IVC Wealth Advisors LLC Reduces Stake in Caterpillar Inc. (NYSE:CAT)

IVC Wealth Advisors LLC trimmed its position in Caterpillar Inc. (NYSE:CAT) by 8.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,985 shares of the industrial products company’s stock after selling 381 shares during the period. Caterpillar accounts for 0.8% of IVC Wealth Advisors LLC’s investment portfolio, making the stock its 27th biggest position. IVC Wealth Advisors LLC’s holdings in Caterpillar were worth $1,446,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. Baron Silver Stevens Financial Advisors LLC bought a new stake in shares of Caterpillar during the 4th quarter worth $280,000. Beacon Investment Advisory Services Inc. increased its position in shares of Caterpillar by 6.8% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 22,520 shares of the industrial products company’s stock valued at $8,169,000 after purchasing an additional 1,441 shares during the last quarter. MinichMacGregor Wealth Management LLC raised its holdings in shares of Caterpillar by 8.2% during the 4th quarter. MinichMacGregor Wealth Management LLC now owns 1,327 shares of the industrial products company’s stock valued at $481,000 after buying an additional 101 shares in the last quarter. Traynor Capital Management Inc. lifted its position in Caterpillar by 17.6% in the 4th quarter. Traynor Capital Management Inc. now owns 13,260 shares of the industrial products company’s stock worth $4,810,000 after buying an additional 1,989 shares during the last quarter. Finally, Hudson Capital Management LLC grew its position in Caterpillar by 0.6% during the fourth quarter. Hudson Capital Management LLC now owns 10,895 shares of the industrial products company’s stock valued at $3,952,000 after acquiring an additional 66 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Cheryl H. Johnson sold 2,664 shares of the 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 in the company, valued at approximately $4,906,356.84. This represents a 17.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Lange Bob De sold 12,657 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the transaction, the insider now owns 71,107 shares in the company, valued at $29,171,646.75. The trade was a 15.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,868 shares of company stock valued at $13,480,389 in the last ninety days. Corporate insiders own 0.29% of the company’s stock.

Caterpillar Price Performance

Shares of NYSE CAT opened at $406.87 on Friday. The company has a 50 day simple moving average of $380.20 and a two-hundred day simple moving average of $368.38. Caterpillar Inc. has a fifty-two week low of $288.34 and a fifty-two week high of $418.50. The company has a market capitalization of $196.44 billion, a price-to-earnings ratio of 18.86, a P/E/G ratio of 1.97 and a beta of 1.13. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40.

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

Caterpillar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st will be issued a dividend of $1.41 per share. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.39%. Caterpillar’s dividend payout ratio is currently 26.15%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird upped their price objective on shares of Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research note on Thursday, October 31st. StockNews.com lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Jefferies Financial Group lifted their price objective on Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Truist Financial dropped their target price on Caterpillar from $471.00 to $455.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Finally, UBS Group lifted their price target on Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a research note on Monday, November 4th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average 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.