Berkshire Asset Management LLC PA Sells 50 Shares of Caterpillar Inc. (NYSE:CAT)

Berkshire Asset Management LLC PA trimmed its holdings in Caterpillar Inc. (NYSE:CAT) by 1.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,513 shares of the industrial products company’s stock after selling 50 shares during the quarter. Berkshire Asset Management LLC PA’s holdings in Caterpillar were worth $1,274,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CAT. Raymond James Financial Inc. bought a new position in shares of Caterpillar in the 4th quarter valued at about $353,231,000. Proficio Capital Partners LLC lifted its holdings in Caterpillar by 50,072.7% in the fourth quarter. Proficio Capital Partners LLC now owns 804,770 shares of the industrial products company’s stock valued at $291,938,000 after buying an additional 803,166 shares during the period. Zurich Insurance Group Ltd FI boosted its stake in 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 valued at $99,874,000 after acquiring an additional 249,155 shares during the last quarter. Strategic Financial Concepts LLC grew its holdings in Caterpillar by 36,168.5% during the 4th quarter. Strategic Financial Concepts LLC now owns 227,041 shares of the industrial products company’s stock worth $82,361,000 after acquiring an additional 226,415 shares during the period. Finally, Fisher Asset Management LLC raised its position in shares of Caterpillar by 2.3% during the 3rd quarter. Fisher Asset Management LLC now owns 8,952,632 shares of the industrial products company’s stock valued at $3,501,554,000 after acquiring an additional 205,012 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Transactions at Caterpillar

In other news, insider Jason Kaiser sold 2,425 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was 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 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gerald Johnson bought 100 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were purchased at an average price of $365.57 per share, for a total transaction of $36,557.00. Following the completion of the acquisition, the director now owns 3,053 shares of the company’s stock, valued at $1,116,085.21. The trade was a 3.39 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Truist Financial decreased their price objective on Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Jefferies Financial Group boosted their target price on Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Morgan Stanley cut their price target on shares of Caterpillar from $330.00 to $300.00 and set an “underweight” rating on the stock in a research report on Friday, January 31st. StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Finally, DA Davidson lifted their price target on shares of Caterpillar from $350.00 to $357.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $383.80.

Caterpillar Stock Up 2.9 %

CAT stock opened at $350.97 on Friday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. The stock has a market capitalization of $167.74 billion, a P/E ratio of 15.90, a P/E/G ratio of 1.87 and a beta of 1.15. Caterpillar Inc. has a fifty-two week low of $307.05 and a fifty-two week high of $418.50. The business has a 50-day moving average of $363.11 and a 200-day moving average of $372.57.

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

Caterpillar Announces Dividend

The firm 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 of this dividend was Tuesday, January 21st. This represents a $5.64 annualized dividend and a yield of 1.61%. Caterpillar’s payout ratio is currently 25.56%.

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.