Avidian Wealth Solutions LLC Lowers Position in Caterpillar Inc. (NYSE:CAT)

Avidian Wealth Solutions LLC lessened its stake in Caterpillar Inc. (NYSE:CAT) by 9.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,470 shares of the industrial products company’s stock after selling 547 shares during the quarter. Avidian Wealth Solutions LLC’s holdings in Caterpillar were worth $1,617,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. McIlrath & Eck LLC increased its stake in Caterpillar by 4.4% during the fourth quarter. McIlrath & Eck LLC now owns 789 shares of the industrial products company’s stock worth $233,000 after acquiring an additional 33 shares during the last quarter. Lodestar Private Asset Management LLC grew its position in Caterpillar by 4.4% during the 4th quarter. Lodestar Private Asset Management LLC now owns 830 shares of the industrial products company’s stock worth $245,000 after purchasing an additional 35 shares during the last quarter. Desjardins Global Asset Management Inc. lifted its position in Caterpillar by 1.4% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 2,616 shares of the industrial products company’s stock worth $774,000 after acquiring an additional 35 shares during the period. Cornerstone Wealth Management LLC increased its stake in Caterpillar by 1.0% in the 4th quarter. Cornerstone Wealth Management LLC now owns 3,507 shares of the industrial products company’s stock valued at $1,037,000 after buying an additional 36 shares during the period. Finally, ACT Wealth Management LLC increased its position in Caterpillar by 4.3% during the 4th quarter. ACT Wealth Management LLC now owns 877 shares of the industrial products company’s stock worth $259,000 after purchasing an additional 36 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Stock Performance

Shares of CAT stock traded up $1.31 on Friday, reaching $336.75. The stock had a trading volume of 1,977,087 shares, compared to its average volume of 2,750,444. The company has a quick ratio of 0.83, a current ratio of 1.35 and a debt-to-equity ratio of 1.41. Caterpillar Inc. has a 12 month low of $205.60 and a 12 month high of $382.01. The firm’s 50-day moving average is $351.89 and its two-hundred day moving average is $303.64. The firm has a market capitalization of $164.69 billion, a price-to-earnings ratio of 15.20, a P/E/G ratio of 1.44 and a beta of 1.19.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Thursday, April 25th. The industrial products company reported $5.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.12 by $0.48. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. The company had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $16.07 billion. On average, research analysts expect that Caterpillar Inc. will post 21.79 EPS for the current fiscal year.

Caterpillar Announces Dividend

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. The ex-dividend date is Friday, April 19th. This represents a $5.20 dividend on an annualized basis and a yield of 1.54%. Caterpillar’s dividend payout ratio (DPR) is presently 23.48%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CAT shares. StockNews.com downgraded shares of Caterpillar from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 20th. The Goldman Sachs Group boosted their price target on Caterpillar from $357.00 to $408.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Evercore ISI lowered shares of Caterpillar from an “outperform” rating to an “in-line” rating and upped their target price for the company from $321.00 to $338.00 in a research note on Tuesday, February 20th. Robert W. Baird increased their target price on shares of Caterpillar from $210.00 to $257.00 and gave the stock an “underperform” rating in a report on Tuesday, February 6th. Finally, Morgan Stanley initiated coverage on Caterpillar in a report on Monday, January 8th. They issued an “equal weight” rating and a $270.00 price target on the stock. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $323.35.

Insider Activity at Caterpillar

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

About Caterpillar

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.