Caterpillar Inc. (NYSE:CAT) Shares Sold by Tufton Capital Management

Tufton Capital Management trimmed its position in shares of Caterpillar Inc. (NYSE:CAT) by 4.1% during the fourth quarter, Holdings Channel reports. The firm owned 31,007 shares of the industrial products company’s stock after selling 1,325 shares during the quarter. Caterpillar makes up approximately 1.9% of Tufton Capital Management’s portfolio, making the stock its 15th biggest holding. Tufton Capital Management’s holdings in Caterpillar were worth $9,168,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Gilfoyle & Co LLC acquired a new stake in shares of Caterpillar during the fourth quarter worth about $30,000. A.P. Gilfoyle & Co. L.P. purchased a new stake in Caterpillar during the 4th quarter worth approximately $30,000. Atlas Capital Advisors LLC lifted its holdings in Caterpillar by 272.4% during the 1st quarter. Atlas Capital Advisors LLC now owns 108 shares of the industrial products company’s stock worth $25,000 after buying an additional 79 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Caterpillar by 730.8% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 108 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 95 shares in the last quarter. Finally, First Capital Advisors Group LLC. purchased a new stake in shares of Caterpillar during the second quarter worth $30,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Lange Bob De sold 21,194 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $325.52, for a total value of $6,899,070.88. Following the transaction, the insider now owns 61,092 shares of the company’s stock, valued at $19,886,667.84. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Lange Bob De sold 21,194 shares of Caterpillar stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $325.52, for a total value of $6,899,070.88. Following the sale, the insider now owns 61,092 shares of the company’s stock, valued at $19,886,667.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Anthony D. Fassino sold 4,575 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $329.80, for a total transaction of $1,508,835.00. Following the transaction, the insider now directly owns 23,474 shares of the company’s stock, valued at $7,741,725.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,769 shares of company stock valued at $14,509,306. 0.33% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Truist Financial began coverage on Caterpillar in a report on Thursday, March 14th. They issued a “buy” rating and a $390.00 target price for the company. Morgan Stanley started coverage on shares of Caterpillar in a research note on Monday, January 8th. They set an “equal weight” rating and a $270.00 target price on the stock. TD Cowen lifted their price target on shares of Caterpillar from $300.00 to $338.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 6th. The Goldman Sachs Group increased their price objective on shares of Caterpillar from $357.00 to $408.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Sanford C. Bernstein lifted their price objective on shares of Caterpillar from $216.00 to $245.00 and gave the stock a “market perform” rating in a research report on Thursday, December 21st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Caterpillar has an average rating of “Hold” and an average target price of $307.56.

Caterpillar Stock Performance

Shares of CAT stock traded up $4.49 during trading hours on Thursday, hitting $362.81. The stock had a trading volume of 623,732 shares, compared to its average volume of 2,410,437. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.35 and a quick ratio of 0.87. The firm has a market capitalization of $181.19 billion, a PE ratio of 17.79, a PEG ratio of 1.60 and a beta of 1.17. The stock’s 50 day moving average is $345.24 and its 200 day moving average is $296.78. Caterpillar Inc. has a twelve month low of $204.04 and a twelve month high of $382.01.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Monday, February 5th. The industrial products company reported $5.23 earnings per share for the quarter, topping analysts’ consensus estimates of $4.76 by $0.47. The firm had revenue of $17.07 billion during the quarter, compared to analysts’ expectations of $17.06 billion. Caterpillar had a net margin of 15.41% and a return on equity of 56.99%. Caterpillar’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.86 EPS. As a group, research analysts forecast that Caterpillar Inc. will post 21.33 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, April 22nd will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend is Friday, April 19th. Caterpillar’s dividend payout ratio is presently 25.82%.

Caterpillar Company 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.