Intellectus Partners LLC Reduces Stock Position in Caterpillar Inc. $CAT

Intellectus Partners LLC cut its stake in Caterpillar Inc. (NYSE:CAT) by 52.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,617 shares of the industrial products company’s stock after selling 2,879 shares during the period. Intellectus Partners LLC’s holdings in Caterpillar were worth $1,499,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in CAT. Torren Management LLC purchased a new position in shares of Caterpillar during the 4th quarter worth approximately $27,000. Frazier Financial Advisors LLC increased its stake in shares of Caterpillar by 220.0% during the 4th quarter. Frazier Financial Advisors LLC now owns 48 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 33 shares in the last quarter. IFS Advisors LLC purchased a new position in shares of Caterpillar during the 4th quarter worth approximately $31,000. Rialto Wealth Management LLC increased its stake in shares of Caterpillar by 47.4% during the 4th quarter. Rialto Wealth Management LLC now owns 56 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 18 shares in the last quarter. Finally, Noble Wealth Management PBC increased its stake in shares of Caterpillar by 140.0% during the 4th quarter. Noble Wealth Management PBC now owns 60 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 35 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. DA Davidson raised their price objective on shares of Caterpillar from $650.00 to $845.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Wolfe Research raised their price objective on shares of Caterpillar from $670.00 to $750.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 31st. Jefferies Financial Group raised their price objective on shares of Caterpillar from $900.00 to $1,045.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Rothschild & Co Redburn raised their price objective on shares of Caterpillar from $700.00 to $950.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Finally, Bank of America raised their price objective on shares of Caterpillar from $930.00 to $989.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Sixteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $933.27.

Insider Transactions at Caterpillar

In other Caterpillar news, insider Lange Bob De sold 24,222 shares of Caterpillar 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 completion of the sale, the insider directly owned 86,029 shares of the company’s stock, valued at approximately $79,397,884.68. The trade was a 21.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Andrew R. J. Bonfield sold 15,674 shares of Caterpillar stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $918.71, for a total transaction of $14,399,860.54. Following the completion of the transaction, the chief financial officer owned 52,935 shares in the company, valued at approximately $48,631,913.85. This trade represents a 22.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 95,773 shares of company stock worth $87,642,635 in the last three months. 0.33% of the stock is currently owned by company insiders.

Caterpillar Stock Up 1.9%

CAT stock opened at $927.18 on Thursday. The stock has a market capitalization of $427.05 billion, a P/E ratio of 46.15, a PEG ratio of 1.79 and a beta of 1.59. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.81 and a current ratio of 1.35. Caterpillar Inc. has a one year low of $345.85 and a one year high of $936.71. The company has a 50 day moving average price of $823.77 and a two-hundred day moving average price of $710.34.

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

Caterpillar Announces Dividend

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

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.