Chevy Chase Trust Holdings LLC Lowers Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Chevy Chase Trust Holdings LLC trimmed its stake in Caterpillar Inc. (NYSE:CAT) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 259,907 shares of the industrial products company’s stock after selling 6,628 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Caterpillar were worth $94,284,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CAT. International Assets Investment Management LLC increased its position in shares of Caterpillar by 39,534.0% in the third quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock worth $8,356,930,000 after purchasing an additional 2,131,276 shares during the last quarter. Zurich Insurance Group Ltd FI increased its position in shares of Caterpillar by 4,018.6% in the third quarter. Zurich Insurance Group Ltd FI now owns 255,355 shares of the industrial products company’s stock worth $99,874,000 after purchasing an additional 249,155 shares during the last quarter. Strategic Financial Concepts LLC increased its position in shares of Caterpillar by 36,168.5% in the fourth quarter. Strategic Financial Concepts LLC now owns 227,041 shares of the industrial products company’s stock worth $82,361,000 after purchasing an additional 226,415 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of Caterpillar by 2.3% in the third quarter. Fisher Asset Management LLC now owns 8,952,632 shares of the industrial products company’s stock worth $3,501,554,000 after purchasing an additional 205,012 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in shares of Caterpillar by 34.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 782,133 shares of the industrial products company’s stock worth $305,908,000 after purchasing an additional 200,210 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Caterpillar news, insider Anthony D. Fassino sold 6,279 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $408.59, for a total transaction of $2,565,536.61. Following the completion of the transaction, the insider now owns 33,565 shares of the company’s stock, valued at approximately $13,714,323.35. This trade represents a 15.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $380.09, for a total value of $3,800,900.00. Following the transaction, the chief financial officer now directly owns 45,182 shares of the company’s stock, valued at $17,173,226.38. This represents a 18.12 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by insiders.

Caterpillar Stock Performance

Shares of CAT stock opened at $353.97 on Friday. The stock has a fifty day moving average of $374.12 and a 200 day moving average of $371.81. Caterpillar Inc. has a 52 week low of $307.05 and a 52 week high of $418.50. The firm has a market capitalization of $170.90 billion, a price-to-earnings ratio of 16.04, a PEG ratio of 1.94 and a beta of 1.12. 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 announced 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 return on equity of 58.18% and a net margin of 16.65%. As a group, research analysts expect that Caterpillar Inc. will post 20.05 earnings per share for the current year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Tuesday, January 21st will be paid a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend is Tuesday, January 21st. Caterpillar’s payout ratio is 25.56%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CAT shares. Jefferies Financial Group increased their price target on shares of Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Citigroup increased their price target on shares of Caterpillar from $420.00 to $430.00 and gave the company a “buy” rating in a research report on Friday, January 31st. UBS Group upgraded shares of Caterpillar from a “sell” rating to a “neutral” rating and increased their price target for the company from $355.00 to $385.00 in a research report on Monday, February 3rd. DA Davidson increased their price target on shares of Caterpillar from $350.00 to $357.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Finally, Truist Financial reduced their price target on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $383.13.

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.