Edge Capital Group LLC Cuts Stock Position in Caterpillar Inc. (NYSE:CAT)

Edge Capital Group LLC decreased its stake in shares of Caterpillar Inc. (NYSE:CATFree Report) by 11.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 3,390 shares of the industrial products company’s stock after selling 449 shares during the period. Edge Capital Group LLC’s holdings in Caterpillar were worth $1,002,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Holderness Investments Co. raised its stake in Caterpillar by 61.2% in the fourth quarter. Holderness Investments Co. now owns 16,124 shares of the industrial products company’s stock valued at $4,768,000 after buying an additional 6,120 shares in the last quarter. Blueshift Asset Management LLC acquired a new position in Caterpillar during the fourth quarter worth approximately $648,000. CIBC Private Wealth Group LLC lifted its stake in Caterpillar by 3.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 45,077 shares of the industrial products company’s stock valued at $13,328,000 after buying an additional 1,521 shares during the last quarter. Cornerstone Advisory LLC boosted its holdings in shares of Caterpillar by 19.8% in the fourth quarter. Cornerstone Advisory LLC now owns 1,668 shares of the industrial products company’s stock valued at $493,000 after acquiring an additional 276 shares during the period. Finally, Rafferty Asset Management LLC increased its holdings in shares of Caterpillar by 5.4% in the 4th quarter. Rafferty Asset Management LLC now owns 42,781 shares of the industrial products company’s stock valued at $12,649,000 after acquiring an additional 2,205 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CAT. TD Cowen increased their target price on shares of Caterpillar from $338.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. JPMorgan Chase & Co. boosted their target price on Caterpillar from $385.00 to $435.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. Citigroup upped their price objective on shares of Caterpillar from $255.00 to $340.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. HSBC lifted their target price on shares of Caterpillar from $330.00 to $360.00 and gave the company a “hold” rating in a report on Tuesday, April 30th. Finally, Stifel Nicolaus lowered Caterpillar from a “buy” rating to a “hold” rating and lifted their price objective for the company from $293.00 to $350.00 in a report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Caterpillar currently has an average rating of “Hold” and a consensus price target of $323.35.

Check Out Our Latest Stock Report on CAT

Caterpillar Stock Performance

NYSE CAT opened at $329.45 on Thursday. The company has a quick ratio of 0.83, a current ratio of 1.35 and a debt-to-equity ratio of 1.41. The stock has a market cap of $161.12 billion, a price-to-earnings ratio of 14.87, a price-to-earnings-growth ratio of 1.68 and a beta of 1.14. Caterpillar Inc. has a fifty-two week low of $221.45 and a fifty-two week high of $382.01. The business has a fifty day moving average of $353.74 and a 200-day moving average of $320.18.

Caterpillar (NYSE:CATGet Free Report) last released its earnings results on Thursday, April 25th. The industrial products company reported $5.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.12 by $0.48. The company had revenue of $15.80 billion for the quarter, compared to analyst estimates of $16.07 billion. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. As a group, analysts predict that Caterpillar Inc. will post 21.81 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, April 22nd were paid a $1.30 dividend. The ex-dividend date was Friday, April 19th. This represents a $5.20 annualized dividend and a yield of 1.58%. Caterpillar’s payout ratio is currently 23.48%.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Director David Maclennan acquired 500 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were acquired at an average price of $337.39 per share, for a total transaction of $168,695.00. Following the completion of the acquisition, the director now directly owns 5,738 shares of the company’s stock, valued at $1,935,943.82. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director David Maclennan bought 500 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were acquired at an average cost of $337.39 per share, with a total value of $168,695.00. Following the completion of the transaction, the director now owns 5,738 shares of the company’s stock, valued at $1,935,943.82. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Cheryl H. Johnson sold 1,508 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $340.00, for a total transaction of $512,720.00. Following the completion of the sale, the insider now owns 20,023 shares of the company’s stock, valued at $6,807,820. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by insiders.

Caterpillar Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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