Hennion & Walsh Asset Management Inc. decreased its stake in Caterpillar Inc. (NYSE:CAT – Free Report) by 29.2% during the 4th quarter, Holdings Channel reports. The firm owned 1,379 shares of the industrial products company’s stock after selling 569 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Caterpillar were worth $500,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Fairscale Capital LLC acquired a new stake in shares of Caterpillar in the second quarter valued at about $36,000. Capital Performance Advisors LLP acquired a new stake in shares of Caterpillar in the third quarter valued at about $36,000. Kimelman & Baird LLC boosted its position in Caterpillar by 42.9% during the third quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 30 shares during the last quarter. HWG Holdings LP acquired a new position in Caterpillar during the second quarter worth about $54,000. Finally, SOA Wealth Advisors LLC. boosted its position in Caterpillar by 47.2% during the third quarter. SOA Wealth Advisors LLC. now owns 156 shares of the industrial products company’s stock worth $61,000 after acquiring an additional 50 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.
Insider Activity at Caterpillar
In other Caterpillar news, insider Cheryl H. Johnson sold 2,664 shares of Caterpillar stock in a transaction on Monday, November 4th. The stock was sold at an average price of $378.84, for a total transaction of $1,009,229.76. Following the sale, the insider now owns 12,951 shares of the company’s stock, valued at $4,906,356.84. The trade was a 17.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO William E. Schaupp sold 968 shares of Caterpillar stock in a transaction on Friday, November 1st. The shares were sold at an average price of $380.98, for a total value of $368,788.64. Following the sale, the chief accounting officer now directly owns 1,686 shares in the company, valued at $642,332.28. The trade was a 36.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,868 shares of company stock valued at $13,480,389 over the last ninety days. Corporate insiders own 0.29% of the company’s stock.
Caterpillar Trading Up 1.4 %
Caterpillar (NYSE:CAT – Get Free Report) last posted its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The firm had revenue of $16.11 billion for the quarter, compared to analyst estimates of $16.37 billion. During the same period in the previous year, the firm posted $5.52 earnings per share. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. On average, analysts anticipate that Caterpillar Inc. will post 21.68 EPS for the current year.
Caterpillar Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Tuesday, January 21st will be issued a $1.41 dividend. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $5.64 annualized dividend and a yield of 1.46%. Caterpillar’s dividend payout ratio is presently 26.15%.
Analyst Ratings Changes
CAT has been the topic of a number of recent research reports. StockNews.com lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Friday. Evercore ISI upgraded shares of Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 price target on the stock in a research report on Monday, January 13th. Robert W. Baird lifted their target price on shares of Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research note on Thursday, October 31st. Bank of America lifted their target price on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Finally, Jefferies Financial Group lifted their target price on shares of Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $380.60.
Get Our Latest Research Report on Caterpillar
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.
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