Caterpillar Inc. (NYSE:CAT) Shares Sold by Keystone Wealth Services LLC

Keystone Wealth Services LLC lessened its position in shares of Caterpillar Inc. (NYSE:CAT) by 6.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,450 shares of the industrial products company’s stock after selling 107 shares during the quarter. Keystone Wealth Services LLC’s holdings in Caterpillar were worth $526,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Caterpillar in the fourth quarter valued at about $27,000. Noble Wealth Management PBC acquired a new position in shares of Caterpillar during the 4th quarter worth approximately $31,000. Capital Performance Advisors LLP purchased a new stake in Caterpillar in the 3rd quarter valued at approximately $36,000. Retirement Wealth Solutions LLC purchased a new position in Caterpillar during the fourth quarter worth $34,000. Finally, Whipplewood Advisors LLC acquired a new position in shares of Caterpillar in the fourth quarter worth $36,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Caterpillar

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $380.09, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gerald Johnson acquired 100 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were purchased at an average price of $398.57 per share, for a total transaction of $39,857.00. Following the purchase, the director now directly owns 2,953 shares of the company’s stock, valued at approximately $1,176,977.21. This trade represents a 3.51 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.29% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts recently commented on the company. JPMorgan Chase & Co. decreased their price objective on Caterpillar from $515.00 to $490.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Truist Financial decreased their price target on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. StockNews.com lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. DA Davidson raised their target price on shares of Caterpillar from $350.00 to $357.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Finally, Morgan Stanley cut their price target on Caterpillar from $330.00 to $300.00 and set an “underweight” rating for the company in a report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $383.80.

Caterpillar Stock Performance

Caterpillar stock opened at $343.90 on Monday. The company has a market cap of $164.36 billion, a price-to-earnings ratio of 15.58, a price-to-earnings-growth ratio of 1.87 and a beta of 1.12. Caterpillar Inc. has a 12 month low of $307.05 and a 12 month high of $418.50. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. The stock’s 50-day moving average is $365.99 and its 200-day moving average is $373.20.

Caterpillar (NYSE:CAT) last posted its quarterly 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 net margin of 16.65% and a return on equity of 58.18%. Equities analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Tuesday, January 21st were issued a $1.41 dividend. The ex-dividend date of this dividend was Tuesday, January 21st. This represents a $5.64 annualized dividend and a yield of 1.64%. Caterpillar’s dividend payout ratio is currently 25.56%.

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.