Benedict Financial Advisors Inc. Has $1.88 Million Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Benedict Financial Advisors Inc. cut its stake in Caterpillar Inc. (NYSE:CAT) by 0.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 5,193 shares of the industrial products company’s stock after selling 28 shares during the period. Benedict Financial Advisors Inc.’s holdings in Caterpillar were worth $1,884,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Nordea Investment Management AB boosted its stake in Caterpillar by 1.6% in the 4th quarter. Nordea Investment Management AB now owns 635,750 shares of the industrial products company’s stock valued at $231,686,000 after purchasing an additional 10,212 shares during the period. West Wealth Group LLC bought a new position in Caterpillar during the fourth quarter worth about $230,000. Citizens Financial Group Inc. RI boosted its holdings in Caterpillar by 43.0% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 13,902 shares of the industrial products company’s stock valued at $5,437,000 after purchasing an additional 4,181 shares during the period. Cadinha & Co. LLC acquired a new stake in shares of Caterpillar in the fourth quarter valued at approximately $11,084,000. Finally, First Affirmative Financial Network acquired a new stake in Caterpillar during the third quarter worth approximately $204,000. Institutional investors own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CAT shares. Citigroup raised their price target on Caterpillar from $420.00 to $430.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. reduced their price target on shares of Caterpillar from $515.00 to $490.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Bank of America reduced their target price on Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Truist Financial lowered their price target on Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Finally, Jefferies Financial Group increased their target price on shares of Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $383.13.

Caterpillar Stock Performance

Shares of CAT opened at $363.84 on Friday. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40. The firm’s fifty day simple moving average is $376.59 and its two-hundred day simple moving average is $371.29. Caterpillar Inc. has a 12 month low of $307.05 and a 12 month high of $418.50. The stock has a market capitalization of $175.66 billion, a P/E ratio of 16.49, a price-to-earnings-growth ratio of 1.94 and a beta of 1.12.

Caterpillar (NYSE:CAT) last issued its 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%. As a group, analysts predict that Caterpillar Inc. will post 20.05 EPS for the current year.

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders 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 dividend yield of 1.55%. Caterpillar’s dividend payout ratio is presently 25.56%.

Insider Activity at Caterpillar

In other Caterpillar news, Director Gerald Johnson acquired 100 shares of the stock in a transaction on Wednesday, December 4th. The shares were purchased at an average price of $398.57 per share, for a total transaction of $39,857.00. Following the completion of the acquisition, the director now owns 2,953 shares in the company, valued at approximately $1,176,977.21. This represents a 3.51 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Anthony D. Fassino sold 6,279 shares of Caterpillar stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $408.59, for a total transaction of $2,565,536.61. Following the transaction, the insider now 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 disclosure for this sale can be found here. 0.29% of the stock is currently owned by corporate insiders.

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.