Resolute Wealth Strategies LLC Reduces Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Resolute Wealth Strategies LLC decreased its stake in Caterpillar Inc. (NYSE:CAT) by 0.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,514 shares of the industrial products company’s stock after selling 48 shares during the period. Caterpillar accounts for about 2.5% of Resolute Wealth Strategies LLC’s holdings, making the stock its 9th biggest position. Resolute Wealth Strategies LLC’s holdings in Caterpillar were worth $4,902,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Halbert Hargrove Global Advisors LLC bought a new stake in Caterpillar in the fourth quarter worth about $27,000. Noble Wealth Management PBC bought a new stake in Caterpillar in the fourth quarter worth about $31,000. Capital Performance Advisors LLP bought a new stake in Caterpillar in the third quarter worth about $36,000. Retirement Wealth Solutions LLC bought a new stake in Caterpillar in the fourth quarter worth about $34,000. Finally, Whipplewood Advisors LLC bought a new stake in Caterpillar in the fourth quarter worth about $36,000. Institutional investors own 70.98% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Citigroup lifted their target price on shares of Caterpillar from $420.00 to $430.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Raymond James upgraded shares of Caterpillar from a “market perform” rating to an “outperform” rating in a research note on Monday, February 3rd. DA Davidson lifted their target price on shares of Caterpillar from $350.00 to $357.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Wedbush upgraded shares of Caterpillar to an “outperform” rating in a research note on Monday, February 3rd. Finally, UBS Group upgraded shares of Caterpillar from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $355.00 to $385.00 in a research note on Monday, February 3rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Caterpillar presently has an average rating of “Hold” and an average target price of $383.80.

Caterpillar Price Performance

CAT stock opened at $331.75 on Tuesday. 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 Inc. has a one year low of $307.05 and a one year high of $418.50. The stock has a market cap of $158.55 billion, a PE ratio of 15.03, a P/E/G ratio of 1.87 and a beta of 1.12. The firm has a 50 day simple moving average of $365.31 and a two-hundred day simple moving average of $373.10.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 EPS for the quarter, topping 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%. On average, analysts predict that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st were paid a $1.41 dividend. The ex-dividend date was Tuesday, January 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.70%. Caterpillar’s dividend payout ratio is presently 25.56%.

Insiders Place Their Bets

In other news, insider Jason Kaiser sold 2,425 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total value of $860,147.50. Following the completion of the sale, the insider now directly owns 6,275 shares in the company, valued at approximately $2,225,742.50. The trade was a 27.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Gerald Johnson acquired 100 shares of the stock in a transaction dated Wednesday, December 4th. The stock was acquired at an average price 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. The trade was a 3.51 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.29% of the company’s stock.

Caterpillar 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.