IVC Wealth Advisors LLC Reduces Stock Position in Caterpillar Inc. (NYSE:CAT)

IVC Wealth Advisors LLC cut its stake in Caterpillar Inc. (NYSE:CAT) by 8.7% in the fourth quarter, HoldingsChannel reports. The fund owned 3,985 shares of the industrial products company’s stock after selling 381 shares during the period. Caterpillar accounts for approximately 0.8% of IVC Wealth Advisors LLC’s investment portfolio, making the stock its 27th largest holding. IVC Wealth Advisors LLC’s holdings in Caterpillar were worth $1,446,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Geode Capital Management LLC raised its position in shares of Caterpillar by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 10,213,455 shares of the industrial products company’s stock worth $3,987,206,000 after purchasing an additional 67,148 shares during the last quarter. Fisher Asset Management LLC boosted its stake in Caterpillar by 2.3% during the third quarter. Fisher Asset Management LLC now owns 8,952,632 shares of the industrial products company’s stock worth $3,501,554,000 after buying an additional 205,012 shares during the last quarter. Legal & General Group Plc grew its holdings in Caterpillar by 2.0% in the 2nd quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company’s stock valued at $1,286,582,000 after buying an additional 75,973 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Caterpillar by 1.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,627,513 shares of the industrial products company’s stock worth $1,418,793,000 after acquiring an additional 64,452 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Caterpillar by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,227,378 shares of the industrial products company’s stock valued at $1,262,290,000 after acquiring an additional 8,088 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Price Performance

CAT stock opened at $406.87 on Friday. Caterpillar Inc. has a 1 year low of $288.34 and a 1 year high of $418.50. The firm has a market capitalization of $196.44 billion, a P/E ratio of 18.86, a P/E/G ratio of 1.97 and a beta of 1.13. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86. The business’s 50-day moving average is $380.20 and its two-hundred day moving average is $368.38.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The business had revenue of $16.11 billion during the quarter, compared to analyst estimates of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The firm’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.52 earnings per share. Analysts anticipate that Caterpillar Inc. will post 21.69 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The company 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 $1.41 dividend. The ex-dividend date is Tuesday, January 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.39%. Caterpillar’s dividend payout ratio (DPR) is presently 26.15%.

Insider Transactions at Caterpillar

In other Caterpillar news, CAO William E. Schaupp sold 968 shares of Caterpillar stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $380.98, for a total value of $368,788.64. Following the sale, the chief accounting officer now owns 1,686 shares of the company’s stock, valued at approximately $642,332.28. The trade was a 36.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Cheryl H. Johnson sold 2,664 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $378.84, for a total value of $1,009,229.76. Following the transaction, the insider now directly owns 12,951 shares in the company, valued at $4,906,356.84. This represents a 17.06 % decrease in their position. 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. Insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on CAT. Morgan Stanley downgraded shares of Caterpillar from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $349.00 to $332.00 in a research note on Monday, October 14th. Truist Financial decreased 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. Jefferies Financial Group raised their target price on Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Bank of America increased their price target on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Finally, Robert W. Baird upped their target price on shares of Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research report on Thursday, October 31st. Three analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Caterpillar currently has a consensus rating of “Hold” and a consensus target price of $380.60.

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.