27.49%.

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.