James Investment Research Inc. Cuts Stake in Caterpillar Inc. (NYSE:CAT)

James Investment Research Inc. lowered its stake in Caterpillar Inc. (NYSE:CAT) by 1.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,613 shares of the industrial products company’s stock after selling 381 shares during the quarter. Caterpillar comprises approximately 1.4% of James Investment Research Inc.’s holdings, making the stock its 13th largest holding. James Investment Research Inc.’s holdings in Caterpillar were worth $11,468,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in CAT. Sheaff Brock Investment Advisors LLC increased its stake in Caterpillar by 128.0% during the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 16,500 shares of the industrial products company’s stock worth $5,986,000 after acquiring an additional 9,262 shares during the last quarter. Secured Retirement Advisors LLC increased its position in shares of Caterpillar by 44.5% during the 4th quarter. Secured Retirement Advisors LLC now owns 11,836 shares of the industrial products company’s stock valued at $4,294,000 after purchasing an additional 3,643 shares during the last quarter. Strategic Financial Concepts LLC raised its holdings in Caterpillar by 12.1% during the 4th quarter. Strategic Financial Concepts LLC now owns 702 shares of the industrial products company’s stock valued at $255,000 after buying an additional 76 shares during the period. Allworth Financial LP boosted its stake in Caterpillar by 146.3% during the fourth quarter. Allworth Financial LP now owns 60,832 shares of the industrial products company’s stock worth $24,188,000 after buying an additional 36,134 shares during the period. Finally, Principal Securities Inc. increased its position in Caterpillar by 5.1% during the fourth quarter. Principal Securities Inc. now owns 19,242 shares of the industrial products company’s stock valued at $6,980,000 after acquiring an additional 932 shares during the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CAT shares. JPMorgan Chase & Co. cut their price target on shares of Caterpillar from $515.00 to $490.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. DA Davidson raised their price target on Caterpillar from $350.00 to $357.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Bank of America cut their price objective on Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Truist Financial decreased their target price on Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Finally, StockNews.com upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $383.13.

Caterpillar Stock Performance

Shares of NYSE:CAT opened at $353.31 on Friday. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $170.58 billion, a price-to-earnings ratio of 16.01, a price-to-earnings-growth ratio of 1.94 and a beta of 1.12. The firm has a 50 day moving average of $372.47 and a 200 day moving average of $371.96. Caterpillar Inc. has a 52 week low of $307.05 and a 52 week high of $418.50.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $5.14 earnings per share for the quarter, topping analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. On average, sell-side analysts predict that Caterpillar Inc. will post 20.05 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Tuesday, January 21st will be given a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date is Tuesday, January 21st. Caterpillar’s payout ratio is currently 25.56%.

Insider Activity at Caterpillar

In other Caterpillar news, Director Gerald Johnson purchased 100 shares of Caterpillar stock in a transaction dated Tuesday, February 4th. The shares were acquired at an average cost of $365.57 per share, with a total value of $36,557.00. Following the completion of the transaction, the director now owns 3,053 shares in the company, valued at approximately $1,116,085.21. This trade represents a 3.39 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Anthony D. Fassino sold 6,279 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 33,565 shares of the company’s stock, valued at $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 currently owned by corporate 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.