Bank of New York Mellon Corp Has $1.18 Billion Stock Position in Caterpillar Inc. (NYSE:CAT)

Bank of New York Mellon Corp lessened its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 1.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,242,097 shares of the industrial products company’s stock after selling 41,198 shares during the quarter. Bank of New York Mellon Corp’s holdings in Caterpillar were worth $1,176,103,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CAT. Nordea Investment Management AB lifted its holdings in shares of Caterpillar by 1.6% during the 4th quarter. Nordea Investment Management AB now owns 635,750 shares of the industrial products company’s stock valued at $231,686,000 after purchasing an additional 10,212 shares in the last quarter. West Wealth Group LLC bought a new position in Caterpillar in the fourth quarter valued at approximately $230,000. Citizens Financial Group Inc. RI boosted its holdings in shares of Caterpillar by 43.0% in the third quarter. Citizens Financial Group Inc. RI now owns 13,902 shares of the industrial products company’s stock valued at $5,437,000 after buying an additional 4,181 shares during the period. Cadinha & Co. LLC bought a new stake in shares of Caterpillar during the fourth quarter worth $11,084,000. Finally, Atomi Financial Group Inc. raised its holdings in shares of Caterpillar by 3.9% during the fourth quarter. Atomi Financial Group Inc. now owns 23,193 shares of the industrial products company’s stock worth $8,414,000 after acquiring an additional 871 shares during the period. 70.98% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Anthony D. Fassino sold 6,279 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $408.59, for a total transaction of $2,565,536.61. Following the transaction, the insider now owns 33,565 shares in the company, valued at $13,714,323.35. This represents a 15.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction that occurred on Thursday, January 16th. The shares were 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 approximately $17,173,226.38. The trade was a 18.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,704 shares of company stock valued at $7,226,584 in the last ninety days. 0.29% of the stock is currently owned by corporate insiders.

Caterpillar Price Performance

NYSE:CAT opened at $338.65 on Tuesday. The firm’s fifty day moving average price is $368.73 and its two-hundred day moving average price is $373.05. 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 company has a market cap of $161.85 billion, a P/E ratio of 15.34, a P/E/G ratio of 1.87 and a beta of 1.12. Caterpillar Inc. has a one year low of $307.05 and a one year high of $418.50.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share 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 expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Tuesday, January 21st were paid a $1.41 dividend. The ex-dividend date was Tuesday, January 21st. This represents a $5.64 annualized dividend and a yield of 1.67%. Caterpillar’s dividend payout ratio (DPR) is presently 25.56%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. DA Davidson increased their target price on Caterpillar from $350.00 to $357.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Evercore ISI lifted their target price on Caterpillar from $365.00 to $375.00 and gave the company an “in-line” rating in a research report on Wednesday, February 19th. Jefferies Financial Group upped their price target 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 lowered their target price on Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Finally, Truist Financial reduced their price target on Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Caterpillar currently has a consensus rating of “Hold” and a consensus target price of $383.80.

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.