Koshinski Asset Management Inc. Cuts Stock Holdings in Caterpillar Inc. (NYSE:CAT)

by · The Cerbat Gem

Koshinski Asset Management Inc. lowered its stake in Caterpillar Inc. (NYSE:CAT – Free Report) by 1.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,386 shares of the industrial products company’s stock after selling 199 shares during the quarter. Koshinski Asset Management Inc.’s holdings in Caterpillar were worth $6,394,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pacific Point Advisors LLC bought a new position in Caterpillar during the fourth quarter valued at approximately $579,000. Brighton Jones LLC raised its holdings in shares of Caterpillar by 51.5% during the 4th quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company’s stock worth $2,688,000 after acquiring an additional 2,519 shares in the last quarter. Whipplewood Advisors LLC bought a new position in shares of Caterpillar during the 4th quarter valued at approximately $36,000. Flputnam Investment Management Co. grew its holdings in shares of Caterpillar by 3.8% in the fourth quarter. Flputnam Investment Management Co. now owns 16,328 shares of the industrial products company’s stock valued at $5,923,000 after purchasing an additional 600 shares in the last quarter. Finally, SVB Wealth LLC bought a new stake in Caterpillar in the fourth quarter worth $2,531,000. Institutional investors own 70.98% of the company’s stock.

Insider Activity at Caterpillar

In other Caterpillar news, Director David Maclennan acquired 375 shares of Caterpillar stock in a transaction that occurred on Wednesday, May 7th. The stock was bought at an average price of $320.70 per share, with a total value of $120,262.50. Following the completion of the purchase, the director now directly owns 6,653 shares of the company’s stock, valued at approximately $2,133,617.10. This represents a 5.97% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.33% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have commented on CAT. Oppenheimer raised shares of Caterpillar from a “market perform” rating to an “outperform” rating and set a $395.00 price objective for the company in a research note on Thursday, May 1st. Baird R W upgraded Caterpillar from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 13th. JPMorgan Chase & Co. reduced their target price on shares of Caterpillar from $490.00 to $380.00 and set an “overweight” rating on the stock in a research note on Monday, April 14th. UBS Group upgraded shares of Caterpillar from a “sell” rating to a “neutral” rating and raised their target price for the stock from $272.00 to $357.00 in a report on Friday, May 16th. Finally, Truist Financial upped their price target on shares of Caterpillar from $396.00 to $414.00 and gave the company a “buy” rating in a report on Monday, June 23rd. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Caterpillar has an average rating of “Moderate Buy” and a consensus target price of $380.83.

View Our Latest Analysis on Caterpillar

Caterpillar Price Performance

Caterpillar stock opened at $385.18 on Monday. The stock has a market cap of $181.44 billion, a price-to-earnings ratio of 18.77, a price-to-earnings-growth ratio of 2.56 and a beta of 1.37. The firm has a 50-day moving average of $342.13 and a two-hundred day moving average of $345.93. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $418.50. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.32 and a quick ratio of 0.77.

Caterpillar (NYSE:CAT – Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.35 by ($0.10). The firm had revenue of $14.25 billion during the quarter, compared to the consensus estimate of $14.64 billion. Caterpillar had a return on equity of 53.77% and a net margin of 15.71%. The firm’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period last year, the company earned $5.60 EPS. On average, research analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st will be paid a dividend of $1.51 per share. The ex-dividend date of this dividend is Monday, July 21st. This represents a $6.04 annualized dividend and a dividend yield of 1.57%. This is a positive change from Caterpillar’s previous quarterly dividend of $1.41. Caterpillar’s dividend payout ratio (DPR) is currently 27.49%.

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.

Further Reading

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