Cidel Asset Management Inc. Sells 142 Shares of Caterpillar Inc. (NYSE:CAT)

Cidel Asset Management Inc. lessened its holdings in Caterpillar Inc. (NYSE:CAT) by 5.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,329 shares of the industrial products company’s stock after selling 142 shares during the period. Cidel Asset Management Inc.’s holdings in Caterpillar were worth $845,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in shares of Caterpillar in the 3rd quarter worth about $36,000. Retirement Wealth Solutions LLC bought a new stake in Caterpillar during the fourth quarter worth approximately $34,000. Kimelman & Baird LLC raised its position in Caterpillar by 42.9% during the third quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 30 shares during the period. Albion Financial Group UT lifted its stake in shares of Caterpillar by 334.8% in the 4th quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 77 shares during the last quarter. Finally, Trivant Custom Portfolio Group LLC boosted its holdings in shares of Caterpillar by 130.0% in the 4th quarter. Trivant Custom Portfolio Group LLC now owns 115 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 65 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CAT shares. StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. UBS Group upgraded shares of Caterpillar from a “sell” rating to a “neutral” rating and raised their target price for the stock from $355.00 to $385.00 in a report on Monday, February 3rd. Truist Financial cut their price target on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Bank of America decreased their price objective on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Finally, Jefferies Financial Group upped their target price on Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $383.13.

Caterpillar Stock Performance

CAT stock 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 business has a 50-day moving average price of $377.44 and a 200 day moving average price of $371.18. The company has a market capitalization of $175.66 billion, a P/E ratio of 16.49, a PEG ratio of 1.95 and a beta of 1.12. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 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%. As a group, equities research analysts forecast that Caterpillar Inc. will post 21.45 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st will be given a dividend of $1.41 per share. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $5.64 annualized dividend and a yield of 1.55%. Caterpillar’s dividend payout ratio (DPR) is presently 25.56%.

Insider Activity

In other news, Director Gerald Johnson acquired 100 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were purchased at an average price of $398.57 per share, with a total value of $39,857.00. Following the transaction, the director now directly owns 2,953 shares in the company, valued at approximately $1,176,977.21. This represents a 3.51 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Anthony D. Fassino sold 6,279 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was 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 approximately $13,714,323.35. This trade represents a 15.76 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

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.