Caterpillar Inc. (NYSE:CAT) Shares Sold by Logan Capital Management Inc.

Logan Capital Management Inc. lowered its stake in shares of Caterpillar Inc. (NYSE:CAT) by 5.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 23,924 shares of the industrial products company’s stock after selling 1,437 shares during the period. Logan Capital Management Inc.’s holdings in Caterpillar were worth $8,679,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Flagship Wealth Advisors LLC purchased a new position in shares of Caterpillar in the 4th quarter worth about $26,000. Halbert Hargrove Global Advisors LLC acquired a new position in Caterpillar during the fourth quarter valued at approximately $27,000. Cyrus J. Lawrence LLC purchased a new stake in Caterpillar during the fourth quarter worth approximately $27,000. Noble Wealth Management PBC purchased a new position in shares of Caterpillar in the 4th quarter valued at $31,000. Finally, Retirement Wealth Solutions LLC acquired a new position in shares of Caterpillar during the 4th quarter valued at $34,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director David Maclennan purchased 375 shares of the company’s stock in a transaction dated Wednesday, May 7th. The shares were bought at an average price of $320.70 per share, with a total value of $120,262.50. Following the completion of the transaction, the director now directly owns 6,653 shares in the company, valued at $2,133,617.10. This trade represents a 5.97% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, 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 completion of the transaction, the insider now owns 6,275 shares in the company, valued at $2,225,742.50. This trade represents a 27.87% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on CAT. StockNews.com lowered Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. UBS Group raised Caterpillar from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $355.00 to $385.00 in a research report on Monday, February 3rd. JPMorgan Chase & Co. dropped their price objective on shares of Caterpillar from $490.00 to $380.00 and set an “overweight” rating on the stock in a research note on Monday, April 14th. Raymond James upgraded shares of Caterpillar from a “market perform” rating to an “outperform” rating in a research note on Monday, February 3rd. Finally, Robert W. Baird raised shares of Caterpillar from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $300.00 to $309.00 in a research note on Thursday, May 1st. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $370.67.

Caterpillar Stock Up 0.4%

CAT stock opened at $325.47 on Monday. The company has a 50 day moving average of $316.76 and a two-hundred day moving average of $354.96. The company has a market cap of $153.31 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 1.87 and a beta of 1.35. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $418.50. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40.

Caterpillar (NYSE:CAT) last issued its earnings results on Wednesday, April 30th. The industrial products company reported $4.25 EPS for the quarter, missing analysts’ consensus estimates of $4.35 by ($0.10). The firm had revenue of $14.25 billion during the quarter, compared to analysts’ expectations of $14.64 billion. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. The business’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same quarter last year, the firm earned $5.60 EPS. On average, equities analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Monday, April 21st will be paid a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend is Monday, April 21st. Caterpillar’s dividend payout ratio (DPR) is presently 27.49%.

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.