Caterpillar Inc. (CAT) Position Lowered by Sun Life Financial INC
Sun Life Financial INC reduced its stake in Caterpillar Inc. (NYSE:CAT) by 70.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,302 shares of the industrial products company’s stock after selling 3,052 shares during the period. Sun Life Financial INC’s holdings in Caterpillar were worth $205,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Bluestein R H & Co. lifted its stake in Caterpillar by 4.0% in the fourth quarter. Bluestein R H & Co. now owns 298,863 shares of the industrial products company’s stock valued at $47,095,000 after buying an additional 11,367 shares during the period. Risk Paradigm Group LLC lifted its stake in Caterpillar by 157.2% in the fourth quarter. Risk Paradigm Group LLC now owns 1,551 shares of the industrial products company’s stock valued at $244,000 after buying an additional 948 shares during the period. 180 Wealth Advisors LLC acquired a new position in Caterpillar in the fourth quarter valued at approximately $273,000. Pittenger & Anderson Inc. lifted its stake in Caterpillar by 20.7% in the fourth quarter. Pittenger & Anderson Inc. now owns 27,030 shares of the industrial products company’s stock valued at $4,259,000 after buying an additional 4,643 shares during the period. Finally, WESCAP Management Group Inc. acquired a new position in Caterpillar in the fourth quarter valued at approximately $567,000. 68.41% of the stock is currently owned by institutional investors.
Caterpillar Inc. (CAT) traded down $0.88 during midday trading on Monday, hitting $145.50. The stock had a trading volume of 677,219 shares, compared to its average volume of 6,530,543. Caterpillar Inc. has a 52-week low of $90.34 and a 52-week high of $173.24. The company has a market capitalization of $87,480.00, a P/E ratio of 27.82, a price-to-earnings-growth ratio of 1.57 and a beta of 1.23. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.97 and a current ratio of 1.35.
The business also recently declared a quarterly dividend, which was paid on Tuesday, February 20th. Investors of record on Monday, January 22nd were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, January 19th. This represents a $3.12 annualized dividend and a yield of 2.14%. Caterpillar’s dividend payout ratio (DPR) is currently 59.66%.
In related news, insider Thomas A. Pellette sold 95,199 shares of the company’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $163.09, for a total transaction of $15,526,004.91. Following the completion of the sale, the insider now owns 96,268 shares in the company, valued at $15,700,348.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Suzette M. Long sold 528 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $160.46, for a total value of $84,722.88. Following the sale, the general counsel now owns 19,646 shares of the company’s stock, valued at approximately $3,152,397.16. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.
Several equities analysts have issued reports on CAT shares. ValuEngine raised Caterpillar from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Vetr raised Caterpillar from a “buy” rating to a “strong-buy” rating and set a $180.95 price target on the stock in a research note on Thursday. Morgan Stanley started coverage on Caterpillar in a research note on Friday. They issued an “overweight” rating and a $185.00 price target on the stock. JPMorgan Chase & Co. raised Caterpillar from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $161.96 to $200.00 in a research note on Monday, January 8th. Finally, Bank of America boosted their price target on Caterpillar from $189.00 to $192.00 and gave the company a “buy” rating in a research note on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $169.06.
Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through segments, including Construction Industries, which is engaged in supporting customers using machinery in infrastructure, forestry and building construction; Resource Industries, which is engaged in supporting customers using machinery in mining, quarry, waste and material handling applications; Energy & Transportation, which supports customers in oil and gas, power generation, marine, rail and industrial applications, including Cat machines; Financial Products segment, which provides financing and related services, and All Other operating segments, which includes activities, such as product management and development, and manufacturing of filters and fluids, undercarriage, tires and rims, ground engaging tools, fluid transfer products, and sealing and connecting components for Cat products.
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