Eukles Asset Management Trims Stake in Caterpillar Inc. (NYSE:CAT)

Eukles Asset Management lowered its stake in Caterpillar Inc. (NYSE:CAT) by 7.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,394 shares of the industrial products company’s stock after selling 1,175 shares during the quarter. Caterpillar comprises approximately 2.2% of Eukles Asset Management’s holdings, making the stock its 9th largest holding. Eukles Asset Management’s holdings in Caterpillar were worth $5,221,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nordea Investment Management AB boosted its holdings in Caterpillar by 1.6% during the fourth quarter. Nordea Investment Management AB now owns 635,750 shares of the industrial products company’s stock worth $231,686,000 after buying an additional 10,212 shares during the last quarter. West Wealth Group LLC bought a new position in Caterpillar during the 4th quarter worth approximately $230,000. Citizens Financial Group Inc. RI grew its holdings in Caterpillar by 43.0% during the third quarter. Citizens Financial Group Inc. RI now owns 13,902 shares of the industrial products company’s stock valued at $5,437,000 after purchasing an additional 4,181 shares during the period. Cadinha & Co. LLC acquired a new stake in Caterpillar in the fourth quarter worth $11,084,000. Finally, First Affirmative Financial Network bought a new position in shares of Caterpillar during the third quarter worth $204,000. 70.98% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Anthony D. Fassino sold 6,279 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $408.59, for a total value of $2,565,536.61. Following the sale, the insider now owns 33,565 shares in the company, valued at approximately $13,714,323.35. This represents a 15.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gerald Johnson acquired 100 shares of Caterpillar stock in a transaction on Wednesday, December 4th. The shares were bought at an average cost of $398.57 per share, with a total value of $39,857.00. Following the completion of the transaction, the director now owns 2,953 shares of the company’s stock, valued at approximately $1,176,977.21. This trade represents a 3.51 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.29% of the stock is owned by insiders.

Caterpillar Price Performance

Shares of NYSE CAT opened at $363.84 on Monday. Caterpillar Inc. has a fifty-two week low of $307.05 and a fifty-two week high of $418.50. The stock has a market capitalization of $175.66 billion, a price-to-earnings ratio of 16.49, a PEG ratio of 1.94 and a beta of 1.12. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. The business has a 50-day moving average of $376.59 and a 200-day moving average of $371.48.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share for the quarter, topping the consensus estimate of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. As a group, sell-side analysts predict that Caterpillar Inc. will post 20.05 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Tuesday, January 21st will be paid 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 dividend yield of 1.55%. Caterpillar’s dividend payout ratio is presently 25.56%.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. UBS Group raised Caterpillar from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $355.00 to $385.00 in a research note on Monday, February 3rd. StockNews.com lowered Caterpillar from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Robert W. Baird boosted their price objective on Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research report on Thursday, October 31st. Morgan Stanley dropped their target price on shares of Caterpillar from $330.00 to $300.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. Finally, Jefferies Financial Group increased their price objective on shares of Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Caterpillar has a consensus rating of “Hold” and a consensus target price of $383.13.

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.