Caterpillar Inc. (NYSE:CAT) Shares Sold by Perigon Wealth Management LLC

Perigon Wealth Management LLC lowered its stake in Caterpillar Inc. (NYSE:CAT) by 9.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,540 shares of the industrial products company’s stock after selling 2,119 shares during the period. Perigon Wealth Management LLC’s holdings in Caterpillar were worth $7,817,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in shares of Caterpillar in the third quarter valued at approximately $36,000. Retirement Wealth Solutions LLC acquired a new position in shares of Caterpillar in the fourth quarter valued at approximately $34,000. Kimelman & Baird LLC increased its holdings in shares of Caterpillar by 42.9% in the third quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 30 shares during the period. Albion Financial Group UT grew its holdings in Caterpillar by 334.8% during the fourth quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 77 shares during the period. Finally, Trivant Custom Portfolio Group LLC grew its holdings in Caterpillar by 130.0% during the fourth quarter. Trivant Custom Portfolio Group LLC now owns 115 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 65 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

CAT has been the topic of a number of recent analyst reports. StockNews.com lowered Caterpillar from a “buy” rating to a “hold” rating in a report on Friday, January 17th. Truist Financial dropped their price objective on Caterpillar from $471.00 to $455.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Bank of America upped their price objective on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a report on Monday, September 30th. UBS Group upped their price objective on Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. boosted their target price on Caterpillar from $500.00 to $515.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Caterpillar presently has an average rating of “Hold” and an average target price of $380.60.

Caterpillar Stock Down 3.2 %

Shares of NYSE:CAT opened at $394.60 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. Caterpillar Inc. has a 52-week low of $297.45 and a 52-week high of $418.50. The stock’s fifty day simple moving average is $381.07 and its 200-day simple moving average is $369.79. The company has a market capitalization of $190.51 billion, a P/E ratio of 18.29, a P/E/G ratio of 1.97 and a beta of 1.13.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.33 by ($0.16). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The company had revenue of $16.11 billion during the quarter, compared to analysts’ expectations of $16.37 billion. During the same quarter in the prior year, the company earned $5.52 earnings per share. The firm’s revenue was down 4.2% compared to the same quarter last year. As a group, equities research analysts forecast that Caterpillar Inc. will post 21.69 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Tuesday, January 21st will be given a dividend of $1.41 per share. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $5.64 annualized dividend and a yield of 1.43%. Caterpillar’s dividend payout ratio (DPR) is presently 26.15%.

Insider Buying and Selling

In other Caterpillar news, CAO William E. Schaupp sold 968 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $380.98, for a total transaction of $368,788.64. Following the completion of the sale, the chief accounting officer now directly owns 1,686 shares in the company, valued at $642,332.28. This represents a 36.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Daniel M. Dickinson sold 1,300 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $418.00, for a total value of $543,400.00. Following the sale, the director now owns 4,976 shares of the company’s stock, valued at $2,079,968. This represents a 20.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,868 shares of company stock worth $13,480,389. 0.29% of the stock is owned by company insiders.

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.