SYM FINANCIAL Corp Lowers Stake in Caterpillar Inc. (NYSE:CAT)

SYM FINANCIAL Corp lessened its holdings in Caterpillar Inc. (NYSE:CAT) by 21.6% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 829 shares of the industrial products company’s stock after selling 228 shares during the period. SYM FINANCIAL Corp’s holdings in Caterpillar were worth $304,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Norges Bank purchased a new position in shares of Caterpillar in the fourth quarter worth $1,660,560,000. International Assets Investment Management LLC grew its position in shares of Caterpillar by 28,603.5% during the fourth quarter. International Assets Investment Management LLC now owns 1,494,018 shares of the industrial products company’s stock valued at $4,417,360,000 after purchasing an additional 1,488,813 shares in the last quarter. Capital Wealth Planning LLC increased its holdings in shares of Caterpillar by 27,495.2% in the fourth quarter. Capital Wealth Planning LLC now owns 1,182,453 shares of the industrial products company’s stock worth $349,616,000 after purchasing an additional 1,178,168 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Caterpillar by 19.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,264,635 shares of the industrial products company’s stock worth $947,875,000 after buying an additional 529,420 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich grew its holdings in Caterpillar by 5,293.1% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 482,360 shares of the industrial products company’s stock valued at $142,620,000 after buying an additional 473,416 shares in the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Stock Up 1.6 %

Shares of NYSE:CAT traded up $5.29 during trading hours on Friday, hitting $336.42. The company’s stock had a trading volume of 1,011,387 shares, compared to its average volume of 2,682,410. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.35 and a quick ratio of 0.83. The firm’s fifty day moving average price is $337.19 and its 200 day moving average price is $331.43. Caterpillar Inc. has a 52 week low of $223.76 and a 52 week high of $382.01. The company has a market capitalization of $164.53 billion, a price-to-earnings ratio of 15.18, a P/E/G ratio of 1.69 and a beta of 1.12.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Thursday, April 25th. The industrial products company reported $5.60 EPS for the quarter, topping analysts’ consensus estimates of $5.12 by $0.48. The company had revenue of $15.80 billion during the quarter, compared to the consensus estimate of $16.07 billion. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. As a group, research analysts expect that Caterpillar Inc. will post 21.73 EPS for the current year.

Caterpillar declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, June 12th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the industrial products company to purchase up to 12.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Caterpillar Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Monday, July 22nd will be given a dividend of $1.41 per share. The ex-dividend date is Monday, July 22nd. This represents a $5.64 dividend on an annualized basis and a yield of 1.68%. This is an increase from Caterpillar’s previous quarterly dividend of $1.30. Caterpillar’s dividend payout ratio (DPR) is presently 23.48%.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Lange Bob De sold 21,847 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $356.90, for a total transaction of $7,797,194.30. Following the completion of the sale, the insider now directly owns 71,115 shares of the company’s stock, valued at $25,380,943.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Caterpillar news, Director David Maclennan purchased 500 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was bought at an average cost of $337.39 per share, for a total transaction of $168,695.00. Following the completion of the purchase, the director now owns 5,738 shares in the company, valued at approximately $1,935,943.82. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lange Bob De sold 21,847 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $356.90, for a total transaction of $7,797,194.30. Following the transaction, the insider now owns 71,115 shares in the company, valued at approximately $25,380,943.50. The disclosure for this sale can be found here. 0.33% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on CAT shares. Oppenheimer reaffirmed a “market perform” rating on shares of Caterpillar in a report on Thursday, April 18th. JPMorgan Chase & Co. upped their target price on shares of Caterpillar from $385.00 to $435.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. Truist Financial began coverage on shares of Caterpillar in a research note on Thursday, March 14th. They issued a “buy” rating and a $390.00 target price on the stock. Raymond James began coverage on shares of Caterpillar in a research note on Friday, June 28th. They issued a “market perform” rating for the company. Finally, Stifel Nicolaus cut Caterpillar from a “buy” rating to a “hold” rating and upped their target price for the company from $293.00 to $350.00 in a research note on Friday, April 26th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Caterpillar presently has an average rating of “Hold” and an average target price of $329.63.

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.