Levin Capital Strategies L.P. Sells 3,015 Shares of Caterpillar Inc. (NYSE:CAT)

Levin Capital Strategies L.P. reduced its stake in Caterpillar Inc. (NYSE:CAT) by 2.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 108,069 shares of the industrial products company’s stock after selling 3,015 shares during the period. Caterpillar comprises approximately 3.4% of Levin Capital Strategies L.P.’s investment portfolio, making the stock its 4th largest position. Levin Capital Strategies L.P.’s holdings in Caterpillar were worth $31,953,000 as of its most recent SEC filing.

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

Caterpillar Price Performance

Shares of NYSE:CAT traded up $3.99 on Thursday, reaching $335.06. 1,122,142 shares of the company traded hands, compared to its average volume of 2,508,713. Caterpillar Inc. has a fifty-two week low of $205.60 and a fifty-two week high of $382.01. The company’s 50 day moving average is $351.36 and its 200-day moving average is $302.43. The stock has a market capitalization of $163.86 billion, a PE ratio of 14.95, a P/E/G ratio of 1.44 and a beta of 1.19. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.35 and a quick ratio of 0.83.

Caterpillar (NYSE:CAT) last released its earnings results on Thursday, April 25th. The industrial products company reported $5.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.12 by $0.48. The company had revenue of $15.80 billion during the quarter, compared to analyst estimates of $16.07 billion. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. As a group, analysts anticipate that Caterpillar Inc. will post 21.6 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, April 22nd will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Friday, April 19th. This represents a $5.20 annualized dividend and a dividend yield of 1.55%. Caterpillar’s dividend payout ratio is 23.48%.

Analyst Ratings Changes

Several equities analysts have issued reports on CAT shares. HSBC lifted their target price on Caterpillar from $330.00 to $360.00 and gave the company a “hold” rating in a research note on Tuesday. Citigroup increased their price target on Caterpillar from $255.00 to $340.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. Robert W. Baird raised their target price on Caterpillar from $210.00 to $257.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 6th. Morgan Stanley initiated coverage on Caterpillar in a research report on Monday, January 8th. They issued an “equal weight” rating and a $270.00 target price for the company. Finally, Stifel Nicolaus cut Caterpillar from a “buy” rating to a “hold” rating and boosted their price target for the stock from $293.00 to $350.00 in a research note on Friday, April 26th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $323.35.

Insider Buying and Selling

In other Caterpillar news, Director David Maclennan bought 350 shares of the stock in a transaction on Friday, February 23rd. The shares were purchased at an average cost of $323.37 per share, with a total value of $113,179.50. Following the completion of the transaction, the director now directly owns 5,238 shares of the company’s stock, valued at approximately $1,693,812.06. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $310.10, for a total transaction of $3,101,000.00. Following the transaction, the chief financial officer now directly owns 57,317 shares in the company, valued at $17,774,001.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David Maclennan purchased 350 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were purchased at an average price of $323.37 per share, for a total transaction of $113,179.50. Following the completion of the purchase, the director now directly owns 5,238 shares of the company’s stock, valued at $1,693,812.06. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 35,769 shares of company stock worth $11,508,906. Corporate insiders own 0.33% of the company’s stock.

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.