Convergence Investment Partners LLC Sells 1,553 Shares of Caterpillar Inc. (NYSE:CAT)

Convergence Investment Partners LLC decreased its stake in shares of Caterpillar Inc. (NYSE:CAT) by 21.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,828 shares of the industrial products company’s stock after selling 1,553 shares during the period. Convergence Investment Partners LLC’s holdings in Caterpillar were worth $2,114,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of CAT. International Assets Investment Management LLC boosted its stake in shares of Caterpillar by 39,534.0% during the 3rd quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock valued at $8,356,930,000 after purchasing an additional 2,131,276 shares in the last quarter. Zurich Insurance Group Ltd FI boosted its stake in Caterpillar by 4,018.6% during the third quarter. Zurich Insurance Group Ltd FI now owns 255,355 shares of the industrial products company’s stock worth $99,874,000 after acquiring an additional 249,155 shares in the last quarter. Strategic Financial Concepts LLC boosted its stake in Caterpillar by 36,168.5% during the fourth 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 in the last quarter. Fisher Asset Management LLC boosted its stake in 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. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in Caterpillar by 34.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 782,133 shares of the industrial products company’s stock worth $305,908,000 after acquiring an additional 200,210 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Up 0.6 %

CAT opened at $355.42 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. The firm has a 50 day moving average price of $371.55 and a 200-day moving average price of $372.29. Caterpillar Inc. has a twelve month low of $307.05 and a twelve month high of $418.50. The stock has a market capitalization of $171.60 billion, a price-to-earnings ratio of 16.10, a PEG ratio of 1.94 and a beta of 1.12.

Caterpillar (NYSE:CAT) last announced its earnings results on Thursday, January 30th. The industrial products company reported $5.14 EPS for the quarter, beating analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. Equities research analysts forecast that Caterpillar Inc. will post 20.05 earnings per share for the current year.

Caterpillar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st will be issued a dividend of $1.41 per share. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.59%. Caterpillar’s dividend payout ratio is currently 25.56%.

Insider Buying and Selling at Caterpillar

In other news, Director Gerald Johnson purchased 100 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was acquired at an average cost of $398.57 per share, for a total transaction of $39,857.00. Following the completion of the transaction, the director now directly owns 2,953 shares in the company, valued at $1,176,977.21. This trade represents a 3.51 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Anthony D. Fassino sold 6,279 shares of the company’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 completion of the transaction, the insider now owns 33,565 shares of the company’s stock, valued at approximately $13,714,323.35. The trade was 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 owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on CAT shares. Truist Financial dropped their price objective on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. StockNews.com raised shares of Caterpillar from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. DA Davidson boosted their price objective on shares of Caterpillar from $350.00 to $357.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Evercore ISI raised shares of Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 target price for the company in a report on Monday, January 13th. Finally, Citigroup lifted their target price on shares of Caterpillar from $420.00 to $430.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price 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.