Gabelli Funds LLC Sells 3,120 Shares of Caterpillar Inc. (NYSE:CAT)

by · The Cerbat Gem

Gabelli Funds LLC decreased its holdings in shares of Caterpillar Inc. (NYSE:CAT – Free Report) by 2.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 109,655 shares of the industrial products company’s stock after selling 3,120 shares during the quarter. Gabelli Funds LLC’s holdings in Caterpillar were worth $39,778,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Nordea Investment Management AB lifted its holdings in shares of Caterpillar by 1.6% in the fourth quarter. Nordea Investment Management AB now owns 635,750 shares of the industrial products company’s stock worth $231,686,000 after buying an additional 10,212 shares in the last quarter. West Wealth Group LLC bought a new position in Caterpillar in the 4th quarter valued at $230,000. Cadinha & Co. LLC bought a new position in shares of Caterpillar in the fourth quarter worth $11,084,000. Atomi Financial Group Inc. raised its position in shares of Caterpillar by 3.9% in the fourth quarter. Atomi Financial Group Inc. now owns 23,193 shares of the industrial products company’s stock worth $8,414,000 after buying an additional 871 shares in the last quarter. Finally, Copley Financial Group Inc. purchased a new position in Caterpillar during the third quarter worth about $800,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Activity

In other Caterpillar news, insider Jason Kaiser sold 2,425 shares of Caterpillar stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total value of $860,147.50. Following the completion of the sale, the insider now owns 6,275 shares of the company’s stock, valued at approximately $2,225,742.50. The trade was a 27.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gerald Johnson purchased 100 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were purchased at an average price of $365.57 per share, with a total value of $36,557.00. Following the completion of the purchase, 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 ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CAT shares. DA Davidson raised their target price on shares of Caterpillar from $350.00 to $357.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. UBS Group upgraded shares of Caterpillar from a “sell” rating to a “neutral” rating and upped their target price for the stock from $355.00 to $385.00 in a research report on Monday, February 3rd. Truist Financial lowered their price target on Caterpillar from $438.00 to $389.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Wedbush upgraded Caterpillar to an “outperform” rating in a research report on Monday, February 3rd. Finally, Raymond James upgraded Caterpillar from a “market perform” rating to an “outperform” rating in a research report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Caterpillar has an average rating of “Hold” and a consensus target price of $365.87.

View Our Latest Research Report on Caterpillar

Caterpillar Price Performance

Shares of CAT stock opened at $298.07 on Tuesday. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $418.50. The stock has a market cap of $142.46 billion, a price-to-earnings ratio of 13.51, a PEG ratio of 1.87 and a beta of 1.21. 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 business’s fifty day moving average is $332.75 and its 200 day moving average is $366.35.

Caterpillar (NYSE:CAT – Get Free Report) last announced its earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share for the quarter, beating 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%. Research analysts expect that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Monday, April 21st will be issued a $1.41 dividend. The ex-dividend date is Monday, April 21st. This represents a $5.64 annualized dividend and a yield of 1.89%. Caterpillar’s dividend payout ratio (DPR) is presently 25.56%.

Caterpillar Company Profile

(Free Report)

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.

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