Caterpillar Inc. $CAT Shares Sold by Minneapolis Portfolio Management Group LLC

Minneapolis Portfolio Management Group LLC lowered its stake in shares of Caterpillar Inc. (NYSE:CAT) by 24.2% in the fourth quarter, HoldingsChannel reports. The firm owned 69,216 shares of the industrial products company’s stock after selling 22,076 shares during the quarter. Caterpillar makes up approximately 4.5% of Minneapolis Portfolio Management Group LLC’s holdings, making the stock its 4th largest holding. Minneapolis Portfolio Management Group LLC’s holdings in Caterpillar were worth $39,652,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CAT. Illinois Municipal Retirement Fund raised its stake in Caterpillar by 7.3% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 17,262 shares of the industrial products company’s stock valued at $8,237,000 after acquiring an additional 1,181 shares in the last quarter. Caprock Group LLC bought a new stake in shares of Caterpillar in the 3rd quarter worth $8,893,000. State of New Jersey Common Pension Fund D raised its stake in shares of Caterpillar by 2.5% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 165,677 shares of the industrial products company’s stock worth $79,053,000 after buying an additional 4,010 shares in the last quarter. Juno Financial Group LLC bought a new stake in shares of Caterpillar in the 4th quarter worth $877,000. Finally, ARK Investment Management LLC raised its stake in shares of Caterpillar by 11.7% in the 3rd quarter. ARK Investment Management LLC now owns 31,144 shares of the industrial products company’s stock worth $14,860,000 after buying an additional 3,268 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Stock Down 1.1%

Shares of Caterpillar stock opened at $865.95 on Tuesday. The stock’s fifty day moving average is $814.65 and its 200-day moving average is $705.34. The firm has a market capitalization of $398.85 billion, a PE ratio of 43.10, a price-to-earnings-growth ratio of 1.73 and a beta of 1.59. The company has a quick ratio of 0.81, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. Caterpillar Inc. has a 12-month low of $339.50 and a 12-month high of $931.35.

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

Caterpillar Announces Dividend

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

Insider Buying and Selling at Caterpillar

In other news, insider Anthony D. Fassino sold 16,283 shares of Caterpillar stock in a transaction on Monday, May 11th. The stock was sold at an average price of $916.80, for a total transaction of $14,928,254.40. Following the transaction, the insider owned 46,041 shares in the company, valued at approximately $42,210,388.80. The trade was a 26.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Lange Bob De sold 24,222 shares of Caterpillar stock in a transaction 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 transaction, the insider owned 86,029 shares in the company, valued at $79,397,884.68. This represents a 21.97% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 98,273 shares of company stock valued at $89,439,960 in the last ninety days. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

CAT has been the topic of a number of research reports. Williams Trading set a $825.00 price objective on Caterpillar in a research note on Tuesday, March 10th. HSBC boosted their price objective on Caterpillar from $850.00 to $1,100.00 in a research note on Tuesday, May 5th. Weiss Ratings reissued a “buy (b-)” rating on shares of Caterpillar in a research note on Friday, May 8th. Wells Fargo & Company boosted their price objective on Caterpillar from $960.00 to $1,050.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Finally, Truist Financial set a $1,043.00 target price on Caterpillar in a research report on Friday, May 1st. Sixteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, Caterpillar 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.