Bahl & Gaynor Inc. Sells 65 Shares of Caterpillar Inc. (NYSE:CAT)

Bahl & Gaynor Inc. trimmed its holdings in Caterpillar Inc. (NYSE:CAT) by 1.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 4,472 shares of the industrial products company’s stock after selling 65 shares during the quarter. Bahl & Gaynor Inc.’s holdings in Caterpillar were worth $1,322,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of CAT. Gilfoyle & Co LLC purchased a new position in Caterpillar in the 4th quarter valued at approximately $30,000. Fortitude Family Office LLC bought a new stake in shares of Caterpillar during the 4th quarter worth $39,000. Authentikos Wealth Advisory LLC bought a new stake in shares of Caterpillar during the 3rd quarter worth $41,000. Rational Advisors LLC bought a new stake in shares of Caterpillar during the 3rd quarter worth $42,000. Finally, Milestone Investment Advisors LLC bought a new stake in shares of Caterpillar during the 3rd quarter worth $44,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Caterpillar news, Director David Maclennan acquired 350 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were acquired at an average price of $323.37 per share, for a total transaction of $113,179.50. Following the completion of the acquisition, the director now owns 5,238 shares in the company, valued at $1,693,812.06. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director David Maclennan purchased 350 shares of the business’s stock in a transaction dated 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 acquisition, the director now directly owns 5,238 shares in the company, valued at approximately $1,693,812.06. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Lange Bob De sold 21,194 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $325.52, for a total transaction of $6,899,070.88. Following the sale, the insider now owns 61,092 shares in the company, valued at approximately $19,886,667.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,769 shares of company stock worth $11,508,906. 0.33% of the stock is currently owned by company insiders.

Caterpillar Price Performance

Shares of NYSE CAT opened at $343.38 on Friday. Caterpillar Inc. has a 1 year low of $204.04 and a 1 year high of $382.01. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.35 and a quick ratio of 0.87. The company’s 50-day moving average is $350.10 and its 200 day moving average is $300.80. The stock has a market capitalization of $171.48 billion, a P/E ratio of 15.50, a P/E/G ratio of 1.51 and a beta of 1.17.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Thursday, April 25th. The industrial products company reported $5.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.12 by $0.48. The company had revenue of $15.80 billion for the quarter, compared to analysts’ expectations of $16.07 billion. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. On average, sell-side analysts expect that Caterpillar Inc. will post 21.3 earnings per share for the current year.

Caterpillar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Shareholders 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 yield of 1.51%. The ex-dividend date of this dividend is Friday, April 19th. Caterpillar’s dividend payout ratio (DPR) is presently 23.48%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CAT. Morgan Stanley began coverage on shares of Caterpillar in a research note on Monday, January 8th. They issued an “equal weight” rating and a $270.00 price target for the company. JPMorgan Chase & Co. boosted their price target on shares of Caterpillar from $385.00 to $435.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 16th. Wells Fargo & Company boosted their price target on shares of Caterpillar from $290.00 to $325.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 6th. Oppenheimer reissued a “market perform” rating on shares of Caterpillar in a research note on Thursday, April 18th. Finally, 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 price target for the company. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $310.83.

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.