Kingsview Wealth Management LLC Sells 577 Shares of Caterpillar Inc. (NYSE:CAT)

Kingsview Wealth Management LLC cut its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 4.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,159 shares of the industrial products company’s stock after selling 577 shares during the period. Kingsview Wealth Management LLC’s holdings in Caterpillar were worth $4,048,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Geode Capital Management LLC increased its position in shares of Caterpillar by 0.7% during the third quarter. Geode Capital Management LLC now owns 10,213,455 shares of the industrial products company’s stock worth $3,987,206,000 after acquiring an additional 67,148 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of Caterpillar by 2.3% during the third quarter. Fisher Asset Management LLC now owns 8,952,632 shares of the industrial products company’s stock worth $3,501,554,000 after acquiring an additional 205,012 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Caterpillar by 1.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,627,513 shares of the industrial products company’s stock worth $1,418,793,000 after purchasing an additional 64,452 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Caterpillar by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,227,378 shares of the industrial products company’s stock worth $1,262,290,000 after purchasing an additional 8,088 shares in the last quarter. Finally, International Assets Investment Management LLC grew its position in Caterpillar by 39,534.0% in the 3rd quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock worth $8,356,930,000 after purchasing an additional 2,131,276 shares in the last quarter. 70.98% of the stock is owned by institutional investors.

Caterpillar Stock Performance

NYSE CAT opened at $363.84 on Friday. Caterpillar Inc. has a 1 year low of $307.05 and a 1 year high of $418.50. 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 $175.66 billion, a PE ratio of 16.49, a P/E/G ratio of 1.94 and a beta of 1.12. The company’s 50 day simple moving average is $376.59 and its two-hundred day simple moving average is $371.29.

Caterpillar (NYSE:CAT) last posted its earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, topping 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%. Analysts predict that Caterpillar Inc. will post 20.05 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently announced 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. This represents a $5.64 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend is Tuesday, January 21st. Caterpillar’s dividend payout ratio is presently 25.56%.

Insider Activity

In other news, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction on 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 sale, the chief financial officer now owns 45,182 shares in the company, valued at approximately $17,173,226.38. This trade represents a 18.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gerald Johnson acquired 100 shares of the stock in a transaction dated Wednesday, December 4th. The shares were bought at an average price of $398.57 per share, for a total transaction of $39,857.00. Following the transaction, 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 disclosure for this purchase can be found here. Corporate insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CAT shares. Morgan Stanley reduced their price objective on shares of Caterpillar from $330.00 to $300.00 and set an “underweight” rating for the company in a research report on Friday, January 31st. UBS Group raised shares of Caterpillar from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $355.00 to $385.00 in a research report on Monday, February 3rd. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Jefferies Financial Group increased their target price on shares of Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, Citigroup increased their target price on shares of Caterpillar from $420.00 to $430.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $383.13.

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.