Cheviot Value Management LLC Cuts Stake in Caterpillar Inc. (NYSE:CAT)

by · The Cerbat Gem

Cheviot Value Management LLC cut its holdings in Caterpillar Inc. (NYSE:CAT – Free Report) by 7.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 733 shares of the industrial products company’s stock after selling 55 shares during the quarter. Cheviot Value Management LLC’s holdings in Caterpillar were worth $266,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its stake in shares of Caterpillar by 0.7% during the 3rd quarter. Principal Financial Group Inc. now owns 729,654 shares of the industrial products company’s stock worth $285,382,000 after purchasing an additional 5,371 shares during the last quarter. SOA Wealth Advisors LLC. boosted its stake in Caterpillar by 47.2% in the third quarter. SOA Wealth Advisors LLC. now owns 156 shares of the industrial products company’s stock valued at $61,000 after acquiring an additional 50 shares in the last quarter. Tudor Financial Inc. purchased a new position in Caterpillar in the third quarter worth $854,000. Anchor Investment Management LLC increased its position in shares of Caterpillar by 2.9% during the third quarter. Anchor Investment Management LLC now owns 13,317 shares of the industrial products company’s stock worth $5,208,000 after purchasing an additional 376 shares in the last quarter. Finally, World Investment Advisors LLC boosted its position in shares of Caterpillar by 26.6% in the 3rd quarter. World Investment Advisors LLC now owns 4,012 shares of the industrial products company’s stock worth $1,569,000 after purchasing an additional 843 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on CAT. UBS Group upgraded shares of Caterpillar from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $355.00 to $385.00 in a research note on Monday, February 3rd. Evercore ISI boosted their price objective on shares of Caterpillar from $365.00 to $375.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. Wedbush raised Caterpillar to an “outperform” rating in a report on Monday, February 3rd. Morgan Stanley raised shares of Caterpillar from an “underweight” rating to an “equal weight” rating and reduced their price target for the stock from $300.00 to $283.00 in a research report on Wednesday, April 16th. Finally, DA Davidson reduced their target price on shares of Caterpillar from $357.00 to $325.00 and set a “neutral” rating for the company in a report on Monday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $359.36.

Check Out Our Latest Analysis on CAT

Insider Transactions at Caterpillar

In other news, Director Gerald Johnson bought 100 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were purchased at an average cost of $365.57 per share, for a total transaction of $36,557.00. Following the completion of the purchase, the director now owns 3,053 shares of the company’s stock, valued at approximately $1,116,085.21. This represents a 3.39 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jason Kaiser sold 2,425 shares of Caterpillar stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total transaction of $860,147.50. Following the completion of the transaction, the insider now owns 6,275 shares of the company’s stock, valued at $2,225,742.50. This represents a 27.87 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

Caterpillar Stock Performance

Shares of Caterpillar stock opened at $306.89 on Friday. The business’s fifty day simple moving average is $322.40 and its 200-day simple moving average is $361.21. 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 firm has a market cap of $146.67 billion, a PE ratio of 13.91, a price-to-earnings-growth ratio of 1.87 and a beta of 1.21. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $418.50.

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, topping 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 forecast that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Monday, April 21st will be paid a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date is Monday, April 21st. Caterpillar’s dividend payout ratio (DPR) is 25.56%.

About Caterpillar

(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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