Nicholas Hoffman & Company LLC. Reduces Stock Position in Caterpillar Inc. (NYSE:CAT)

Nicholas Hoffman & Company LLC. lowered its stake in shares of Caterpillar Inc. (NYSE:CAT) by 1.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,290 shares of the industrial products company’s stock after selling 164 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in Caterpillar were worth $4,096,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CAT. Retirement Wealth Solutions LLC purchased a new stake in shares of Caterpillar in the fourth quarter worth $34,000. Capital Performance Advisors LLP purchased a new stake in shares of Caterpillar in the third quarter worth $36,000. Albion Financial Group UT raised its position in shares of Caterpillar by 334.8% in the fourth quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock worth $36,000 after buying an additional 77 shares in the last quarter. Kimelman & Baird LLC raised its position in shares of Caterpillar by 42.9% in the third quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock worth $39,000 after buying an additional 30 shares in the last quarter. Finally, Trivant Custom Portfolio Group LLC raised its position in shares of Caterpillar by 130.0% in the fourth quarter. Trivant Custom Portfolio Group LLC now owns 115 shares of the industrial products company’s stock worth $42,000 after buying an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Down 0.1 %

Shares of NYSE:CAT opened at $353.31 on Monday. The stock’s 50-day moving average price is $372.47 and its 200-day moving average price is $372.14. Caterpillar Inc. has a 12-month low of $307.05 and a 12-month high of $418.50. The stock has a market capitalization of $170.58 billion, a P/E ratio of 16.01, a price-to-earnings-growth ratio of 1.94 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 posted its earnings results 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 net margin of 16.65% and a return on equity of 58.18%. On average, equities analysts anticipate that Caterpillar Inc. will post 20.05 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. Stockholders of record on Tuesday, January 21st will be issued a dividend of $1.41 per share. The ex-dividend date is Tuesday, January 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.60%. Caterpillar’s dividend payout ratio is currently 25.56%.

Insider Transactions at Caterpillar

In other news, Director Gerald Johnson bought 100 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was bought at an average cost of $365.57 per share, for a total transaction of $36,557.00. Following the completion of the acquisition, 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 acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the completion of the sale, the chief financial officer now owns 45,182 shares of the company’s stock, valued at $17,173,226.38. This trade represents a 18.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CAT. DA Davidson increased their price objective on Caterpillar from $350.00 to $357.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Jefferies Financial Group increased their price objective on Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Bank of America reduced their target price on Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Robert W. Baird increased their target price on Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research note on Thursday, October 31st. Finally, Morgan Stanley reduced their target price on Caterpillar from $330.00 to $300.00 and set an “underweight” rating on the stock in a research note on Friday, January 31st. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $383.13.

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.