Athena Investment Management Lowers Stock Position in Caterpillar Inc. (NYSE:CAT)

Athena Investment Management lessened its holdings in Caterpillar Inc. (NYSE:CAT) by 7.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,709 shares of the industrial products company’s stock after selling 137 shares during the quarter. Athena Investment Management’s holdings in Caterpillar were worth $620,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Noble Wealth Management PBC purchased a new stake in Caterpillar in the 4th quarter valued at approximately $31,000. Capital Performance Advisors LLP acquired a new stake in shares of Caterpillar during the 3rd quarter valued at approximately $36,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Caterpillar during the 4th quarter valued at approximately $34,000. Whipplewood Advisors LLC acquired a new stake in shares of Caterpillar during the 4th quarter valued at approximately $36,000. Finally, Kimelman & Baird LLC lifted its position in shares of Caterpillar by 42.9% during the 3rd quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 30 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Up 1.1 %

Shares of NYSE CAT opened at $343.90 on Friday. Caterpillar Inc. has a 52-week low of $307.05 and a 52-week high of $418.50. The firm has a fifty day moving average of $365.99 and a 200-day moving average of $372.71. The stock has a market capitalization of $164.36 billion, a PE ratio of 15.58, a P/E/G ratio of 1.87 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 data on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, beating the consensus estimate 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 anticipate that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Tuesday, January 21st were given a dividend of $1.41 per share. The ex-dividend date was Tuesday, January 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.64%. Caterpillar’s dividend payout ratio (DPR) is 25.56%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Bank of America reduced their price target on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a research report on Friday, January 31st. JPMorgan Chase & Co. cut their price objective on Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Citigroup lifted their price objective on Caterpillar from $420.00 to $430.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Morgan Stanley cut their price objective on Caterpillar from $330.00 to $300.00 and set an “underweight” rating for the company in a research report on Friday, January 31st. Finally, UBS Group upgraded Caterpillar from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $355.00 to $385.00 in a research report on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Caterpillar presently has an average rating of “Hold” and a consensus price target of $383.80.

Insider Buying and Selling

In related news, insider Jason Kaiser sold 2,425 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total transaction of $860,147.50. Following the completion of the sale, the insider now directly owns 6,275 shares of the company’s stock, valued at approximately $2,225,742.50. This represents a 27.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the completion of the transaction, the chief financial officer now directly owns 45,182 shares of the company’s stock, valued at approximately $17,173,226.38. The trade was a 18.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is owned by corporate insiders.

Caterpillar Company 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.