PGGM Investments Cuts Stock Holdings in Caterpillar Inc. (NYSE:CAT)

PGGM Investments lowered its position in Caterpillar Inc. (NYSE:CAT) by 3.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 54,825 shares of the industrial products company’s stock after selling 1,801 shares during the period. PGGM Investments’ holdings in Caterpillar were worth $16,210,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CAT. Gilfoyle & Co LLC acquired a new stake in Caterpillar in the 4th quarter worth approximately $30,000. Fortitude Family Office LLC acquired a new stake in Caterpillar during the 4th quarter valued at approximately $39,000. Authentikos Wealth Advisory LLC acquired a new stake in Caterpillar during the 3rd quarter valued at approximately $41,000. Rational Advisors LLC acquired a new stake in Caterpillar during the 3rd quarter valued at approximately $42,000. Finally, Milestone Investment Advisors LLC acquired a new stake in Caterpillar during the 3rd quarter valued at approximately $44,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Oppenheimer restated a “market perform” rating on shares of Caterpillar in a research note on Thursday, April 18th. StockNews.com cut shares of Caterpillar from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 20th. Morgan Stanley initiated coverage on shares of Caterpillar in a research note on Monday, January 8th. They issued an “equal weight” rating and a $270.00 target price for the company. Citigroup boosted their target price on shares of Caterpillar from $255.00 to $340.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. Finally, Truist Financial began coverage on shares of Caterpillar in a report on Thursday, March 14th. They issued a “buy” rating and a $390.00 price target for the company. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $310.83.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Anthony D. Fassino sold 4,575 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $329.80, for a total value of $1,508,835.00. Following the transaction, the insider now owns 23,474 shares of the company’s stock, valued at $7,741,725.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Lange Bob De sold 21,194 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $325.52, for a total transaction of $6,899,070.88. Following the sale, the insider now owns 61,092 shares of the company’s stock, valued at $19,886,667.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Anthony D. Fassino sold 4,575 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $329.80, for a total transaction of $1,508,835.00. Following the sale, the insider now directly owns 23,474 shares in the company, valued at approximately $7,741,725.20. The disclosure for this sale can be found here. Insiders have sold 35,769 shares of company stock valued at $11,508,906 over the last 90 days. 0.33% of the stock is owned by insiders.

Caterpillar Trading Up 1.6 %

Shares of CAT stock traded up $5.38 on Friday, hitting $343.38. 3,324,630 shares of the stock traded hands, compared to its average volume of 2,414,735. The firm’s 50-day moving average price is $350.10 and its two-hundred day moving average price is $300.99. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.87 and a current ratio of 1.35. The stock has a market capitalization of $171.48 billion, a PE ratio of 15.50, a PEG ratio of 1.53 and a beta of 1.17. Caterpillar Inc. has a twelve month low of $204.04 and a twelve month high of $382.01.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Thursday, April 25th. The industrial products company reported $5.60 earnings per share for the quarter, beating the consensus estimate of $5.12 by $0.48. The firm had revenue of $15.80 billion for the quarter, compared to analysts’ expectations of $16.07 billion. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. As a group, analysts anticipate that Caterpillar Inc. will post 21.44 EPS for the current year.

Caterpillar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, April 22nd will be given a $1.30 dividend. The ex-dividend date is Friday, April 19th. This represents a $5.20 dividend on an annualized basis and a yield of 1.51%. Caterpillar’s payout ratio is currently 23.48%.

Caterpillar Company 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.