Institute for Wealth Management LLC. Sells 55 Shares of Caterpillar Inc. (NYSE:CAT)

Institute for Wealth Management LLC. cut its holdings in Caterpillar Inc. (NYSE:CAT) by 1.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,082 shares of the industrial products company’s stock after selling 55 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Caterpillar were worth $1,502,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CAT. BCK Partners Inc. bought a new position in shares of Caterpillar during the first quarter worth $2,580,000. Sei Investments Co. lifted its holdings in Caterpillar by 17.3% during the first quarter. Sei Investments Co. now owns 65,643 shares of the industrial products company’s stock worth $14,634,000 after acquiring an additional 9,695 shares in the last quarter. Dakota Wealth Management acquired a new position in Caterpillar in the first quarter valued at about $405,000. Mather Group LLC. increased its holdings in shares of Caterpillar by 6.8% in the first quarter. Mather Group LLC. now owns 2,592 shares of the industrial products company’s stock worth $577,000 after acquiring an additional 165 shares in the last quarter. Finally, NewEdge Advisors LLC raised its position in shares of Caterpillar by 4.4% during the first quarter. NewEdge Advisors LLC now owns 49,705 shares of the industrial products company’s stock worth $11,075,000 after purchasing an additional 2,076 shares during the period. Institutional investors own 70.98% of the company’s stock.

Analyst Ratings Changes

CAT has been the subject of several research analyst reports. Robert W. Baird upped their price target on shares of Caterpillar from $210.00 to $257.00 and gave the company an “underperform” rating in a report on Tuesday, February 6th. Oppenheimer reiterated a “market perform” rating on shares of Caterpillar in a report on Thursday. JPMorgan Chase & Co. boosted their price target on Caterpillar from $385.00 to $435.00 and gave the company an “overweight” rating in a report on Tuesday. Citigroup lifted their target price on Caterpillar from $255.00 to $340.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. Finally, Truist Financial started coverage on Caterpillar in a research report on Thursday, March 14th. They set a “buy” rating and a $390.00 price target for the company. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $307.56.

Caterpillar Stock Performance

Shares of Caterpillar stock traded down $3.11 during trading on Friday, hitting $353.52. 1,973,566 shares of the stock were exchanged, compared to its average volume of 2,427,173. The company has a current ratio of 1.35, a quick ratio of 0.87 and a debt-to-equity ratio of 1.25. The company has a fifty day moving average price of $345.95 and a 200-day moving average price of $297.21. The stock has a market capitalization of $176.55 billion, a price-to-earnings ratio of 17.77, a price-to-earnings-growth ratio of 1.59 and a beta of 1.17. Caterpillar Inc. has a 1-year low of $204.04 and a 1-year high of $382.01.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Monday, February 5th. The industrial products company reported $5.23 earnings per share for the quarter, topping analysts’ consensus estimates of $4.76 by $0.47. Caterpillar had a return on equity of 56.99% and a net margin of 15.41%. The firm had revenue of $17.07 billion for the quarter, compared to the consensus estimate of $17.06 billion. During the same quarter in the previous year, the business earned $3.86 earnings per share. The business’s revenue was up 2.8% compared to the same quarter last year. As a group, equities analysts predict that Caterpillar Inc. will post 21.4 EPS for the current fiscal year.

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, April 22nd will be given a dividend of $1.30 per share. The ex-dividend date is Friday, April 19th. This represents a $5.20 dividend on an annualized basis and a yield of 1.47%. Caterpillar’s dividend payout ratio (DPR) is 25.82%.

Insider Buying and Selling at Caterpillar

In related news, insider Lange Bob De sold 21,194 shares of Caterpillar stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $325.52, for a total transaction of $6,899,070.88. Following the completion of the sale, the insider now directly owns 61,092 shares of the company’s stock, valued at approximately $19,886,667.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Lange Bob De sold 21,194 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $325.52, for a total value of $6,899,070.88. Following the completion of the transaction, the insider now directly owns 61,092 shares in the company, valued at approximately $19,886,667.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $300.04, for a total transaction of $3,000,400.00. Following the sale, the chief financial officer now directly owns 67,317 shares of the company’s stock, valued at approximately $20,197,792.68. The disclosure for this sale can be found here. Insiders have sold a total of 45,769 shares of company stock worth $14,509,306 over the last ninety days. 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.