IFG Advisory LLC Decreases Position in Caterpillar Inc. $CAT

IFG Advisory LLC trimmed its position in shares of Caterpillar Inc. (NYSE:CAT) by 21.1% during the fourth quarter, Holdings Channel reports. The firm owned 4,323 shares of the industrial products company’s stock after selling 1,154 shares during the quarter. IFG Advisory LLC’s holdings in Caterpillar were worth $2,476,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Torren Management LLC acquired a new stake in Caterpillar in the 4th quarter valued at about $27,000. Frazier Financial Advisors LLC grew its stake in Caterpillar by 220.0% in the 4th quarter. Frazier Financial Advisors LLC now owns 48 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 33 shares during the last quarter. IFS Advisors LLC acquired a new stake in Caterpillar in the 4th quarter valued at about $31,000. Rialto Wealth Management LLC grew its stake in Caterpillar by 47.4% in the 4th quarter. Rialto Wealth Management LLC now owns 56 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 18 shares during the last quarter. Finally, Noble Wealth Management PBC grew its stake in Caterpillar by 140.0% in the 4th quarter. Noble Wealth Management PBC now owns 60 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 35 shares during the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Price Performance

Caterpillar stock opened at $887.04 on Friday. Caterpillar Inc. has a 12-month low of $339.50 and a 12-month high of $931.35. The stock has a market capitalization of $408.56 billion, a P/E ratio of 44.15, a P/E/G ratio of 1.80 and a beta of 1.63. The firm’s 50-day moving average is $807.51 and its two-hundred day moving average is $701.11. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 0.81.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Thursday, April 30th. The industrial products company reported $5.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.65 by $0.89. Caterpillar had a net margin of 13.33% and a return on equity of 48.21%. The company had revenue of $17.42 billion for the quarter, compared to analysts’ expectations of $16.53 billion. During the same period last year, the company earned $4.25 EPS. The firm’s revenue for the quarter was up 22.2% compared to the same quarter last year. Equities analysts predict that Caterpillar Inc. will post 24.67 earnings per share for the current year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 19th. Investors of record on Monday, April 20th were given a dividend of $1.51 per share. The ex-dividend date was Monday, April 20th. This represents a $6.04 annualized dividend and a yield of 0.7%. Caterpillar’s dividend payout ratio is 30.06%.

Insider Activity

In related news, insider Lange Bob De sold 24,222 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $922.92, for a total value of $22,354,968.24. Following the sale, the insider directly owned 86,029 shares of the company’s stock, valued at approximately $79,397,884.68. This trade represents a 21.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Andrew R. J. Bonfield sold 15,674 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $918.71, for a total transaction of $14,399,860.54. Following the completion of the sale, the chief financial officer directly owned 52,935 shares in the company, valued at $48,631,913.85. This represents a 22.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 98,273 shares of company stock valued at $89,439,960 in the last three months. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Evercore reissued an “outperform” rating and issued a $1,103.00 price objective on shares of Caterpillar in a research note on Monday, May 11th. Royal Bank Of Canada increased their price objective on shares of Caterpillar from $587.00 to $658.00 and gave the company a “sector perform” rating in a research note on Friday, January 30th. Wells Fargo & Company increased their price objective on shares of Caterpillar from $960.00 to $1,050.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Argus increased their price objective on shares of Caterpillar from $820.00 to $990.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Finally, Williams Trading set a $825.00 price objective on shares of Caterpillar in a research note on Tuesday, March 10th. Sixteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $923.14.

Caterpillar Company Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.