Marco Investment Management LLC Sells 535 Shares of Caterpillar Inc. (NYSE:CAT)

Marco Investment Management LLC lessened its stake in shares of Caterpillar Inc. (NYSE:CAT) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 73,583 shares of the industrial products company’s stock after selling 535 shares during the quarter. Caterpillar accounts for 2.2% of Marco Investment Management LLC’s investment portfolio, making the stock its 9th biggest position. Marco Investment Management LLC’s holdings in Caterpillar were worth $21,756,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Gilfoyle & Co LLC acquired a new position in shares of Caterpillar in the fourth quarter worth about $30,000. Fortitude Family Office LLC acquired a new position in shares of Caterpillar in the fourth quarter worth about $39,000. Authentikos Wealth Advisory LLC acquired a new position in shares of Caterpillar in the third quarter worth about $41,000. Rational Advisors LLC acquired a new position in shares of Caterpillar in the third quarter worth about $42,000. Finally, Milestone Investment Advisors LLC acquired a new position in shares of Caterpillar in the third quarter worth about $44,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Wells Fargo & Company increased their target price on Caterpillar from $290.00 to $325.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. The Goldman Sachs Group increased their target price on Caterpillar from $357.00 to $408.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Evercore ISI downgraded Caterpillar from an “outperform” rating to an “in-line” rating and increased their target price for the stock from $321.00 to $338.00 in a report on Tuesday, February 20th. TD Cowen increased their target price on Caterpillar from $338.00 to $340.00 and gave the stock a “buy” rating in a report on Friday. Finally, Morgan Stanley assumed coverage on Caterpillar in a report on Monday, January 8th. They set an “equal weight” rating and a $270.00 target price on the stock. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Caterpillar has a consensus rating of “Hold” and a consensus price target of $310.83.

Caterpillar Stock Performance

Shares of Caterpillar stock traded up $5.38 on Friday, reaching $343.38. 3,324,630 shares of the company were exchanged, compared to its average volume of 2,414,735. Caterpillar Inc. has a 1-year low of $204.04 and a 1-year high of $382.01. 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 firm has a market cap of $171.48 billion, a price-to-earnings ratio of 15.50, a P/E/G ratio of 1.53 and a beta of 1.17. The company’s 50-day moving average is $350.10 and its two-hundred day moving average is $300.99.

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

Caterpillar Dividend Announcement

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

Insider Activity at Caterpillar

In other news, insider Anthony D. Fassino sold 4,575 shares of Caterpillar stock in a transaction on 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 transaction, the insider now directly owns 23,474 shares in the company, valued at approximately $7,741,725.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Anthony D. Fassino sold 4,575 shares of Caterpillar stock in a transaction on 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 transaction, the insider now directly owns 23,474 shares in the company, valued at approximately $7,741,725.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $310.10, for a total value of $3,101,000.00. Following the transaction, the chief financial officer now owns 57,317 shares in the company, valued at $17,774,001.70. The disclosure for this sale can be found here. Insiders have sold a total of 35,769 shares of company stock worth $11,508,906 in the last three months. 0.33% of the stock is owned by company insiders.

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.