Douglas Lane & Associates LLC Has $1.70 Million Stake in Caterpillar Inc. (NYSE:CAT)

Douglas Lane & Associates LLC reduced its stake in Caterpillar Inc. (NYSE:CAT) by 2.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,697 shares of the industrial products company’s stock after selling 135 shares during the period. Douglas Lane & Associates LLC’s holdings in Caterpillar were worth $1,704,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC raised its holdings in Caterpillar by 39,534.0% in the 3rd quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock valued at $8,356,930,000 after buying an additional 2,131,276 shares during the last quarter. Altshuler Shaham Ltd increased its position in Caterpillar by 3,319.7% in the 2nd quarter. Altshuler Shaham Ltd now owns 275,011 shares of the industrial products company’s stock valued at $91,606,000 after acquiring an additional 266,969 shares during the period. Zurich Insurance Group Ltd FI raised its stake in shares of Caterpillar by 4,018.6% during the third quarter. Zurich Insurance Group Ltd FI now owns 255,355 shares of the industrial products company’s stock valued at $99,874,000 after acquiring an additional 249,155 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Caterpillar by 2.3% during the third quarter. Fisher Asset Management LLC now owns 8,952,632 shares of the industrial products company’s stock worth $3,501,554,000 after purchasing an additional 205,012 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Caterpillar by 34.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 782,133 shares of the industrial products company’s stock worth $305,908,000 after purchasing an additional 200,210 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Daniel M. Dickinson sold 1,300 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $418.00, for a total value of $543,400.00. Following the completion of the sale, the director now owns 4,976 shares in the company, valued at $2,079,968. This represents a 20.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gerald Johnson purchased 100 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were purchased at an average price of $398.57 per share, for a total transaction of $39,857.00. Following the completion of the acquisition, the director now owns 2,953 shares of the company’s stock, valued at $1,176,977.21. The trade was a 3.51 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 23,868 shares of company stock valued at $9,679,489. Corporate insiders own 0.29% of the company’s stock.

Caterpillar Trading Down 0.6 %

NYSE CAT opened at $360.75 on Thursday. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. Caterpillar Inc. has a 52 week low of $276.94 and a 52 week high of $418.50. The business has a 50 day moving average price of $383.04 and a 200-day moving average price of $365.03. The company has a market cap of $174.17 billion, a price-to-earnings ratio of 16.72, a P/E/G ratio of 1.92 and a beta of 1.13.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing the consensus estimate of $5.33 by ($0.16). Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The business had revenue of $16.11 billion for the quarter, compared to analyst estimates of $16.37 billion. The business’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.52 EPS. As a group, equities analysts expect that Caterpillar Inc. will post 21.68 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st will be paid a dividend of $1.41 per share. The ex-dividend date is Tuesday, January 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.56%. Caterpillar’s dividend payout ratio (DPR) is currently 26.15%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Evercore ISI downgraded Caterpillar from an “in-line” rating to an “underperform” rating and lifted their target price for the stock from $321.00 to $365.00 in a report on Wednesday, November 13th. Citigroup upped their target price on Caterpillar from $435.00 to $460.00 and gave the company a “buy” rating in a report on Monday, December 9th. Bank of America raised their price target on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a report on Monday, September 30th. StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Truist Financial boosted their target price on shares of Caterpillar from $454.00 to $471.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Caterpillar presently has a consensus rating of “Hold” and a consensus target price of $384.33.

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.