Vest Financial LLC Sells 50,534 Shares of Caterpillar Inc. $CAT

Vest Financial LLC cut its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 26.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 140,312 shares of the industrial products company’s stock after selling 50,534 shares during the quarter. Caterpillar makes up 0.9% of Vest Financial LLC’s portfolio, making the stock its 18th largest position. Vest Financial LLC’s holdings in Caterpillar were worth $66,950,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Kilter Group LLC acquired a new position in Caterpillar during the second quarter valued at approximately $27,000. Mid American Wealth Advisory Group Inc. acquired a new position in shares of Caterpillar during the 2nd quarter worth approximately $28,000. Marquette Asset Management LLC raised its stake in shares of Caterpillar by 1,060.0% during the 3rd quarter. Marquette Asset Management LLC now owns 58 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 53 shares in the last quarter. RiverPark Advisors LLC acquired a new stake in shares of Caterpillar in the 2nd quarter valued at approximately $32,000. Finally, Joseph Group Capital Management bought a new position in shares of Caterpillar in the third quarter valued at $32,000. Institutional investors own 70.98% of the company’s stock.

Insider Activity at Caterpillar

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $575.06, for a total value of $5,750,600.00. Following the transaction, the chief financial officer owned 45,460 shares in the company, valued at approximately $26,142,227.60. This trade represents a 18.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lange Bob De sold 14,638 shares of the firm’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $562.36, for a total value of $8,231,825.68. Following the completion of the sale, the insider directly owned 80,209 shares in the company, valued at approximately $45,106,333.24. This represents a 15.43% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 54,729 shares of company stock worth $31,084,308 in the last quarter. 0.33% of the stock is currently owned by corporate insiders.

Caterpillar Stock Down 2.8%

CAT opened at $628.61 on Wednesday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.86 and a current ratio of 1.38. The stock has a fifty day moving average of $589.63 and a 200-day moving average of $506.98. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $655.68. The company has a market capitalization of $294.18 billion, a P/E ratio of 32.27, a P/E/G ratio of 2.50 and a beta of 1.57.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Monday, November 3rd. The industrial products company reported $4.95 earnings per share for the quarter, topping the consensus estimate of $4.52 by $0.43. Caterpillar had a net margin of 14.34% and a return on equity of 47.16%. The business had revenue of $17.64 billion during the quarter, compared to analysts’ expectations of $16.72 billion. During the same quarter in the previous year, the company earned $5.17 EPS. The business’s revenue was up 9.5% on a year-over-year basis. On average, equities analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 19th. Stockholders of record on Tuesday, January 20th will be given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Tuesday, January 20th. Caterpillar’s dividend payout ratio is presently 31.01%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CAT. Argus increased their price target on shares of Caterpillar from $460.00 to $625.00 and gave the company a “buy” rating in a research note on Wednesday, November 19th. UBS Group raised their target price on shares of Caterpillar from $506.00 to $581.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. Truist Financial reissued a “buy” rating and set a $729.00 price target (up previously from $582.00) on shares of Caterpillar in a research report on Thursday, October 30th. Sanford C. Bernstein raised their price objective on Caterpillar from $557.00 to $630.00 and gave the company a “market perform” rating in a research report on Friday, December 19th. Finally, Wells Fargo & Company started coverage on Caterpillar in a report on Thursday, November 13th. They set an “overweight” rating and a $675.00 target price on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Caterpillar presently has an average rating of “Moderate Buy” and an average price target of $625.85.

Caterpillar 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.