OMERS ADMINISTRATION Corp Lowers Stake in Caterpillar Inc. (NYSE:CAT)

OMERS ADMINISTRATION Corp lowered its stake in shares of Caterpillar Inc. (NYSE:CAT) by 7.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,107 shares of the industrial products company’s stock after selling 2,370 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Caterpillar were worth $10,922,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Flagship Wealth Advisors LLC purchased a new stake in shares of Caterpillar during the 4th quarter valued at $26,000. Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Caterpillar during the 4th quarter valued at $27,000. Cyrus J. Lawrence LLC purchased a new stake in shares of Caterpillar during the 4th quarter valued at $27,000. Noble Wealth Management PBC purchased a new stake in shares of Caterpillar during the 4th quarter valued at $31,000. Finally, Retirement Wealth Solutions LLC purchased a new stake in shares of Caterpillar during the 4th quarter valued at $34,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Activity at Caterpillar

In related news, insider Jason Kaiser sold 2,425 shares of Caterpillar stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total value of $860,147.50. Following the completion of the transaction, the insider now owns 6,275 shares in the company, valued at $2,225,742.50. The trade was a 27.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David Maclennan purchased 375 shares of the business’s stock in a transaction that occurred on Wednesday, May 7th. The stock was acquired at an average price of $320.70 per share, with a total value of $120,262.50. Following the purchase, the director now owns 6,653 shares in the company, valued at $2,133,617.10. This represents a 5.97% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.29% of the stock is owned by company insiders.

Caterpillar Stock Performance

NYSE CAT opened at $342.55 on Tuesday. The stock has a 50-day simple moving average of $316.84 and a two-hundred day simple moving average of $354.65. The firm has a market capitalization of $161.36 billion, a P/E ratio of 15.52, a PEG ratio of 1.87 and a beta of 1.35. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $418.50. 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 released its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share for the quarter, missing analysts’ consensus estimates of $4.35 by ($0.10). The company had revenue of $14.25 billion for the quarter, compared to analysts’ expectations of $14.64 billion. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. The business’s quarterly revenue was down 9.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.60 EPS. On average, equities analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Monday, April 21st will be paid a $1.41 dividend. The ex-dividend date is Monday, April 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.65%. Caterpillar’s dividend payout ratio is presently 27.49%.

Analysts Set New Price Targets

Several analysts have recently commented on CAT shares. Morgan Stanley upgraded Caterpillar from an “underweight” rating to an “equal weight” rating and decreased their price objective for the company from $300.00 to $283.00 in a report on Wednesday, April 16th. DA Davidson upped their target price on Caterpillar from $325.00 to $331.00 and gave the company a “neutral” rating in a research report on Monday, May 5th. Truist Financial reissued a “buy” rating and issued a $396.00 target price (up from $389.00) on shares of Caterpillar in a research report on Thursday, May 1st. StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Finally, Wedbush raised Caterpillar to an “outperform” rating in a research report on Monday, February 3rd. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $370.67.

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.