Gries Financial LLC Reduces Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Gries Financial LLC cut its position in shares of Caterpillar Inc. (NYSE:CAT) by 34.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,056 shares of the industrial products company’s stock after selling 552 shares during the quarter. Gries Financial LLC’s holdings in Caterpillar were worth $383,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in CAT. Retirement Wealth Solutions LLC purchased a new position in Caterpillar in the fourth quarter worth approximately $34,000. Capital Performance Advisors LLP acquired a new position in shares of Caterpillar in the 3rd quarter valued at $36,000. Albion Financial Group UT grew its holdings in shares of Caterpillar by 334.8% during the 4th quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 77 shares during the period. Kimelman & Baird LLC increased 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 worth $39,000 after purchasing an additional 30 shares during the last quarter. Finally, Trivant Custom Portfolio Group LLC lifted its position in Caterpillar by 130.0% in 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. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insiders Place Their Bets

In other Caterpillar news, insider Cheryl H. Johnson sold 2,664 shares of Caterpillar stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $378.84, for a total transaction of $1,009,229.76. Following the transaction, the insider now owns 12,951 shares of the company’s stock, valued at $4,906,356.84. The trade was a 17.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Lange Bob De sold 12,657 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $410.25, for a total value of $5,192,534.25. Following the completion of the sale, the insider now directly owns 71,107 shares of the company’s stock, valued at $29,171,646.75. The trade was a 15.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,900 shares of company stock valued at $13,111,601. 0.29% of the stock is owned by corporate insiders.

Caterpillar Price Performance

Shares of CAT opened at $375.98 on Friday. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. The firm’s fifty day simple moving average is $381.68 and its 200-day simple moving average is $370.78. The firm has a market capitalization of $181.52 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 1.97 and a beta of 1.13. Caterpillar Inc. has a twelve month low of $299.93 and a twelve month high of $418.50.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. Equities analysts forecast that Caterpillar Inc. will post 21.69 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st will be paid a $1.41 dividend. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $5.64 annualized dividend and a yield of 1.50%. Caterpillar’s dividend payout ratio is currently 26.15%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CAT shares. StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Citigroup decreased their price target on Caterpillar from $460.00 to $420.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Evercore ISI raised Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 price objective for the company in a research note on Monday, January 13th. JPMorgan Chase & Co. increased their target price on Caterpillar from $500.00 to $515.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Finally, Morgan Stanley lowered shares of Caterpillar from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $349.00 to $332.00 in a research note on Monday, October 14th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $384.60.

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.