AM Investment Strategies LLC Decreases Holdings in Caterpillar Inc. (NYSE:CAT)

AM Investment Strategies LLC cut its stake in shares of Caterpillar Inc. (NYSE:CAT) by 4.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,383 shares of the industrial products company’s stock after selling 199 shares during the period. AM Investment Strategies LLC’s holdings in Caterpillar were worth $1,296,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Gilfoyle & Co LLC purchased a new stake in Caterpillar during the 4th quarter valued at $30,000. Fortitude Family Office LLC purchased a new stake in shares of Caterpillar in the 4th quarter worth $39,000. Authentikos Wealth Advisory LLC purchased a new stake in shares of Caterpillar in the 3rd quarter worth $41,000. Rational Advisors LLC purchased a new stake in shares of Caterpillar in the 3rd quarter worth $42,000. Finally, Milestone Investment Advisors LLC purchased a new stake in shares of Caterpillar in the 3rd quarter worth $44,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Trading Down 7.0 %

Shares of NYSE:CAT traded down $25.28 during trading on Thursday, reaching $338.24. The company’s stock had a trading volume of 6,457,682 shares, compared to its average volume of 2,486,411. The company has a current ratio of 1.35, a quick ratio of 0.87 and a debt-to-equity ratio of 1.25. Caterpillar Inc. has a 12 month low of $204.04 and a 12 month high of $382.01. The firm’s 50 day simple moving average is $349.67 and its two-hundred day simple moving average is $300.30. The stock has a market capitalization of $168.92 billion, a PE ratio of 16.79, a price-to-earnings-growth ratio of 1.62 and a beta of 1.17.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Monday, February 5th. The industrial products company reported $5.23 EPS for the quarter, beating analysts’ consensus estimates of $4.76 by $0.47. Caterpillar had a net margin of 15.41% and a return on equity of 56.99%. The firm had revenue of $17.07 billion during the quarter, compared to the consensus estimate of $17.06 billion. During the same quarter last year, the firm earned $3.86 EPS. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, research analysts predict that Caterpillar Inc. will post 21.32 EPS for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, April 22nd will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend is Friday, April 19th. Caterpillar’s payout ratio is 25.82%.

Insider Activity at Caterpillar

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $310.10, for a total value of $3,101,000.00. Following the completion of the sale, the chief financial officer now owns 57,317 shares of the company’s stock, valued at $17,774,001.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Caterpillar news, insider Anthony D. Fassino sold 4,575 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 23,474 shares in the company, valued at $7,741,725.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $310.10, for a total value of $3,101,000.00. Following the transaction, the chief financial officer now owns 57,317 shares of the company’s stock, valued at approximately $17,774,001.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,769 shares of company stock valued at $11,508,906. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

CAT has been the subject of several analyst reports. StockNews.com lowered Caterpillar from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 20th. Oppenheimer reiterated a “market perform” rating on shares of Caterpillar in a research note on Thursday, April 18th. Evercore ISI lowered Caterpillar from an “outperform” rating to an “in-line” rating and increased their price target for the stock from $321.00 to $338.00 in a research note on Tuesday, February 20th. Truist Financial assumed coverage on Caterpillar in a research note on Thursday, March 14th. They issued a “buy” rating and a $390.00 price target for the company. Finally, Morgan Stanley assumed coverage on Caterpillar in a research note on Monday, January 8th. They issued an “equal weight” rating and a $270.00 price target for the company. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Caterpillar currently has a consensus rating of “Hold” and an average price target of $307.56.

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.