Caterpillar Inc. (NYSE:CAT) Shares Sold by Aspen Investment Management Inc

Aspen Investment Management Inc lowered its stake in shares of Caterpillar Inc. (NYSE:CAT) by 3.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,966 shares of the industrial products company’s stock after selling 110 shares during the quarter. Aspen Investment Management Inc’s holdings in Caterpillar were worth $1,076,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in shares of Caterpillar during the third quarter valued at $36,000. Retirement Wealth Solutions LLC acquired a new position in Caterpillar during the 4th quarter valued at about $34,000. Kimelman & Baird LLC grew its position in 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 last quarter. Albion Financial Group UT increased its stake in shares of Caterpillar by 334.8% in the fourth quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 77 shares during the period. Finally, Trivant Custom Portfolio Group LLC raised its holdings in shares of Caterpillar by 130.0% during the fourth quarter. Trivant Custom Portfolio Group LLC now owns 115 shares of the industrial products company’s stock valued at $42,000 after buying an additional 65 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.

Insider Activity at Caterpillar

In other news, insider Anthony D. Fassino sold 6,279 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $408.59, for a total value of $2,565,536.61. Following the completion of the sale, the insider now directly owns 33,565 shares of the company’s stock, valued at $13,714,323.35. This represents a 15.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 that occurred on Thursday, January 16th. The stock was sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the sale, the chief financial officer now owns 45,182 shares of the company’s stock, valued at approximately $17,173,226.38. This represents a 18.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,704 shares of company stock worth $7,226,584. 0.29% of the stock is owned by corporate insiders.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $348.84 on Friday. The company has a market capitalization of $166.72 billion, a PE ratio of 15.81, a price-to-earnings-growth ratio of 1.89 and a beta of 1.12. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42. The stock has a fifty day moving average of $370.18 and a 200-day moving average of $372.40. Caterpillar Inc. has a one year low of $307.05 and a one year high of $418.50.

Caterpillar (NYSE:CAT) last announced its earnings results on Thursday, January 30th. The industrial products company reported $5.14 EPS for the quarter, beating the consensus estimate 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, equities analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Tuesday, January 21st were issued 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 dividend yield of 1.62%. Caterpillar’s dividend payout ratio is currently 25.56%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CAT shares. Truist Financial decreased their price objective on Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Robert W. Baird raised their price target on Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a report on Thursday, October 31st. DA Davidson upped their price objective on shares of Caterpillar from $350.00 to $357.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Morgan Stanley lowered their target price on shares of Caterpillar from $330.00 to $300.00 and set an “underweight” rating on the stock in a research note on Friday, January 31st. Finally, Evercore ISI upped their price target on shares of Caterpillar from $365.00 to $375.00 and gave the stock an “in-line” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $383.80.

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.