WNY Asset Management LLC Sells 56 Shares of Caterpillar Inc. (NYSE:CAT)

WNY Asset Management LLC reduced its stake in shares of Caterpillar Inc. (NYSE:CAT) by 4.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,130 shares of the industrial products company’s stock after selling 56 shares during the period. WNY Asset Management LLC’s holdings in Caterpillar were worth $334,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Johnson Investment Counsel Inc. increased its stake in shares of Caterpillar by 14.0% in the third quarter. Johnson Investment Counsel Inc. now owns 11,129 shares of the industrial products company’s stock worth $3,038,000 after purchasing an additional 1,365 shares during the period. Bank Julius Baer & Co. Ltd Zurich grew its position in Caterpillar by 3.1% during the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 8,944 shares of the industrial products company’s stock worth $2,442,000 after buying an additional 265 shares in the last quarter. Financial Engines Advisors L.L.C. acquired a new stake in Caterpillar during the third quarter worth about $249,000. Rafferty Asset Management LLC grew its position in Caterpillar by 8.9% during the third quarter. Rafferty Asset Management LLC now owns 40,576 shares of the industrial products company’s stock worth $11,077,000 after buying an additional 3,331 shares in the last quarter. Finally, QRG Capital Management Inc. acquired a new stake in Caterpillar during the third quarter worth about $24,249,000. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Stock Performance

Shares of Caterpillar stock opened at $321.61 on Friday. The firm has a fifty day moving average of $347.82 and a two-hundred day moving average of $323.53. The stock has a market capitalization of $157.28 billion, a price-to-earnings ratio of 14.52, a PEG ratio of 1.67 and a beta of 1.14. Caterpillar Inc. has a 52 week low of $223.76 and a 52 week high of $382.01. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.83 and a current ratio of 1.35.

Caterpillar (NYSE:CAT) last issued its earnings results on Thursday, April 25th. The industrial products company reported $5.60 EPS for the quarter, beating the consensus estimate of $5.12 by $0.48. The company had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $16.07 billion. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. As a group, equities research analysts predict that Caterpillar Inc. will post 21.81 EPS for the current year.

Caterpillar Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Monday, July 22nd will be paid a $1.41 dividend. The ex-dividend date is Monday, July 22nd. This is a positive change from Caterpillar’s previous quarterly dividend of $1.30. This represents a $5.64 dividend on an annualized basis and a yield of 1.75%. Caterpillar’s dividend payout ratio is presently 23.48%.

Wall Street Analyst Weigh In

CAT has been the topic of a number of recent research reports. Truist Financial initiated coverage on Caterpillar in a research report on Thursday, March 14th. They set a “buy” rating and a $390.00 target price on the stock. The Goldman Sachs Group lifted their price objective on Caterpillar from $357.00 to $408.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Evercore ISI downgraded Caterpillar from an “outperform” rating to an “in-line” rating and lifted their price objective for the company from $321.00 to $338.00 in a report on Tuesday, February 20th. Oppenheimer reaffirmed a “market perform” rating on shares of Caterpillar in a report on Thursday, April 18th. Finally, TD Cowen boosted their target price on Caterpillar from $338.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, April 26th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Caterpillar currently has a consensus rating of “Hold” and a consensus price target of $323.35.

Insider Buying and Selling

In other Caterpillar news, Director David Maclennan acquired 500 shares of Caterpillar stock in a transaction dated Friday, May 3rd. The stock was bought at an average cost of $337.39 per share, for a total transaction of $168,695.00. Following the purchase, the director now directly owns 5,738 shares in the company, valued at approximately $1,935,943.82. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Cheryl H. Johnson sold 1,508 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $340.00, for a total value of $512,720.00. Following the sale, the insider now directly owns 20,023 shares of the company’s stock, valued at approximately $6,807,820. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director David Maclennan bought 500 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was purchased at an average cost of $337.39 per share, for a total transaction of $168,695.00. Following the completion of the acquisition, the director now owns 5,738 shares in the company, valued at approximately $1,935,943.82. The disclosure for this purchase can be found here. Company insiders own 0.33% of the company’s stock.

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.