Lmcg Investments LLC Sells 748 Shares of Caterpillar Inc. (NYSE:CAT)

Lmcg Investments LLC lessened its position in Caterpillar Inc. (NYSE:CAT) by 2.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 31,178 shares of the industrial products company’s stock after selling 748 shares during the period. Lmcg Investments LLC’s holdings in Caterpillar were worth $11,310,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC raised its position in Caterpillar by 39,534.0% during the 3rd quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock valued at $8,356,930,000 after purchasing an additional 2,131,276 shares during the last quarter. Altshuler Shaham Ltd raised its holdings in shares of Caterpillar by 3,319.7% during the second quarter. Altshuler Shaham Ltd now owns 275,011 shares of the industrial products company’s stock valued at $91,606,000 after acquiring an additional 266,969 shares in the last quarter. Zurich Insurance Group Ltd FI lifted its stake in Caterpillar by 4,018.6% in the third quarter. Zurich Insurance Group Ltd FI now owns 255,355 shares of the industrial products company’s stock worth $99,874,000 after acquiring an additional 249,155 shares during the period. Fisher Asset Management LLC boosted its holdings in Caterpillar by 2.3% in the third quarter. Fisher Asset Management LLC now owns 8,952,632 shares of the industrial products company’s stock valued at $3,501,554,000 after acquiring an additional 205,012 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its holdings in Caterpillar by 34.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 782,133 shares of the industrial products company’s stock worth $305,908,000 after purchasing an additional 200,210 shares in the last quarter. 70.98% of the stock is owned by institutional investors.

Insider Buying and Selling at Caterpillar

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the completion of the transaction, the chief financial officer now owns 45,182 shares in the company, valued at approximately $17,173,226.38. This represents a 18.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 transaction of $368,788.64. Following the completion of the sale, the chief accounting officer now owns 1,686 shares in the company, valued at approximately $642,332.28. This represents a 36.47 % decrease in their ownership of the stock. 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 90 days. 0.29% of the stock is currently owned by corporate insiders.

Caterpillar Stock Performance

Shares of NYSE CAT opened at $386.03 on Tuesday. Caterpillar Inc. has a 12-month low of $277.66 and a 12-month high of $418.50. The firm has a market capitalization of $186.38 billion, a price-to-earnings ratio of 17.90, a price-to-earnings-growth ratio of 1.91 and a beta of 1.13. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. The firm has a 50 day moving average of $380.09 and a 200 day moving average of $367.29.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The business had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The company’s revenue was down 4.2% on a year-over-year basis. During the same period in the previous year, the firm earned $5.52 EPS. On average, research analysts anticipate that Caterpillar Inc. will post 21.69 earnings per share for the current year.

Caterpillar Dividend Announcement

The company also recently announced 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. This represents a $5.64 annualized dividend and a yield of 1.46%. The ex-dividend date is Tuesday, January 21st. Caterpillar’s dividend payout ratio is 26.15%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. 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. Truist Financial dropped their target price on shares of Caterpillar from $471.00 to $455.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. StockNews.com lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Friday. Citigroup reduced their price objective on Caterpillar from $460.00 to $420.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. increased their target price on Caterpillar from $500.00 to $515.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Three research 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. According to data from MarketBeat.com, Caterpillar presently has a consensus rating of “Hold” and a consensus target price of $380.60.

Caterpillar 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.