First Horizon Advisors Inc. Decreases Stock Holdings in Caterpillar Inc. (NYSE:CAT)

First Horizon Advisors Inc. cut its holdings in Caterpillar Inc. (NYSE:CAT) by 5.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,967 shares of the industrial products company’s stock after selling 432 shares during the quarter. First Horizon Advisors Inc.’s holdings in Caterpillar were worth $2,891,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Retirement Wealth Solutions LLC purchased a new position in shares of Caterpillar during the fourth quarter valued at approximately $34,000. Capital Performance Advisors LLP purchased a new position in Caterpillar during the 3rd quarter valued at $36,000. Albion Financial Group UT raised its holdings in Caterpillar by 334.8% in the 4th quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 77 shares in the last quarter. Kimelman & Baird LLC lifted its position in shares of Caterpillar by 42.9% in the 3rd quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 30 shares during the period. Finally, Trivant Custom Portfolio Group LLC boosted its stake in shares of Caterpillar by 130.0% during the 4th quarter. Trivant Custom Portfolio Group LLC now owns 115 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Activity

In other Caterpillar news, Director Gerald Johnson bought 100 shares of Caterpillar stock in a transaction on Wednesday, December 4th. The stock was acquired at an average cost of $398.57 per share, with a total value of $39,857.00. Following the completion of the acquisition, the director now owns 2,953 shares in the company, valued at approximately $1,176,977.21. This represents a 3.51 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jason Kaiser sold 2,425 shares of Caterpillar stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total transaction of $860,147.50. Following the transaction, the insider now owns 6,275 shares in the company, valued at $2,225,742.50. This represents a 27.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,704 shares of company stock valued at $7,226,584 in the last ninety days. 0.29% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on CAT. Robert W. Baird increased their target price on Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research report on Thursday, October 31st. Citigroup increased their price objective on Caterpillar from $420.00 to $430.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Wedbush raised shares of Caterpillar to an “outperform” rating in a research report on Monday, February 3rd. Truist Financial lowered their price target on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Finally, Bank of America cut their price objective on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Caterpillar presently has an average rating of “Hold” and a consensus price target of $383.80.

Caterpillar Trading Down 2.7 %

Shares of NYSE:CAT opened at $339.84 on Monday. Caterpillar Inc. has a 1 year low of $307.05 and a 1 year high of $418.50. The stock’s fifty day moving average price is $368.73 and its 200-day moving average price is $372.72. The company has a market cap of $162.42 billion, a P/E ratio of 15.40, a PEG ratio of 1.87 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.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. Sell-side analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st were paid a dividend of $1.41 per share. The ex-dividend date of this dividend was Tuesday, January 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.66%. Caterpillar’s dividend payout ratio is presently 25.56%.

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.