Conning Inc. Sells 18,152 Shares of Caterpillar Inc. (NYSE:CAT)

Conning Inc. trimmed its stake in Caterpillar Inc. (NYSE:CAT) by 15.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 98,293 shares of the industrial products company’s stock after selling 18,152 shares during the quarter. Caterpillar accounts for about 1.2% of Conning Inc.’s holdings, making the stock its 29th largest position. Conning Inc.’s holdings in Caterpillar were worth $35,657,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. FSM Wealth Advisors LLC lifted its position in shares of Caterpillar by 3.8% during the 4th quarter. FSM Wealth Advisors LLC now owns 688 shares of the industrial products company’s stock valued at $262,000 after acquiring an additional 25 shares during the period. Smallwood Wealth Investment Management LLC raised its holdings in shares of Caterpillar by 2.6% during the 3rd quarter. Smallwood Wealth Investment Management LLC now owns 1,037 shares of the industrial products company’s stock worth $405,000 after buying an additional 26 shares in the last quarter. Allen Capital Group LLC raised its holdings in shares of Caterpillar by 0.6% during the 4th quarter. Allen Capital Group LLC now owns 4,247 shares of the industrial products company’s stock worth $1,541,000 after buying an additional 26 shares in the last quarter. First Bank & Trust raised its holdings in shares of Caterpillar by 4.0% during the 3rd quarter. First Bank & Trust now owns 709 shares of the industrial products company’s stock worth $277,000 after buying an additional 27 shares in the last quarter. Finally, Washington Trust Bank raised its holdings in shares of Caterpillar by 1.2% during the 3rd quarter. Washington Trust Bank now owns 2,349 shares of the industrial products company’s stock worth $919,000 after buying an additional 27 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CAT has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lowered their price target on Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Truist Financial lowered their price target on Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Bank of America lowered their target price on Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a report on Friday, January 31st. Citigroup upped their target price on Caterpillar from $420.00 to $430.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Finally, Robert W. Baird upped their target price on Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $383.13.

Caterpillar Trading Down 0.4 %

NYSE CAT opened at $363.84 on Friday. The business’s 50-day moving average price is $377.44 and its two-hundred day moving average price is $371.18. Caterpillar Inc. has a 12 month low of $307.05 and a 12 month high of $418.50. The firm has a market capitalization of $175.66 billion, a PE ratio of 16.49, a price-to-earnings-growth ratio of 1.95 and a beta of 1.12. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40.

Caterpillar (NYSE:CAT) last announced its earnings results on Thursday, January 30th. The industrial products company reported $5.14 EPS for the quarter, beating the consensus estimate of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. On average, analysts expect that Caterpillar Inc. will post 21.45 EPS for the current year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Tuesday, January 21st will be given a dividend of $1.41 per share. The ex-dividend date is Tuesday, January 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.55%. Caterpillar’s payout ratio is 25.56%.

Insider Activity at Caterpillar

In other Caterpillar news, Director Gerald Johnson bought 100 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were bought at an average price of $398.57 per share, for a total transaction of $39,857.00. Following the transaction, the director now directly owns 2,953 shares in the company, valued at approximately $1,176,977.21. This trade represents a 3.51 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anthony D. Fassino sold 6,279 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $408.59, for a total value of $2,565,536.61. Following the completion of the transaction, the insider now owns 33,565 shares in the company, valued at approximately $13,714,323.35. The trade was a 15.76 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is owned by corporate insiders.

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.