Corient Private Wealth LLC Trims Stock Position in Caterpillar Inc. $CAT

Corient Private Wealth LLC trimmed its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 10.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 567,599 shares of the industrial products company’s stock after selling 65,349 shares during the period. Corient Private Wealth LLC’s holdings in Caterpillar were worth $220,348,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Kilter Group LLC purchased a new position in Caterpillar during the second quarter worth $27,000. Mid American Wealth Advisory Group Inc. acquired a new stake in shares of Caterpillar during the second quarter valued at $28,000. Compass Financial Services Inc increased its position in Caterpillar by 49.2% during the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 31 shares in the last quarter. Family Legacy Financial Solutions LLC acquired a new position in Caterpillar in the 2nd quarter valued at about $32,000. Finally, RiverPark Advisors LLC acquired a new stake in shares of Caterpillar during the 2nd quarter worth about $32,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Activity

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $571.44, for a total transaction of $5,714,400.00. Following the completion of the sale, the chief financial officer directly owned 55,460 shares in the company, valued at $31,692,062.40. The trade was a 15.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Lange Bob De sold 14,638 shares of the firm’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $562.36, for a total transaction of $8,231,825.68. Following the completion of the transaction, the insider directly owned 80,209 shares in the company, valued at approximately $45,106,333.24. This represents a 15.43% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 79,061 shares of company stock valued at $41,949,366 over the last quarter. 0.33% of the stock is owned by insiders.

Caterpillar Trading Down 4.4%

Shares of CAT opened at $597.88 on Monday. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $627.50. The firm has a market capitalization of $279.80 billion, a P/E ratio of 30.69, a price-to-earnings-growth ratio of 2.82 and a beta of 1.57. The company has a current ratio of 1.38, a quick ratio of 0.86 and a debt-to-equity ratio of 1.34. The stock’s fifty day simple moving average is $554.63 and its 200 day simple moving average is $462.36.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.52 by $0.43. The firm had revenue of $17.64 billion during the quarter, compared to the consensus estimate of $16.72 billion. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.17 earnings per share. On average, equities research 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 Thursday, February 19th. Investors of record on Tuesday, January 20th will be issued a $1.51 dividend. The ex-dividend date is Tuesday, January 20th. This represents a $6.04 annualized dividend and a yield of 1.0%. Caterpillar’s dividend payout ratio (DPR) is presently 31.01%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CAT. JPMorgan Chase & Co. boosted their price objective on shares of Caterpillar from $650.00 to $730.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Sanford C. Bernstein reiterated a “market perform” rating on shares of Caterpillar in a report on Wednesday, November 5th. Citigroup increased their price target on Caterpillar from $670.00 to $690.00 and gave the stock a “buy” rating in a research note on Wednesday, December 10th. Bank of America lifted their price objective on Caterpillar from $594.00 to $650.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Finally, Truist Financial reiterated a “buy” rating and set a $729.00 target price (up from $582.00) on shares of Caterpillar in a research report on Thursday, October 30th. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Caterpillar has an average rating of “Moderate Buy” and an average target price of $612.16.

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.